Innovise shareholders approve AIM cancellation

SHAREHOLDERS in Black Country IT and software firm Innovise have approved the firm’s cancellation from the Alternative Investment Market (AIM).

A resolution proposing the move was supported at the Brierley Hill firm’s general meeting yesterday.

Cancellation will be effective from 7am on July 8.

The firm has also announced a series of board changes, the first of which sees non-executive chairman Vin Murria and non-executive director David Lean stepping down from the board.

Steve Coussins, an existing board member, has been appointed non-executive chairman.
 
Mike Taylor, chief executive of Innovise, said: “I wish to express my gratitude and best wishes to Vin Murria and David Lean for the excellent contributions they both made to Innovise’s successful development during our time on AIM. I am delighted that Steve Coussins, who has exceptional experience within our industry, has agreed to serve as chairman.”
 
To provide a market for Innovise shares after the cancellation, the company has entered into an agreement with JP Jenkins to provide matched bargain share trading services. Details of the move will be published on the Innovise website in due course.
 
JP Jenkins is a trading division of Rivington Street Corporate Finance Ltd, a subsidiary of Rivington Street Holdings.
 
Innovise said earlier this month a detailed cost-benefit analysis had vindicated the decision to cancel its AIM listing. It said at the time, its intention was to remain a public company.

The firm is split into two divisions, each of which has its own management team and focused growth strategy.
 
Innovise ESM works with major organisations to transform complex IT environments, while Innovise Software & Solutions consists of two complementary units – Innovise Software and Innovise Solutions, the latter a managed support service including remote database administration, infrastructure management and Microsoft solutions.
 
The firm also has offices in Slough, Southampton, London and Mumbai.