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Dillistone Group PLC (DSG)

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Wednesday 18 December, 2019

Dillistone Group PLC

Corporate Update & Board Changes

RNS Number : 2383X
Dillistone Group PLC
18 December 2019


Dillistone Group Plc

("Dillistone", the "Company" or the "Group")

Corporate Update & Board Changes


Dillistone Group Plc, the AIM quoted supplier of software and services to the recruitment industry, today announces a corporate update and changes to its Board of Directors.

Corporate Update

As announced earlier in February this year, Dillistone is undertaking a reorganisation to streamline its corporate structures and operations to achieve efficiencies across the business.  The result will be a simplified structure of legal entities and team structures that have cross-Group responsibilities, rather than the previous siloed approach which was the legacy of the acquisitions made by the Group over its history.  These changes will come into effect on 31 December 2019.

As anticipated, the costs of the reorganisation remain in line with our estimate of less than £600k and are being funded via the Group's existing resources and the £500k bank loan secured in June 2019.  The benefits of the Group's reduced cost base will be seen from 2020 onwards.

The newly combined business units will be trade under the name "Ikiru People".  The Company will however remain named Dillistone Group Plc

Board Changes

To complement the structural changes being made to the Group a number of changes are being made to the Board.

Mike Love will assume the post of Non-Executive Director on 31 December 2019 after 9 years as Chairman, to enable greater time for his other business interests.  Giles Fearnley, currently Non-Executive Director, will assume the role of Chairman from this date.  Giles is currently Managing Director Bus for First Group plc.  His previous roles included being Chief Executive of Prism Rail Plc and Chairman of both the Association of Train Operating Companies and the Confederation of Passenger Transport.

In addition, Rory Howard and Alistair Milne will leave the business and stand down from the Board on 31 December 2019 and Paul Mather and Simon Warburton will join the Board from 1 January 2020. 


Jason Starr, CEO of Dillistone Group Plc commented: 

"I'd like to place on record our appreciation of the efforts of Mike, Rory and Alistair.

"Mike joined the Group on flotation, initially as a NED, before stepping up to the Chairmanship in 2010.  His guiding hand and sage advice have been of huge value to us.

"I've worked alongside Rory for more than 20 years and he played a major part in developing us from a business with a handful of staff in a backstreet office in the east end of London, to a global business employing more than 100 staff.

"Alistair has been a driving force behind the restructuring of the business, despite the full knowledge that it would likely lead to his role no longer being required.  His commitment to the business, its staff and its clients, and his all-round professionalism during this period has been outstanding.

"Paul Mather and Simon Warburton joined Dillistone through the acquisition of Voyager in 2011 and have been instrumental in designing the new operating model being adopted through the reorganisation.

"Dillistone has grown through acquisition so a step change in how those previously separate businesses operate was required.  This reorganisation has already shown significant benefits and will be for the benefit of all stakeholders.   With Simon and Paul stepping up to the main board, and with the reorganisation now largely complete, the Board is very excited about the future."


Giles Fearnley, added:

"I also add my thanks to Mike, Rory and Alistair for their work and contribution over many years with the business. I am very much looking forward to working with the management team who are focused on delivering growth for Dillistone."


Pursuant to paragraph (g) of Schedule 2 of the AIM Rules, the following disclosures in respect of Paul Mather and Simon Warburton are made in accordance with their appointment to the Board of Dillistone Group Plc.


Paul Mather

Paul is currently Operations Director of the Voyager Software division and becomes Chief Operating Officer of the Group with effect from 1 January 2020.

Current directorships of Paul Mather:

Gatedtalent Ltd

ISV Software Ltd

FCP Internet Holdings Ltd

FCP Internet Ltd

Voyager Software Ltd

Paul Brian Mather (aged 43) holds options over ordinary shares in the Company as follows: 4,627 options exercisable at 77.8 pence, 95,000 options exercisable at 58 pence and 6,896 options exercisable at 52.2 pence, 75,000 options exercisable at 33 pence.  In addition, his spouse who is also an employee of the Company has options of 8,896 exercisable at 52.2 pence and 35,000 at 33 pence.  He also holds32,177 ordinary shares in the Company. Mr. Mather has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.


Simon Warburton

Simon is currently Managing Director of the Voyager Software division and will become Chief Technology Officer for the Group from 1 January 2020

Current directorships of Simon Warburton:

FCP Internet Ltd

FCP Internet Holdings Ltd

Woodcote Software Ltd

Voyager Software Ltd

Simon Warburton (aged 43) holds options over ordinary shares in the Company as follows: 37,500 options exercisable at 77 pence, 4,627 options exercisable at 77.8 pence, 95,000 options exercisable at 58 pence, 6,896 options exercisable at 52.2 pence and 40,000 options exercisable at 33 pence, in addition to holding 77,290 ordinary shares in the Company.




Dillistone Group Plc



Mike Love


Via Walbrook PR

Jason Starr

Chief Executive


Julie Pomeroy

Finance Director





WH Ireland Limited (Nominated adviser)



Chris Fielding

Managing Director - Corporate Finance

020 7220 1650




Walbrook PR



Tom Cooper /

Paul Vann


020 7933 8780



0797 122 1972



[email protected]




Notes to Editors:

Dillistone Group Plc ( is a leader in the supply and support of software and services to the recruitment industry. Dillistone operates through the Ikiru People brand (

The Group develops, markets and supports the FileFinder, Infinity, Evolve, ISV and GatedTalent products.

Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.  The Group employs over 100 people globally with offices in Basingstoke, Southampton, Frankfurt, New Jersey and Sydney.



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