26th Apr 2024 09:49
(Alliance News) - Redde Northgate PLC on Friday said it plans to change its name to Zigup PLC, saying the "more modern brand" reflects its new focus on providing "mobility solutions across the vehicle lifecycle, through an integrated platform".
The Darlington, England-based commercial vehicle hire firm said it is moving away from "simple verticals" such as van hire and accident management and instead helping its customers "move smarter".
Redde Northgate called a general meeting on May 15 for shareholders to vote on the new name.
"Our new brand and company name, Zigup are allied to a refreshed strategic framework under the new pillars of 'enable, deliver and grow', and a recent [UK and Ireland]-focused management reorganisation, as we embrace the changing environment in which we and our customers operate," the company said.
"Together these reflect the strength and breadth of our current proposition as an enlarged group of businesses, our continued focus on growth, and commitment to being a leading provider of responsible and integrated mobility solutions and automotive service."
Redde Northgate the its operational brands won't change as part of the change in company name.
Shares in Redde Northgate were up 1.3% to 385.50 pence each in London on Friday morning.
By Greg Rosenvinge, Alliance News senior reporter
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