Sondrel Names New CEO, Prepares to Delist from AIM

Sondrel, a leading design house specializing in custom digital chips, recently underwent significant changes following support from ROX Equity Partners Ltd., a UK-based private equity firm. Facing cash flow issues at the end of 2023, Sondrel accepted convertible loans from ROX, resulting in the firm acquiring a 49.2 percent stake in the company. This move was approved by the UK government, marking a new chapter for Sondrel.

The transition also saw the appointment of a new CEO, Chubb, who succeeded Graham Curren, the company's founder and long-time CEO. Chubb brings with him a wealth of senior executive leadership experience in various sectors, including nuclear, ICT, waste, and energy. As a Chartered Engineer and former Royal Naval Commander, Chubb is well-equipped to lead Sondrel into its next phase of growth and innovation.

In a statement released by Sondrel, Chubb expressed his admiration for the company's reputation, stating, "Sondrel has built up an impressive reputation over the past two decades as one of the world's leading design houses that specializes in bringing ultra-complex custom digital chips to market for its customers." This acknowledgment of Sondrel's standing in the industry sets a positive tone for the company's future under Chubb's leadership.

Meanwhile, Curren shared his enthusiasm for the new CEO, stating, "We are delighted to have such a highly experienced CEO join Sondrel. His breadth of experience and track record of leading growth will be invaluable in forging a new exciting future for the company." The mutual respect between the outgoing and incoming CEOs bodes well for a smooth transition and continued success for Sondrel.

Looking ahead, Sondrel has taken steps to further solidify its position in the market by convening a shareholder meeting on August 12 to consider delisting from AIM. The meeting, scheduled to take place at Sondrel's headquarters in Theale near Reading, will require approval from 75 percent of votes cast under AIM rules for the delisting proposal to proceed. This strategic move reflects Sondrel's commitment to charting a new course for sustained growth and innovation.