Aquis Exchange PLC – Trading Update and Board Appointment
Aquis Exchange PLC (AQX.L), the exchange services group, which operates the pan-European cash equities trading MTF, Aquis Exchange, and develops and licenses exchange software to third parties, is pleased to confirm that it has traded ahead of market expectations for the year ended 31 December 2018 ("FY18") and expects to deliver revenues of £4.0 million for FY18, representing a 100 per cent increase on the prior year. The Board anticipates making further progress during 2019 and expects to perform in line with expectations; however during the first quarter Aquis's customers may face a more challenging external environment due to Brexit uncertainty.
The Group expects to announce its audited results for FY18 in early April 2019.
The Company is also pleased to announce that it has appointed electronics engineer and serial entrepreneur Glenn Collinson to its Board, as an independent non-executive director (NED), subject to FCA approval.
Mr. Collinson started his career at Racal and worked for Motorola and Texas Instruments before co-founding Cambridge Silicon Radio in 1998. There he served as an executive director and helped grow the company from a concept to a $3 billion market capitalisation entity in 2006 (as CSR Plc) and one of the biggest players in the Bluetooth market. Since leaving CSR he has held a number of executive and non-executive directorships in UK and French companies - both public and private - that specialise in technology. He is a member of the Institute of Engineering and Technology and holds an MSc in electronics as well as an MBA from Cranfield University.
Commenting on the appointment, Niki Beattie, Chair of Aquis, said:
"I am very pleased to welcome Glenn to the Board of Aquis at this important time in our development as a public company. His background as an engineer and his years of developing and marketing technology products will be invaluable to the business. Crucial too is the first-hand experience he brings of running companies in both the UK and France, the two countries in which Aquis Exchange has a physical presence."
Glenn Collinson added:
"I am very excited to be joining Aquis Exchange - I think the space where financial markets and technology meet will continue to be a huge growth sector and an area where there is real scope for transformative innovation. I look forward to being part of that and helping Aquis continue its journey towards becoming the leading exchange services group."