13 September 2023

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Board Change

Sondrel (AIM: SND), the fabless semiconductor business providing turnkey services in the design and delivery of 'application specific integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading global technology brands, announces that, by mutual agreement, Joe Lopez will be standing down as Chief Financial Officer with immediate effect and will step down as a director of the Company prior to 30 September 2023. Nick Stone will become non-board Interim Chief Financial Officer of the Group with effect from 14 September 2023. 

Nick Stone is a highly experienced CFO with a strong track record, built over 25 years, successfully leading a variety of finance roles with particular capital markets expertise.  Most recently Nick was CFO of Braemar plc from 2019 to 2023.  His other previous roles include CFO of The Appointment Group Ltd, Interim CFO of Crown Agents Ltd, and CFO roles at Hornby plc and KBC Advanced Technologies plc.

An executive search process for a permanent CFO has also been initiated with immediate effect.

The Board would like to thank Joe for the contribution he has made to the Group over the last four years and wishes him well for the future. A further announcement will be made on his resignation as a director of the Company.

Change of Name of Nominated Adviser and Broker

The Company also announces that its Nominated Adviser and Broker has changed its name to Cavendish Securities plc following completion of its own corporate merger.

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end, complex digital Application Specific Integrated Circuits (ASICs) and System on Chips (SOCs). It provides a full turnkey service in the design, prototyping, testing, packaging and production of ASICs and SoCs.

The Company is one of only a few companies capable of designing and supplying the higher-spec chips built on the most advanced semiconductor technologies, selling into a range of hyper growth end markets such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres.  Sondrel designs have enabled products by leading technology brands including Apple (iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

Sondrel is well-established, with a 20-year track record of successful delivery, supported by long standing ecosystem partnerships including Arm, TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with offices in UK, USA, China, India and Morocco.

For more information please visit: ir.sondrel.com.