Welcome to the IQGeo Investor Relations pages
Proactive Investors interview, September 14th, 2020
CEO, Richard Petti, is interviewed by Proactive Investors’ Katie Pilbeam about IQGeo's interim results for the six months to June 2020. Richard explains how orders are up 120% with over 90% of orders taken as multi-year subscription.
Watch the full video interview on the Proactive website.
IQGeo (AIM: IQG) IQGeo’s end-to-end geospatial software improves productivity and collaboration across enterprise planning, design, construction, maintenance and sales processes for telecoms and utility network operators. Our mobile-first enterprise solutions create and maintain, an accurate view of complex network assets that is easily accessible by anyone, wherever and whenever needed.
Specialized applications combined with our open IQGeo Platform help network operators create a single source of network truth to meet their digital transformation ambitions and operational KPIs. Our award-winning, cloud-enabled solutions save time and money, and improve safety and productivity, while enhancing customer satisfaction.
We have over 50 customers around the world with more than 50,000 user licences of our software that they rely on every date for the safe, efficient operation of their network assets.
The IQGeo™ brand was launched in January 2019 after the RTLS business line and Ubisense brand was sold to Investcorp Technology Partners. Shares in the company previously traded as Ubisense Group plc (AIM:UBI) are now traded under the name IQGeo Group plc (AIM: IQG).
Telecoms and utility operators are dealing with a multidimensional set of challenges that are impacting virtually every aspect of their business. This includes a rapidly changing competitive landscape, growing customer expectations, increasing regulatory oversight, changing network technology, and an evolving workforce.
While these challenges can be daunting, they also creates tremendous opportunity. It is a once in a generation chance to rethink their strategy and relationship with technology and set new benchmarks for the benefits it can bring to their business. At IQGeo, we’re working with network operators to reimagine the role that geospatial software plays in their operational lifecycle.
We deliver geospatial solutions that work for the 95% of the workforce, who are not GIS specialists. We are helping organizations meet their digital transformation challenges with software solutions that engage with a broad audience, delivering productivity and collaboration ROI across the entire business.
IQGeo’s easy-to-use, flexible software is readily adopted by IT, office and field staff and rapidly spreads across the enterprise, delivering true business transformation.
1. Increase revenues
2. Decrease operating costs
3. Improve customer satisfaction
4. Enhance operational safety
IQGeo investment case
Telecom and utility network operators struggle with very complex operational ecosystems involving a wide range of software applications for many different field planning, design, construction and maintenance activities. These complexities impact their ability to remain competitive, deliver strategic high value services and reduce operating costs.
IQGeo business drivers
IQGeo’s end-to-end geospatial software improves productivity and collaboration across enterprise planning, design, construction, maintenance and sales processes for telecoms and utility network operators. Our mobile-first enterprise solutions create a single source of network truth to meet their ambitious digital transformation objectives and operational KPIs.
The following information is disclosed for the purposes of Rule 26 of the AIM Rules for Companies.
Description of Business:
IQGeo Group plc provides geospatial software to the telecoms and utility industries. Our software accelerates a customer's strategic digital transformation initiatives by accelerating productivity and collaboration across enterprise planning, design, construction and maintenance processes.
Country of Incorporation: England and Wales (registered company number 05589712)
Main Country of Operation: United States of America
Full biographies of the directors of the Board can be found at Our People. A description of responsibilities can be found on Corporate Governance.
IQGeo Group plc's nominated advisors are finnCap Ltd. Please visit the finnCap website for more information.
Number of Securities in Issue on 25 August 2020: IQGeo Group plc’s issued share capital is 49,594,086 ordinary shares of 2p each, with no shares held in treasury. 36.3% of shares are held in public hands, and 63.7% of shares are held by related parties.
Links to other key documents:
Copy of the AGM notice dated 21 May 2020
Copy of the circular dated 2 August 2019
Copy of the AGM notice dated 10 May 2019
Copy of the circular dated 13 December 2018
Copy of the circular dated 18 October 2017
Copy of the circular dated 8 April 2016
Copy of the Admission to AIM document
Details of the persons or institutions who, directly or indirectly, hold interests of 3% or more in the Company’s share capital can be found under the major shareholders section.
IQGeo Group plc is not listed on any other exchanges or trading platforms and there are no restrictions on the transfer of securities.
PAGE LAST UPDATED: 25 AUGUST 2020
©2019-2024 IQGeo Group plc. All rights reserved. IQGeo Group plc is incorporated in the UK.
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Below are the constitutional documents for IQGeo Group plc. Please note that these documents refer to Ubisense. The IQGeo brand was launched in January 2019 after the RTLS business line and Ubisense brand was sold to Investcorp Technology Partners. Shares in the company previously traded as Ubisense Group plc (AIM:UBI) are now traded under the name IQGeo Group plc (AIM: IQG).
The Board presently comprises of a Non-Exec Chair, two Executive Directors and four Non-Executive Directors.
Full biographies of the directors of the Board can be found at Our People.
Audit committee responsibilities
Remuneration committee responsibilities
Nomination committee responsibilities
Establish a strategy and business model which promotes long-term value for shareholders
IQGeo has defined the telecoms and utility industries as its target vertical markets. The business strategy is to develop and sell its highly innovative geospatial productivity and collaboration software to these industries, transforming the customers' ability to plan, design, install and service networks including 5G, fibre, coaxial, electricity, gas and water.
The Group is focused on a three-point strategy to achieve the goal of building a fast-growing and cash generative business.
Transition to subscription
Seek to understand and meet shareholder expectations
The Company maintains a dedicated contact form which is prominently displayed on its website together with the Company’s address and phone number for investors to use.
The Company holds an Annual General Meeting (AGM) to which all members are invited. During the AGM, time is set aside specifically to allow questions from attending members to any Board member. As the Company is too small to have a dedicated investor relations department, the Chair and CEO are responsible for reviewing all communications received from members and determining the most appropriate response, engaging the executive team and Board as needed.
In addition to these passive measures, the CEO typically engages with members through investor roadshows held at least twice each year following the release of results.
Take into account wider stakeholder and social responsibilities and their implications for long-term success
In addition to members, the Company believes its main stakeholder groups are its employees and customers.
The Company devotes significant time to understanding and acting on the needs and requirements of these two groups through dedicated meetings and activities designed to obtain feedback directly from the stakeholders.
With regard to corporate social responsibility (CSR), IQGeo is engaged in a range of CSR programmes through corporate activities sponsored by its regional offices. The Company encourages employees to participate in local activities by giving each employee an annual charity day to volunteer for an organisation of their choice. In 2020 IQGeo is also rolling out a charitable giving initiative that allows employees to financially support local and international charities through direct payroll contributions.
IQGeo believes that participation in CSR activities is a fundamental responsibility of the Company. It encourages the personal development of employees and greater community integration, which helps contribute to the long-term success of the Company by creating a more experienced, passionate and productive workforce.
Embed effective risk management, considering both opportunities and threats, throughout the organisation
Risk management on pages 28 to 31 of our 2019 Annual Report details risks to the business, how these are mitigated and the change in identified risks over the last reporting period.
The Board considers risk to the business at every Board meeting and the risk register is regularly reviewed. The Company formally reviews and documents the principal risks to the business at least annually.
Both the Board and senior managers are responsible for reviewing and evaluating risk and the Executive Directors meet at least monthly to review ongoing trading performance and discuss budgets, forecasts and new risks associated with ongoing trading.
The Board of Directors has overall responsibility for the Group’s system of internal control and for reviewing its effectiveness. The risk management process and systems of internal control are designed to manage, rather than eliminate, the risk of failure to achieve the Group’s objectives. It should be recognised that such systems can only provide reasonable, but not absolute, assurance against material misstatement or loss. The Directors acknowledge their responsibilities for the Group’s system of internal control and for reviewing its effectiveness. The principal features of the system of internal financial controls include the following
The Board continually reviews the effectiveness of other internal controls, including financial, operational and compliance controls and risk management.
Maintain the Board as a well-functioning, balanced team led by the Chair
The Company is controlled by the Board of Directors. The Board comprises the Non-Executive Chair, four Non-Executive Directors and two Executive Directors. The Non-Executive Chair is responsible for running the Board and Richard Petti, the Chief Executive, has responsibility for running the Group’s business and implementing Group strategy.
The Non-Executive Directors are required to be available to attend Board meetings and to deal with both regular and ad-hoc matters and they are expected to commit sufficient time to fully discharge their responsibilities. All Non-Executive Directors have confirmed and demonstrated that they have adequate time available to meet the requirements of the role and that they have no conflicts.
Executive Directors work full time in the business and have no other significant outside business commitments.
All Directors receive regular and timely information on the Group’s operational and financial performance. Relevant information is circulated to the Directors in advance of meetings.
The Board is satisfied that it has a suitable balance between independence and knowledge of the business to allow it to discharge its duties and responsibilities effectively but will continue to review the composition of the Board regularly.
The Board holds full meetings at least ten times per year, with attendance required in person whenever possible.
The principal matters that it considers are as follows:
Attendance at the meetings was as follows:
Total meetings attended
Peter Harverson 0 (2)
Paul Taylor 15 (16)
Richard Petti 16 (16)
Tim Gingell 16 (16)
Robert Sansom 13 (16)
Ian Kershaw 13 (16)
Oliver Scott 11 (13)
Andy MacLeod 5 (8)
Max Royde 3 (3)
Figures in brackets denote the maximum number of meetings that could have been attended by that person.
Ensure that between them the directors have the necessary up-to-date experience, skills and capabilities
The Board of Directors has overall responsibility for the Group. Its aim is to provide the leadership and industry‑specific insight required to develop a successful business, through utilising the broad range of skills and experience of the Board members.
The Board is satisfied that, between the Directors, it has significant industry, financial, public markets and governance experience, possessing the necessary mix of experience, skills, personal qualities and capabilities to deliver the strategy of the Company for the benefit of the shareholders over the medium to long term.
The roles of the Chair and CEO are split in accordance with best practice. The Chair has responsibility of ensuring that the Board discharges its responsibilities and is also responsible for facilitating full and constructive contributions from each member of the Board in determination of the Group’s strategy and overall commercial objectives. The CEO leads the business and the executive team ensuring that strategic and commercial objectives are met. He is accountable to the Board for the operational and financial performance of the business.
The Nomination Committee of the Board oversees the process and makes recommendations to the Board on all new Board appointments. Where new Board appointments are considered the search for candidates is conducted, and appointments are made, on merit, against objective criteria and with due regard for the benefits of diversity on the Board, including gender.
The Nomination Committee also considers succession planning.
The Board carries out an evaluation of its performance annually; taking into account the Financial Reporting Council’s Guidance on Board Effectiveness.
Evaluate Board performance based on clear and relevant objectives, seeking continuous improvement
Board members are appointed with full consideration of the knowledge and skills that they will contribute to the Board and are aligned to the needs of the Company at that time. The Chair ensures that full consideration of the development of the Board is addressed by reviewing the Board composition annually in consultation with the other Board members. The Board, through its Remuneration Committee, ensures that appropriate annual performance targets are set for Executive Board members.
The Chair routinely reviews the management and performance of the Board Committees and will address any performance concerns directly with the Chair of, and/or participants of, that Committee.
Promote a corporate culture that is based on ethical values and behaviours
The Board believes that the promotion of a corporate culture based on sound ethical values and behaviours is essential to maximise shareholder value. These values are reinforced with employees by the management team through annual business review sessions and form the cornerstone of the employee performance review process.
The ethical standards at IQGeo are a key factor in the evaluation of individual performance and that of the entire Company.
Maintain governance structures and processes that are fit for purpose and support good decision making by the Board
The Board of IQGeo Group plc currently comprises two Executive Directors, one Non-Executive Chair and four Non‑Executive Directors. For now, the Board considers its composition appropriate given the size of the Company, its revenues and profitability.
The key Board roles are as follows
The primary responsibility of the Chair is to lead the Board effectively and to oversee the adoption, delivery, and communication of the Company’s corporate governance model. The Chair has sufficient separation from the day-to-day business to be able to make independent decisions.
The Chair is also responsible for making sure that the Board agenda concentrates on the key issues, both operational and financial, with regular reviews of the Company’s strategy and its overall implementation
Charged with the delivery of the business model within the strategy set by the Board. Works with the Chair and Non-Executive Directors in an open and transparent way.
Keeps the Chair and Board up to date with operational performance, opportunities, risks, and other issues to ensure that the business remains aligned with its key objectives.
The Board has three sub-committees as follows
The Nomination Committee has responsibility for the following matters
During the period under review, the Nomination Committee has met four times on a formal basis. The Nomination Committee is expected to meet formally twice a year. A summary of Nomination Committee composition and attendance was as follows:
Total meetings attended
Robert Sansom (Chair) 4 (4)
Paul Taylor 4 (4)
Communicate how the Company is governed and is performing by maintaining a dialogue with other relevant stakeholders
The Company views shareholders, customers, employees and the wider community as the key stakeholders.
The Company communicates with its shareholders through regular emails, the Annual Report and Accounts, full‑year and half-year announcements, the Annual General Meeting (AGM) and one-to-one meetings with existing and prospective shareholders.
The Company keenly engages with customers on their use of the products and their desire for future potential development. The Company consults with customers on opportunities for exploiting, or expanding, features and functions of their existing deployment to gain the benefits of further productivity and collaboration.
Each year the Company holds a two-day customer conference called the IQGeo Meet-up. During this interactive event, customers share their challenges and experiences with IQGeo products and engage in workshops and networking activities that promote collaboration with IQGeo and between customers. This provides an opportunity for the IQGeo team to learn directly from our customers and integrate their input into our product development roadmap and service offering.
The Company engages with employees on a regular basis through all-hands meetings, performance reviews and employee surveys. There is a well‑established internal communication process that provides employees with the latest product development, sales, IT and HR information, and essential corporate resources are made available to all employees on an internal IQGeo portal.
The Board invites senior management to attend specific Board meetings to discuss in detail aspects of performance and to gain greater insight on operations. Members of the Board visit the Denver and Cambridge offices from time to time on an informal basis to talk to staff and join Company events where appropriate and possible.
Updated 17 March 2020
Nominated Advisors and Brokers – finnCap Ltd
1 Bartholomew Close, London, EC1A 7BL
Tel : +44 20 7220 0500
Lawyers to the Company - Mills & Reeve LLP
Botanic House, 98-100 Hills Road, Cambridge, CB2 1PH
Tel: +44 844 561 0011
Fax: +44 1223 222252
Reporting Accountants – Grant Thornton LLP
Cambridge Office: 101 Cambridge Science Park, Milton Road, Cambridge, CB40FY
Tel: +44 1223 225600
Fax: +44 1223 225619
Registrar - Computershare Investor Services PLC
Bristol BS99 6ZZ
CB1 Business Centre, 20 Station Road, Cambridge, Cambridgeshire, CB1 2JD
Tel: +44 1223 606655
Fax: +44 1223 535167
IQGeo Group plc's issued share capital is 49,594,086 ordinary shares of 2p each.
% issued share capital
Columbia Threadneedle Investments
Canaccord Genuity Group Inc
NFU Mutual Insurance Society Ltd.
Janus Henderson Investors
Merian Global Investors
Total shares in issue
This information was last updated on 25 August 2020.