Company Announcements

30 March 2021 

AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Company" or "the Group")

Appointment of Chief Executive Officer

K3, which provides mission‐critical business software and cloud solutions, is pleased to announce the appointment of Marco Vergani as Chief Executive Officer of the Group, effective immediately.

Marco, aged 57, has over 30 years' experience in the technology industry, and has served in international executive and leadership roles across UK, Europe, US and Asia. The major part of his career has been in commercial sales, and he has extensive experience of retail and direct-to-consumer sectors.

Marco worked in senior executive sales roles at IBM for 26 years, latterly as Vice-president of EMEA sales for Global Process Services. More recently he was Chief Operating Officer at Qubit, a global leader in e-commerce personalization, serving global luxury, cosmetics and fashion brands. Before Qubit, he was Global Senior Vice-President, Sales and Account Management at Digital River, the provider of SaaS-based e-commerce, payments and marketing solutions globally, which also operated as an authorized reseller to consumers.   

Chairman, Tom Crawford, who had assumed the role of interim Chief Executive Officer on 5 March 2021 during the recruitment process, relinquishes this position with Marco's appointment.

Marco Vergani, Chief Executive Officer, said,

"I am delighted to be joining K3. The Company has developed a number of market-leading software solutions, and I believe there is a significant opportunity to sharpen its existing strategy to grow own-IP sales, and in particular the K3|imagine solution. My background in commercial sales and the retail and direct-to-consumer sectors is directly relevant, and I look forward to working with colleagues, clients, and strategic partners to continue to innovate and drive long-term, high-quality, subscription-based earnings."

Tom Crawford, Chairman, said,

"We are very pleased to welcome Marco as K3's new CEO. Marco has a strong commercial track record, and extensive omni-channel experience. In particular, he understands digital transformation and the SaaS business model in our markets. He is well-qualified to lead K3 and drive the next stage of its development."

In accordance with Schedule 2(g) of the AIM Rules, the following disclosures are given:

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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