AIT Group, a UK-supplier of customer relationship management software burdened by a chequered recent past, is calling an extraordinary general meeting to approve a name change in an effort to develop more positive branding.
The group has sent a letter to shareholders outlining proposals to change its name to Portrait, in line with its flagship software product. AIT claims that the Portrait name is more widely-known in the industry and that the name change will allow it to more closely align the Portrait brand values with the corporate identity.
In a statement, the company says: "Aligning the company and product name more closely will enable the company to promote international awareness of the Portrait brand more rapidly as the board starts to implement the next stage of its business development strategy."
The group makes no reference to the ongoing trial of three former directors who have been charged by the FSA with deliberately misleading shareholders about AIT's prospects and sales during a turbulent period in 2002 which ultimately saw the firm's shares suspended, pending emergency refinancing.