finnCap Research Company Notes - 7 January 2020

Jan 07, 2020 / News

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Sector: Technology & Telecoms

Ideagen (IDEA) : Corp

Retirement of CFO

Key data                          

  • Share price (p)                191.5
  • Target price (p)              180.0
  • Market cap (£m)                          428.2
  • Enterprise value (£m)                 446.4

Ideagen has announced the retirement of CFO Graeme Spenceley as of 1 July 2020. Graeme has served the group for over ten years, including most of the group’s 18 acquisitions and its July 2012 AIM IPO (moving up from PLUS markets) at a share price of 14p and £10.9m market cap. Having never missed a profit forecast, Graeme’s track record has been exemplary and his positive influence will remain through the non board part-time position as company secretary. Emma Hayes, currently Group Finance Director, Capital Delivery and Commercial at Severn Trent, will replace Graeme – Emma’s experience includes driving operational efficiencies through her 100-strong team, and previously leading origination and execution of a wide range of M&A transactions through ten years at Deloitte. We look forward to interims on 22 January.

Andrew Darley

020 7220 0547

adarley@finncap.com

finnCap operates an ‘access-for-all’ approach for corporate research, approved by the FCA and paid for by finnCap’s corporate clients.

 

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