IN BRIEF: Location Sciences serves notice to CEO, CFO to save costs

Location Sciences Group PLC - London-based location data verification company - Says it continues ...

Alliance News 21 June, 2021 | 10:08PM
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Location Sciences Group PLC - London-based location data verification company - Says it continues to review how best to maximise the value of its two core business units, namely location verification and data and insights. It started the review in February.

"Whilst discussions continue, both internally and externally, it has been concluded that in view of the current scale of these businesses, immediate steps are necessary to reduce operating costs. As a result, notice has been given to both Mark Slade (CEO) and David Rae (CFO), each of whom have 12 month notice periods. Both Mark and David will remain as employees and members of the board for as long as is necessary to realise value from the existing businesses," company says.

Current stock price: 0.56 pence

Year-to-date change: up 47%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Location Sciences Group PLC 0.49 GBX 15.88 -

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