Sprue Aegis plc (renamed FireAngel Safety Technology Group plc)
(the “Company” of the “Group”)
Change of name to FireAngel Safety Technology Group plc
Further to the Result of AGM announcement earlier today regarding the Company’s Annual General Meeting and its approved name change, Sprue Aegis plc, one of Europe’s leading developers and suppliers of home safety products, announces that its name has now changed to FireAngel Safety Technology Group plc. From 8.00 a.m. tomorrow, the Company’s ordinary shares will trade on AIM under the new name of FireAngel Safety Technology Group plc and the new TIDM of ‘FA.’ (previously SPRP).
The Company’s ISIN (GB0030508757) and SEDOL (3050875) will remain the same and existing share certificates will remain valid and will not be replaced.
At 7.00 a.m. tomorrow, the Company’s new website will go live at www.fireangeltech.com.
The Company’s change of name reflects the transformation of its operations and the shift in strategic direction that has taken place over the last eighteen months. This has been driven by the Company’s renewed focus on its core brand, FireAngel, and on the development of innovative home safety technology, including its connected home product offering. The Company will also be working to consolidate its brands in order to leverage FireAngel, which is widely-recognised in the industry.
Going forward, the Company’s key strategic priorities are:
- To build on the Company’s strong existing market presence, capitalise on its technology and exert greater end-to-end autonomy over the product offering, all underpinned by strong IP protection and in-house product development capabilities;
- To accelerate the development of the Group’s technology driven, own branded FireAngel products, seeking entry into new territories and markets;
- To leverage Flex’s manufacturing footprint and expertise, benefitting from supply chain capabilities and efficiencies going forward; and
- To capitalise on the high growth potential of the Company’s ‘Connected Homes’ proposition, and increase sales and reach of the FireAngel Connect system.