Global Graphics PLC: General meeting of shareholders and proposed change of name
Cambridge (UK), 28 September 2021: Global Graphics PLC (Euronext: GLOG) has today issued a Notice of General Meeting to its registered shareholders for the purpose of considering and, if thought fit, passing a special resolution to change the name of the Company.
The Company’s Board of Directors is proposing to change the Company’s name to Hybrid Software Group PLC. They consider that this is in the best interest of the Company and its shareholders.
Although the Company is comprised of four separate operating companies, each with its own brand identity and market positioning, the Company’s branding is used to communicate the overall mission and focus of the Group externally to current and potential customers, shareholders and other stakeholders. The Board is of the opinion that the current name does not clearly reflect the Group’s current mission and focus, for several reasons, including:
- The composition of the Group and its products and services have changed. Global Graphics PLC was established by a series of acquisitions of pre-press hardware manufacturers, none of which remain part of the Group today.
- The industries served by the Group have changed significantly. Graphics, or even printing, is not broad enough to describe our primary market of industrial inkjet manufacturing and the products and services that we sell.
- The majority of the Group’s revenue and earnings are derived from the sales of software and related products and services. This is not reflected in the current name of the Company.
After much consideration, the Board has decided that Hybrid Software Group PLC provides a more accurate description of the Group’s mission. The acquisition of HYBRID Software in early 2021 has been a rapid success, with the new business contributing roughly half of the H1 2021 revenues and EBITDA of the total group. With more than one thousand end-user customers already using the products of HYBRID Software in the label & packaging segment, it is logical to leverage some of the brand equity and name recognition of HYBRID Software for the combined Group when operating in this segment.
No operational or structural changes to the Company are planned as a result of this re-branding exercise. The Company will remain a Public Limited Company based in Cambridge, UK, and will continue to be listed on Euronext Brussels. We anticipate that the new stock symbol will be HYSG, pending approval by Euronext.
Furthermore, each of the Group’s operating companies – Global Graphics Software, HYBRID Software, Meteor Inkjet, and Xitron – will continue operating under their own brands as before, with no changes planned to their branding.
The resolution to change the name is a special resolution, which requires at least 75% of the shareholders voting at the meeting to vote in favour of the resolution.
All proxy voting will be conducted electronically via the Company’s share registrar, Link Group. Details of which have been provided to registered shareholders. For shares held in nominee accounts please contact the nominee account provider to establish their process for submitting proxy votes.
Registered shareholders are invited to join the meeting by video conference and must register by 15:00 (CEST) on 12 October 2021. To register for the meeting please email your request to firstname.lastname@example.org.
More information and full details about the meeting and voting can be found in the Notice of General Meeting on the Company’s website at https://investor.globalgraphics.com
Shareholders are also invited to attend a Q&A session with Mike Rottenborn and Graeme Huttley via a video conference call on Friday 1 October 2021, at 15:00 CEST. To register for this conference call, please email email@example.com by 14:30 CEST on Friday 1 October 2021. Details of how to join the meeting will then be provided by email.
About Global Graphics PLC
Through its operating subsidiaries, Global Graphics PLC (Euronext Brussels: GLOG) is a leading developer of integrated hardware and software solutions for graphics and industrial inkjet printing. Customers include press manufacturers such as HP, Canon, Durst, Roland, Hymmen and Mark Andy. Global Graphics PLC is headquartered in Cambridge UK. Its subsidiary companies are printing software developers Global Graphics Software; the industrial printhead driver solutions specialists, Meteor Inkjet; pre-press workflow developers Xitron and enterprise software developer HYBRID Software.
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