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On 25 January 2019, Alcidion Group Limited (ASX:ALC) has announced changes in its Board and senior management, as the company begins its next stage of growth following the successful integration of MKM Health and Patientrack into the Alcidion Group in 2018.Â
Alcidionâs Executive Chairman and co-founder Mr. Ray Blight will move to the role of Non-Executive Chairman. The company has appointed Ms. Kate Quirke as a Group Managing Director, based in Melbourne. In July 2018, Ms. Quirke was appointed as Chief Executive Officer and Executive Director of the Alcidion Group, following the acquisition of MKM Health and Patientrack. Both appointments are effective immediately.
Alcidionâs also mentioned that Mr. Duncan Craig has resigned from his position as Chief Financial Officer and Company Secretary for personal reasons, effective 28 February 2019. The company has appointed Mr. Colin MacKinnon as a Chief Operating Officer / Chief Financial Officer. Currently, Mr. MacKinnon is the Commercial Manager for the Group.
MKM Health co-founder Mr. Colin had responsibility for the commercial operations and financial management of both MKM Health and Patientrack for the past 16 years. He has over 35 yearsâ experience in building and managing businesses which offer IT solutions and services across Australia, New Zealand and the UK including managing the operational integration of acquired businesses.
As stated by Alcidionâs Non-executive Chairman Mr. Ray Blight, he feels very proud of Alcidionâs pioneering technology and their achievements to date. Mr. Blight feels very excited for what lies ahead. The company has executed its strategy to grow through acquisition and follow a smooth and successful transition. Mr. Blight is also grateful to hand over the operational leadership role to MS. Quirke and will work with her in their next phase of growth and development of the business.
The Group will appoint a new company secretary before February 28.
On 19 December 2018, the company has announced that its subsidiary MKM Health has renewed its ongoing support contract for two years with ACT Health. It is valued at $1.27 million and will commence from 1 January 2019 to 31 December 2020.
On 4 December 2018, the company disclosed to the market that one of its directors, Ms. Katrina Elizabeth Doyle who had a direct and indirect interest in the Company, had acquired 2,000,000 fully paid ordinary shares via On-market Purchase for the total consideration of $95,825. MNMD Pty Ltd is the registered holder for the benefit of Ms. Katrina Elizabeth Doyle. Now, the number of securities held by MNMD Pty Ltd are 11,262,919 shares, and there is no change in the direct interest of the director.
Stock performance: The shares of Alcidion Group Ltd are currently trading at A$0.045 (as at 3:20 PM,25 January 2019). The company has 805.67 million outstanding shares with the market cap of circa $36.26 million. The stock has delivered the negative return of 11.76% over the past six months. During the last one month, ALC delivered the positive return of 2.27%.
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