Quadnetics Group plc, the design, integration and control of advanced surveillance technology, networked security systems and strategic security solutions, is pleased to announce that, further to obtaining shareholder approval at its Annual General Meeting held on 2 May 2012, the process for the change of name to Synectics plc has been completed.
The reason for the name change is that the Synectics brand is now well established and recognized within electronic surveillance markets worldwide. The Board therefore considers that the Group will benefit from the parent company adopting the Synectics name.
It is expected that the Company's shares will commence trading on AIM with the new name with effect from 8.00 a.m. on 17 July 2012 with the ticker SNX and the same ISIN number (GB0007156838).
ICommenting on the name change, John Shepherd, Chief Executive, said:
“We are justly proud of the excellent reputation that the Synectics name has gained both here and around the world and believe changing the parent company name to Synectics plc will benefit the brand value of the whole Group. The word “synectics” refers to a problem solving methodology, which succinctly describes our underlying ethos.”