Big Technologies stock falls as CEO suspended on conduct "concerns"

(Alliance News) - Big Technologies PLC on Tuesday announced that Chief Executive Officer Sara ...

Alliance News 18 March, 2025 | 1:56PM
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(Alliance News) - Big Technologies PLC on Tuesday announced that Chief Executive Officer Sara Murray has been suspended from her role, effective immediately.

On the other hand, it also reported a "positive" trading performance in line with expectations.

Nonetheless, Big Technologies shares were down 20% at 84.00 pence on Tuesday afternoon in London.

The Hertfordshire, England-based remote people monitoring technology firm said Murray's suspension was owing to concerns in respect of her conduct.

These concerns, Big Technologies said, recently became apparent in connection with litigation relating to the company's acquisition of Buddi Ltd. Big is currently defending a claim filed with the High Court of Justice of England & Wales in 2023, brought by "a small number of former [Buddi] shareholders".

The company intends to undertake further investigations, led by Interim Chair Alexander Brennan, with Murray suspended while those investigations are ongoing.

Chief Financial Officer Daren Morris will assume the role of interim CEO "to provide leadership and ensure business continuity" while Murray is suspended. Chief Operating Officer Charles Lewinton will continue working with Morris "to ensure operational continuity".

Also on Tuesday, Big Technologies said it has had a positive start to the financial year and continues to perform in line with current market expectations.

Company-compiled forecasts, Big said, expect between GBP50.0 million and GBP50.2 million in revenue for 2024 with a consensus estimate of GBP50.1 million. The analysts polled also forecast adjusted earnings before interest, tax, depreciation and amortisation between GBP26.0 million and GBP27.1 million, with a consensus of GBP26.7 million.

"The electronic monitoring market remains supported by favourable tailwinds and with the group's clear strategy and market-leading products, the board remains confident that the group will return to growth with 2025 revenues exceeding those achieved in 2024," Big Technologies added.

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Big Technologies PLC Ordinary Shares 81.00 GBX 6.86 -

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