By Elric Langton | 6 February 2022
I recently wrote an opinion piece on the significance of Environmental Social and Governance (ESG) on our everyday lives, some good, some not so good. Whether you are in favour of ESG or not, one company in particular set to benefit from it is Insig AI Plc (INSG).
Commercial momentum looks set to ratchet up a gear or three - more on that in a moment.
It is worth reminding investors and potential investors alike of Colm McVeigh who was brought on board to build commercial momentum. He has an impressive CV, and a less than impressive salary. His payback appears to be his share options. The price at which they are triggered should indicate where he and the board believe Insig will be in the not too distant future.
Colm has options over 2 million ordinary shares under the company's existing share option scheme and has been awarded warrants over 1.5 million ordinary shares at 100p a share, 1.5 million ordinary shares at 150p a share, 1.5 million ordinary shares at 200p a share and 1.5 million ordinary shares at 250p a share.
The companyβs shares have taken a bit of a kicking in 2021, and 2022 appears to be much of the same. A far cry from the heady highs of 100p on relisting in a new guise, in a new exciting strategy. It never helps when contracts arrive with no numbers attached to them. Moreover, there has been a persistent seller, which is never good with an illiquid share tightly held by a group or large investors.
And the impressive CV in a very high-tech world of software and telecoms sectors with a strong track record of driving growth and business transformation. From 2016 until September 2021, Colm was the Chief Commercial Officer of BT One Phone, the mobile Cloud SaaS joint venture. He led the commercial turnaround, which resulted in a high multiple EBITDA minority interest sale valued at Β£320 million. Colm spent more than ten years at BT, having been part of its core BT Business due diligence team for BT Group's acquisition of EE Mobile and then led the commercial Integration of EE into BT Business.
Before BT Group, Colm spent seven years at Vodafone Group, initially as Enterprise Director and later as Global Director M2M (Mobile to Mobile) Smart Services. He established the Internet of Things as a global business model. Before then, Colm held senior commercial roles at Oracle Corporation.