IMImobile is a cloud communications software and solutions provider that enables companies to use mobile and digital technologies to improve customer experience and engagement.
IMImobile’s cloud software platform manage overs 42 billion messages and 44 billion commerce transactions a year across the world. Organisations that trust us to deliver smarter digital customer engagement include Centrica, AA, O2, EE, BT, Foxtons, Pizza Hut, Vodafone, AT&T, MTN, three of the major retail banks in the UK and public sector organisations in India, US and the UK.
IMImobile is headquartered in London with offices in Hyderabad, Atlanta, Dubai and Johannesburg and has over 1,000 employees worldwide. IMImobile is quoted on the London Stock Exchange’s AIM market with the TIDM code IMO.
Annual Report & Financial Statements 31st March 2017READ NOW
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Board of Directors
Board of Directors
John Allwood is a Non-Executive Director of TalkTalk Telecom Group plc and Independent Non-Executive Chairman of Adgorithms plc. He has spent his career in media and telecoms holding a number of senior positions including Chief Executive of Orange UK, Finance Director and Chief Executive of Mirror Group plc, Finance Director and COO of Mecom Group plc and Managing Director of Telegraph Media Group Limited. He is a governor of Exeter University.
John holds a B.A (Hons) in Economics and Statistics from Exeter University, as well as being a fellow of the Institute of Chartered Accountants of England and Wales.
Chief Executive Officer
Jay is the CEO of IMImobile and has been working with the Company for 14 years, initially as a venture capital investor but since 2010 as Managing Director of the Group and since 2013 as CEO. He has a wide range of operational and strategic experience in growing and selling high growth businesses. Jay has previously held executive positions at Spark Ventures, UBSWarburg and BSkyB. He is a qualified Chartered Accountant with KPMG and holds degrees from INSEAD and the London School of Economics.
Chief Financial Officer
Mike joined IMImobile in 2010 when it acquired WIN plc. Since then Mike has headed the group finance function. Before that he worked for Star Trac Inc, a US based manufacturer and distributor of commercial fitness equipment and previous to that for Whirlpool Corporation. Mike has a degree in accounting and finance and is a Chartered Management Accountant.
Non-Executive Director and Founder
Vish founded IMImobile with a vision of harnessing India’s intellectual resources of India to develop an IPR centric technology company. While recognising the potential of the rapidly evolving mobile data space, Vish was aware that fast growth was needed to keep pace with ever changing technology. Vish therefore set out to build a company which would liberate mobile operators and media companies of technological complexities thus enabling them to realize their revenue potential.
Vish has extensive experience in technology and was previously involved in setting up an Indian hi-tech consumer services company in the healthcare sector. Vish is a Chartered Accountant.
Simon Paul Blagden, CBE
Independent Non-Executive Director
Simon, CBE, has over 20 years’ experience in the telecoms and IT industry, living and working in most regions of the world across a truly international career. Following 5 years at GEC Plessey as International Commercial Manager and then Country General Manager, Simon joined The Quante Group as UK Managing Director. In 1995, he joined Quante’s main board as International CEO, with operations in over 50 countries worldwide, and he led the sale of the company to 3M in 2000.
Simon was appointed a Member of The Order of The British Empire in 1997, and Commander of The Order of The British Empire in 2016 for services to industry. He is also non-executive Co-Chairman Fujitsu Telecommunications Europe Limited. He served as Chairman of the Supervisory Board at Pegg Capital AG. He served as Director of International Operations of Spescom Ltd and also served as Executive Director.
CTO and Founder
Bhat is a founder of the business and has more than twenty years’ of experience in engineering and new product development. He is responsible for the creation of all the engineering and mobile products and platforms. Bhat is an engineering graduate from the highly prestigious Indian Institute of Technology, Bombay.
Result of AGM
Notice of AGM announcement
Form of ProxyDownload
Results and Presentations
Annual Report - 2018Download
Preliminary Results Year Ended 31 March 2018 (Presentation)Download
Interim Results - Ended 30 September 2017 (Presentation)Download
Annual Report - 2017Download
Results year ended 31 March 2017 (Presentation)Download
Interim Results - Ended 30 September 2016 (Presentation)Download
The Board of Directors of IMImobile PLC (“IMImobile”, the “Company” or the “Group”) recognises the importance of good corporate governance and is committed to ensuring that an effective and appropriate framework exists in the Group. The Board has adopted the QCA Corporate Governance code and has applied the principles having considered the size and complexity of the Group’s operations as well as best practice for an AIM listed company.
The QCA Corporate Governance code is constructed under ten broad principles; these principles ensure that companies are committed to delivering growth in long-term shareholder value, that the company has an effective and dynamic management framework accompanied by good communication which promotes confidence and trust.
1. ‘Establish a strategy and business model which promote long-term value for shareholders.’
IMImobile’s business model and strategy is outlined on a yearly basis in the Chief Executive’s report in the Company’s Annual Report. This report analyses performance across the Group on a regional basis and outlines any particular issues that have impacted growth in the past year. Our growth strategy has remained relatively consistent over the last few years focussing on four main areas which are outlined in our latest financial results presentation:
- Grow share of interactions from existing customers;
- Accelerate organic growth via channel partners;
- Introduce new technologies and invest in our Intellectual Property (“IP”); and
- Make acquisitions which provide further distribution of the Group’s IP
In addition, the principal risks and uncertainties identified by the Board to the successful delivery of the Company’s strategy, together with the principal controls in place to mitigate those risks, are set out on Pages 21 – 23 of the Annual Report. The Board reviews the Company’s risk register at each full Board meeting.
2. ‘Seek to understand and meet shareholder needs and expectations.’
The Company engages in full and open communication with both institutional and private investors and responds promptly to all queries received. Investors and shareholders are encouraged to make contact with the Company by contacting our advisors https://imimobile.com/investor-relations/#advisers-and-registrars or submitting enquiries via the Company’s website https://imimobile.com/contact/.
In conjunction with the Company’s brokers and other advisors, all relevant news is distributed in a timely fashion through appropriate channels to ensure shareholders are able to access material information on the Company’s progress.
To facilitate this:
- All shareholders are invited to attend the Annual General Meeting (“AGM”) and are encouraged to take the opportunity to ask any questions they may have.
- The primary point of contact for shareholders on operational matters is Jay Patel as CEO and Mike Jefferies as CFO.
- The primary point of contact for shareholders on corporate governance and other related matters is John Allwood as Chairman.
The executives meet regularly with shareholders, usually, immediately after the Company’s half year and full year financial results announcements, these meetings are used to discuss the Group’s performance and answer any questions they may have. The Board monitors feedback from these meetings through anonymous evaluations from both shareholders and analysts co-ordinated by the Company’s advisors.
The Company’s website www.imimobile.com has a section for investor relations which contains all publicly available financial information and news on the Company.
3. ‘Take into account wider stakeholder and social responsibilities and their implications for long-term success’
The Company reports on its Corporate Social Responsibility in the Annual Report. At IMImobile, we are committed to operating at the highest ethical standards and with integrity. We are proud to be a partner of the UN Global Compact initiative, committed to adopting sustainable, socially responsible policies and adherence to their universal principles on human rights, labour practices, the environment and anti-corruption. We care deeply about the impact that we have on our employees, our customers and the wider community.
4. ‘Embed effective risk management, considering both opportunities and threats throughout the organisation.’
The Board has overall responsibility for managing risk. Risks are formally identified and recorded in the Company’s risk register, which is reviewed by the Board at each full board meeting. Risks are evaluated based on likelihood and potential impact, including any change from the prior year, and the adequacy of current mitigating controls to reduce risk is reviewed during the meeting. The Board do not consider there to have been any significant changes in the severity of the risks during the year.
The principal risks and uncertainties of the Group are set out in the Company’s Annual Report. For details please follow this link:
Maintaining a Dynamic Management Framework
5. ‘Maintain the Board as a well-functioning, balanced team led by the Chair’
The Board of IMImobile have a collective responsibility and legal obligation to promote the interests of the Company. The Board is committed to ensuring that an effective and appropriate corporate governance framework exists in the Group, given the size and complexity of the Group’s operations. Details of the composition of the Board and the Company’s board committees, being the audit committee, remuneration and nomination committees are set out in the following links: https://imimobile.com/investor-relations/#board-of-directors and https://imimobile.com/investor-relations/#corporate-governance
6. ‘Ensure that between them the directors have the necessary up-to-date experience skills and capabilities.’
The composition of the Board has been designed to provide a variety and balance of different skill sets, this includes significant experience in:
- Technological innovation;
- Media & Telecoms sectors;
- Entrepreneurial culture;
- Senior financial qualifications; and
- Other listed PLC companies.
Through this extensive experience, the Board and individual Directors are well-positioned to set out the strategic aims of the Company, drive and uphold the Group’s values and ethical standards as well as minting their obligations to shareholders interests.
The Board is also supported by an experienced and capable operational leadership team across the Group who operate within a clearly laid out framework of devolved decision-making.
For details of the biographies of the Board please click here. https://imimobile.com/investor-relations/#board-of-directors
7. ‘Evaluate the board performance based on clear and relevant objectives, seeking continuous improvement’
The Board has concluded that its performance in the years since the Company listed on AIM has been satisfactory.
The Board has also agreed that in the current year and each year thereafter it will undertake a formal evaluation, in the form of a detailed questionnaire to be completed by each Director. This review will include an evaluation of the performance of individual Directors including the Chairman and the individual committees.
Under the Company’s Articles of Association at every Annual General Meeting, at least one-third of the Directors are required to retire and may be proposed for re-election.
8. ‘Promote a corporate culture that is based on ethical values and behaviours.’
The culture across the Group is one born out of respect for and collaboration between colleagues, customers and partners. Employees are actively encouraged to share their views with management of the Group across several different mediums from employee engagement surveys to anonymous online feedback tools to ‘town-hall’ style forums where updates are shared on progress across the Group, strategic initiatives and business objectives.
IMImobile is proud to be a partner of the UN Global Compact Initiative. The Company is committed to adopting sustainable, socially responsible policies and adherence to their universal principles on human rights, labour practices, the environment and anti-corruption. The Corporate Social Responsibility section in the Annual report outlines how we conduct our business and our consideration towards our employees, the wider community and the environment.
9. ‘Maintain governance structures and processes that are fit for purpose and support good decision-making by the board.’
The Board has established clearly defined and well-understood roles for all members of the Board. The Chairman, John Allwood, is responsible for the leadership of the Board, ensuring its effectiveness and setting its agenda. Once strategic and financial objectives have been agreed by the Board, it is the Chief Executive Officer, Jay Patel’s, responsibility to ensure they are delivered upon.
The Non-Executive Directors provide a sounding board to the Chairman as well as providing an additional channel of contact for shareholders, other directors or employees, if the need arises. There is regular communication between Executive and Non-Executive Director’s including, when required, matters requiring attention prior to the next Board meeting.
The members and roles of the committees of the Company can be found by clicking here:
10. ‘Communicate how the company is governed and is performing by maintaining a dialogue with shareholders and other relevant stakeholders.’
The Directors make themselves available to meet with, answer questions from and provide updates to shareholders in several different forums, including investor roadshows, ad-hoc meetings, product and company updates held at the Company’s head office and various events for smaller shareholders.
Updates on trading and newsworthy progress are provided across various communications channels, and updated on the Company’s website from time to time.
The Board also welcomes enquiries from shareholders via its advisors https://imimobile.com/investor-relations/#advisers-and-registrars or through the Company’s website https://imimobile.com/ and welcomes shareholders who wish to attend its AGM and hear more about the Company’s governance or progress.
Notice of Annual General Meeting (September 2018)
Preliminary Results (March 2018)
Interim Results (September 2017)
Preliminary Results (March 2017)
Interim Results (September 2016)
Preliminary Results (March 2016)
The Company’s issued share capital consists of 65,334,229 ordinary shares with a nominal value of 10p each (“Ordinary Shares”), each share having equal voting rights.
The Company does not hold any Ordinary Shares in treasury and therefore the number of Ordinary Shares with voting rights is 65,334,229.
The following interests of directors or shareholders in excess of 3% have been notified to the Company:
|Ordinary shares of
10 pence each (Number)
|Percentage of ordinary
shares of 10 pence each
|Percentage of total
|Liontrust Investment Partners LLP||12,715,727||19.5%||19.5%|
|Canaccord Genuity Group Inc||7,948,064||12.2%||12.2%|
|Kestrel Partners LLP||4,645,405||7.1%||7.1%|
|Gresham House Strategic Plc*||3,987,392||6.1%||6.1%|
|Merian Global Investors (UK) Ltd||3,380,763||5.2%||5.2%|
|Otus Capital Management L.P||3,114,617||4.8%||4.8%|
|Brown Shipley & Co Limited||3,073,491||4.7%||4.7%|
In accordance with AIM Rule 26 in so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 16.2%.
The Company is subject to UK City Code on Takeovers and Mergers.
Last updated on 9 October 2018
*combined holding of Gresham House Strategic PLC and Public Equity Fund LP
**Viswanatha Alluri owns shares via Tarimela Advisors Private Limited
NUMBER OF AIM SECURITIES IN ISSUE
Please click here for the number of securities in issue, the number of securities held as treasury shares and, insofar as the Company is aware, the percentage of securities that is not in public hands together with the identity and percentage holdings of significant shareholders.
DETAILS OF ANY RESTRICTIONS ON THE TRANSFORM OF AIM SECURITIES
No Ordinary Shares are currently held as treasury shares and there are currently no restrictions on the transfer of Ordinary Shares.
COUNTRY OF INCORPORATION AND MAIN COUNTRY OF OPERATION
Country of Incorporation: England
Company registration number: 08802718
Main Country of Operation: United Kingdom
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORMS
The Company is not listed on any other exchanges or trading platforms.
Advisers and Registrars
30 Gresham Street
London, EC2V 7QN
30 Gresham Street
London, EC2V 7QN
Whitman Howard Limited
1st Floor Connaught House,
1-3 Mount Street, London, W1K 3NB
Lawyers to the Group
Bracher Rawlins LLP
77 Kingsway, London, WC2B 6SR
2 New Street Square
London, EC4A 3BZ
Sky Light City Tower, 50 Basinghall Street, London EC2V 5DE
Capita Asset Services
34 Beckenham Road
Beckenham, BR3 4TU