CloudCoCo Announces CEO Departure and Loan Extension

Cloudcoco Group Plc (GB:CLCO) has released an update.

CloudCoCo Group PLC, a major UK managed IT services provider, announced the departure of CEO Mark Halpin and the extension of its loan note maturity with MXC Guernsey Limited from October 2024 to August 2026. In conjunction with the loan extension, MXC Guernsey will increase its influence on the company, having the right to appoint an executive director and potentially strengthen its loan security. The company’s shares will resume trading on AIM following the lift of a temporary suspension and the release of positive FY23 results, indicating a stable future for the company.

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