Intention to Change Name
23 September 2021
The Panoply Holdings PLC
("TPX", "The Panoply" or the "Group")
Intention to change name to TPXimpact Holdings PLC
A single brand that simplifies and strengthens our customer offer
The Panoply Holdings PLC announces its intention to change its name to TPXimpact Holdings PLC (AIM: TPX). Both the holding company and all its group businesses will operate under this single brand.
The Company's TIDM will remain "TPX".
Following the change of name, the Company's website will change to: www.tpximpact.com and this will contain the information required by AIM Rule 26.
A further announcement will be made once the change of name has taken effect.
Overview
TPXimpact has been launched today as the single brand under which all of the Group's businesses will come together over the next year. Following today's announcement, the Group's businesses will start including 'Becoming TPXimpact' following their legal corporate names.
The Board believes that operating under one brand will simplify and strengthen its offer to clients, allowing it to increase brand awareness and continue to secure larger projects which have the potential to make more impact on society.
This new single brand is focused on the Group's key vertical markets of central government, local government, healthcare, not for profit and commercial sectors, and is intended to offer those sectors a modern, full-service alternative for their digital transformation needs.
This change will see the Group move to a single P&L structure with a single sales, account management and back-office structure in the UK. It will also allow the Group to further leverage its Eastern European development facility in Bulgaria.
Transformation that matters
The Company was founded with an authentic sense of purpose - to do business that creates meaningful change in wider society - and the new brand reflects the centrality of this mission to everyone across the business. TPXimpact is focused on those services most important to society and aims to deliver impactful, sustainable, digital transformation.
This name change and operational consolidation is aimed at facilitating the Group to deliver services more efficiently that have a genuine impact on people's lives and on the communities in which it works. By delivering transformation that matters to the organisations that underpin society, the Group aims to effect fundamental and sustainable change that shapes organisations, services and systems, and that maximises impact and that defines the future experiences of individuals and society.
Bringing the Group together
Since inception the Group has been built from four founding businesses to around 600 permanent employees and approximately 200 contractors. Bringing together all of its people under this new single brand will see the Group come together as one team to achieve its shared goals for the future.
Collaboration across the Group has become progressively closer over the last few years, with several of its brands having merged into a smaller number of core, customer-facing brands. This strategy has proven successful, allowing the Group's teams across the business to work together on larger and more impactful projects. This Group-wide brand alignment therefore represents the logical next step forward in the evolution of its go-to-market strategy. The Group is excited about the opportunities for further organic growth that this next phase in the businesses strategy will bring, as it takes an integrated change, experience and technology offer to market.
Neal Gandhi, CEO of The Panoply (becoming TPXimpact), commented:
"Today we are embarking on the next stage of our growth journey through the consolidation of the Group to a single brand - TPXimpact. We established the business in 2016 with a commitment to delivering impactful, transformative projects with a sense of purpose and our new name accurately reflects this central mission.
Since 2018 we have acquired 13 companies with the same core values, deepening our capabilities across a range of digital transformation services. Bringing these businesses together under the one consolidated brand, TPXimpact, solidifies this alignment and reflects the scale of our ambitions.
Now as one brand, we are in prime position to accelerate our growth and target larger projects, both within the UK public sector and across new markets ripe for digital change ."
Enquiries:
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The Panoply Holdings Neal Gandhi (CEO) Oliver Rigby (CFO)
Stifel Nicolaus Europe Limited (Nomad and Joint Broker) |
Via Alma PR
+44 (0)207 710 7600 |
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Alex Price Fred Walsh
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Dowgate Capital Limited (Joint Broker) James Serjeant David Poutney Nicholas Chambers
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+44 (0)203 903 7715 |
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Alma PR (Financial PR) Susie Hudson Kieran Breheny Matthew Young |
tpx@almapr.co.uk +44 (0)203 405 0209
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About The Panoply (becoming TPX Impact)
The Panoply (becoming TPXimpact) exists to transform the organisations, services and systems that underpin society and that drive business success. It applies strategic and creative thinking, technology, innovative design and user-centred approaches to bring about numerous improvements which together multiply the impact of change. The Company works closely with its clients in agile, multidisciplinary teams that span organisational design, technology, and digital experiences. It shares a deep understanding of people and behaviours and a philosophy of putting people and communities at the heart of every transformation.
The business is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.70% of its client base representing the public sector and c.30% representing the commercial sector.
More information is available at www.thepanoply.com.
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