Speaking exclusively to Proactive, Richardson says: “Spinning [Innovenn] out, we believe, will just bring much greater clarity to our core business and to Innovenn itself.”
“We believe that a separation of the two [businesses] would result in a much more optimal arrangement in terms of maximising shareholder value.”
Richardson also tells Proactive that the true value of Innovenn will now be realised and not “hidden” by the wider business, as he thinks it might have been in the past.
“We would argue that there is considerable value in [Innovenn], but we weren’t really getting recognition for it under our current corporate structure.”
Looking forward, Richardson is bullish about what the future holds for Venn.
“There’s plenty of opportunity to continue to grow the business organically and we want to crack on and do that”