MONDAS (now CORERO) PLC   TIM SIMON CHAIRMAN & CEO 1991 - 2004

Tim Simon founded Mondas PLC in 1991 and was Chairman and Chief Executive Officer until he left the company in 2004

1991 Mondas IT - Company Founded and Established as a Sole Trader

1994 Mondas IT Ltd - Sole Trader status changed to a Limited Company

1996 Mondas PLC Successful Flotation on AIM

Tim invested in excess of £2 million in the development of new technology software specifically designed for business process management and workflow aimed at the commercial and financial sectors.

• The development was ongoing and, in 1994, having 15 staff, Mondas became a limited company.
• When it was floated on AIM in 1996, the company raised about £1 million net from a number of institutional investors.
• The company grew at a compound rate combined with two acquisitions. The first, in 1998, was a software house specialising in Internet technology. The second, in 2000, developed and marketed accounting and management information systems.
• The main software application was a Corporate Actions Processing System, specifically for the securities market became a market leader in 2003.
• In total, revenue grew from minimal in 1996 to nearly £5 million in 2004. At this stage the company employed 66 people and had a customer base in excess of 400. Those included Credit Suisse First Boston, Credit Suisse Asset Management, HSBC Bank, Mann Group, Close Brothers, Brewin Dolphin, The Royal College of Music and Blue Arrow.
• An unexpected boardroom coup caused Tim to leave in August 2004. Unfortunately the company, and its share price, has gone downhill ever since, being, at the end of 2008, worth less than one tenth of the value compared with its value at his date of departure!  [Update: At the end of 2009 its value was one twentieth of the value on the same comparison] The "gang of four" directors who engineered the coup have all subsequently been removed from the company. Jarlath McGee, Bernard Fairman, Colin Peters and Ian Selby destroyed about £6m of Mondas shareholders funds - read the story here.
  
• In 2007 the company changed its name to corero plc.