Market's view on Sysgroup
Published on April 2024
- Heejae Chae has been appointed as a Non-Executive Director at Elementis plc, effective from 25 March 2024. He will also join the Audit, Nomination, and Remuneration Committees.
- Heejae Chae has an extensive background in finance and industry, including roles at The Blackstone Group, Donaldson Lufkin and Jenrette, Amphenol Corporation, Volex Group plc, and Scapa Group plc.
- Heejae Chae currently holds a significant shareholder position in SysGroup plc and has recently increased his stake to over 14%.
- Recent board changes at SysGroup plc included the resignation of Martin Audcent and the appointment of Owen Phillips as Chief Financial Officer, effective 11 March 2024.
- SysGroup plc has reported strong Q3 trading with double-digit revenue growth and has signed a new £500k contract and an inaugural AI/Machine Learning contract with a drug discovery company.
- Darren Carter significantly increased his shareholding in SysGroup plc to 10.29%, purchasing shares from Praetura Group.
- Elementis plc is executing ambitious strategic goals, with Heejae Chae’s appointment expected to contribute significant value based on his track record.
- SysGroup plc is poised to close its Liverpool office and change its Registered Office to Manchester as it continues to focus on cloud, data, and security solutions to power AI and Machine Learning transformations.
- The recent board changes and strategic adjustments at SysGroup plc follow the company’s goal to become a leading provider of AI-driven IT services.