22nd Nov 2019 08:18
(Alliance News) - Brady PLC said Thursday it has appointed Matthew Peacock, Nick Greatorex and Jog Dhody as non-executive directors with immediate effect.
Brady said these appointments follow confirmation that Hanover Acquisition Ltd's recommended takeover offer had been declared wholly unconditional, with Hanover now interested in 56% of Brady's issued ordinary share capital.
The recently upgraded 18p per share offer values the entire share capital of Brady at GBP15.0 million. Earlier in October, Brady had agreed to a 10p per share cash takeover offer made by Hanover, valuing the firm at GBP8.3 million. The successful offer's closing date is December 5, though it may be extended.
The trading and risk management software provider said Peacock is the founding partner and chief executive of Hanover Investors. The company said that in 2002 Peacock founded Hanover Investors. Since then he has led change strategies and turnarounds for a large number of companies as both an investor and board member.
Meanwhile Dhody has worked closely with Hanover since 2012 and joined Hanover in 2017 as chief operating partner, and has "deep industry experience across a range of technology and technology enabled businesses."
Greatorex is currently a non-executive director of Kalibrate Technology Ltd and was previously group finance director and interim chief executive of Capita PLC.
Brady shares were 0.3% higher in London at 17.75 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
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