Change of Name to RedstoneConnect

Shareholders have approved the renaming of Coms plc to RedstoneConnect plc.

The change reflects the Group’s focused strategy of providing technology and services for smart buildings and commercial spaces through its core businesses, Redstone and Connect IB.

RedstoneConnect’s key strategic priorities include:

Building on the Group’s established presence in the high growth smart buildings and smart technologies arena

Leveraging cross-selling opportunities throughout the Group’s substantial customer base, including many blue chip organisations

Developing and expanding the Group’s annuity revenue streams in software, managed services and support and maintenance

Rolling out the new occupancy management software solution, OneSpace

Broadening the Group’s intellectual property applications to a wider spectrum of smart environments

Investing in research and development that underpins the next generation of product development

Evaluating selective acquisition opportunities that support the Group’s strategy of enhancing the portfolio of products and services for smart buildings and commercial spaces.

The change of name takes effect from 8 a.m. on 28 June 2016 concurrent with the adoption of a new ticker symbol: REDS.

Shareholdings will be unaffected by the change of name and existing share certificates should be retained as they will remain valid for all purposes. Any new share certificates issued after 28 June 2016 will bear the name RedstoneConnect Plc.

Mark Braund, Chief Executive of RedstoneConnect commented:

 “We have successfully repositioned the business to focus on a defined strategy to use technology and innovation to make buildings and commercial spaces smarter. Our new name and identity reflects this strategic direction." 

"At the core of our offering is the Redstone operation, a leading IT network and smart building systems integrator, with a blue chip customer base and a thirty year heritage. This has been enhanced through the acquisition in March of Connect IB, a smart buildings software and solutions business."

"The opportunities for deploying smart technology into buildings and commercial spaces continues to grow at pace and we are delighted to have already secured a number of new contracts which utilise services from across the Group. I look forward to continuing to update shareholders on our progress through the remainder of the current financial year.”