The change reflects the Group’s focused strategy of providing technology and services for smart buildings and commercial spaces through its core businesses, Redstone and Connect IB.
The new ticker symbol is: REDS.
Shareholdings will be unaffected by the change of name and existing share certificates should be retained as they will remain valid for all purposes. Any new share certificates issued after 28 June 2016 will bear the name RedstoneConnect Plc.
Mark Braund, Chief Executive of RedstoneConnect commented:
“We have successfully repositioned the business to focus on a defined strategy to use technology and innovation to make buildings and commercial spaces smarter. Our new name and identity reflects this strategic direction."
"At the core of our offering is the Redstone operation, a leading IT network and smart building systems integrator, with a blue chip customer base and a thirty year heritage. This has been enhanced through the acquisition in March of Connect IB, a smart buildings software and solutions business."
"The opportunities for deploying smart technology into buildings and commercial spaces continues to grow at pace and we are delighted to have already secured a number of new contracts which utilise services from across the Group. I look forward to continuing to update shareholders on our progress through the remainder of the current financial year.”