FD Technologies plc (AIM:FDP) is looking for structure review. In May 2021 the Board implemented, alongside its accelerated growth strategy, a change in Group structure to enable each of our business units to communicate its value proposition and maximise its growth opportunity. This strategy has been effective and the Group now comprises strong businesses with good competitive positions in large and growing markets.

Each has a distinct investment proposition, resulting from their differing operating models, and therefore capital allocation requirements. In light of this, the Board has decided to undertake a preliminary review of the optimal organisational structure and allocation of capital to best position the Group to drive value for shareholders. The review is at an early stage and the Board anticipates the result of this review will be communicated to shareholders not later than publication of the Group?s FY24 results.

Seamus Keating, CEO of FD Technologies, commented: ?We have continued to drive strategic progress across the Group in the first half, with KX highlights including the launch of KDB.AI and strong progress with our global partners. We delivered a resilient performance in First Derivative and MRP despite weaker customer demand in their respective markets and will continue to manage these businesses to protect margins while ensuring they are well positioned to grow as demand improves. In May 2021 we set out plans for additional investment in KX accompanied by ambitious targets that called for rapid acceleration in ARR.

Having exceeded these targets in each of the past two years, we stated in May 2023 our belief that additional investment in KX could further accelerate our annual growth rates to 45% plus. The breadth and scale of opportunities within KX, resulting in rapid growth in our pipeline, has convinced the Board that now is the right time to make this additional investment in both product and go-to-market. This investment is a statement of confidence in the prospects for KX and is accompanied by targets that would create significant value for shareholders?.