IN Brief:
- Andrew Roughan becomes CEO on 30 March 2026, after a board search.
- The company is issuing warrants equal to 6% of share capital.
- Defence Holdings also updated markets on proceeds from its ATM facility.
Defence Holdings PLC (LSE: ALRT) has appointed Andrew Roughan as Chief Executive Officer, effective 30 March 2026, completing a search process the board said it began in December 2025. The company said contractual arrangements and customary regulatory and background checks have been completed, with Roughan formally assuming the role at the end of Q1 2026.
Roughan joins from Plexal, where he has served as Chief Executive Officer since 2018. Defence Holdings positioned his experience as closely aligned with government-facing technology delivery, particularly in regulated and security-sensitive environments, and framed the appointment as a leadership step as the organisation moves into a phase focused on execution and scaling.
Andy McCartney, Chief Technology Officer of Defence Holdings, said: “The Board is delighted to appoint Andrew as Chief Executive Officer. He brings a rare combination of defence credibility, operational leadership and proven commercial execution across government-aligned technology environments. Andrew’s experience leading complex organisations through delivery and scale will be instrumental as Defence Holdings enters its next phase of execution and growth, and we look forward to working closely with him.”
Alongside the appointment, Defence Holdings disclosed the structure of warrants associated with the role. The company said it will grant warrants over 142,907,576 ordinary shares, representing 6% of issued share capital at the time terms were agreed, allocated across three tranches with exercise prices of 1.38 pence (3%), 3.45 pence (1.5%), and 6.9 pence (1.5%).
The company also provided an update on its at-the-market (ATM) facility, stating that Fortified Securities raised additional gross proceeds of £92,800 for the period ending 16 January 2026, with settlement completed. Defence Holdings said total gross proceeds raised under the ATM facility now stand at £713,117.49, taking into account prior announcements.
For a business that has presented itself as a software-led defence platform, the disclosures underline the reality that delivery capacity, leadership, and capital structure are tightly coupled. Investors will read the CEO appointment and warrant package as a signal of where the board expects value creation to come from — and how quickly it believes operational execution needs to harden, given the company’s stated focus on programme delivery and scale.
