Brexit Contingency Planning

17th October 2018

SCISYS PLC (“SCISYS”, “the Company”, or “Old SCISYS”), the supplier of bespoke software systems, IT-based solutions and support services to the Media & Broadcast, Space, Government, Defence and Commercial sectors, today confirms a proposed change to the corporate structure of the SCISYS group (the “Group”) as part of its previously announced Brexit contingency planning exercise, the principal objectives of which were to:

  • protect shareholder value;
  • mitigate the possible negative effects of Brexit on the Group’s space business; and
  • retain the Group’s AIM listing.

The restructuring proposals (the “Proposals”) will create a new Group holding company (“New SCISYS”), which will be a public limited company incorporated in Ireland and listed on AIM and the Enterprise Securities Market of Euronext Dublin (“ESM”).  It is intended that New SCISYS will be tax resident in the United Kingdom.

Please click here for the full announcement.

About SCISYS Group:

Employing around 670 staff, SCISYS Group is a leading developer of information and communications technology services, e-business, web and mobile applications, editorial newsroom solutions and advanced technology solutions. The Company operates in a broad spectrum of market sectors, including Media & Broadcast, Space, Government and Defence and Commercial sectors. SCISYS clients are predominantly blue-chip and public-sector organisations. Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Thales Alenia Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, Radio France, RTL, RNLI, Pets at Home, Siemens and the National Trust. The Company's registered office is in Dublin, with UK offices in Chippenham, Bristol, Leicester and Reading and German offices in Bochum, Dortmund, Darmstadt and Munich.