REG - Altitude Group PLC - Board Changes and Trading Update

AltitudeAnnouncement

24/11/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211124:nRSX3432Ta&default-theme=true

RNS Number : 3432T  Altitude Group PLC  24 November 2021

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Altitude Group plc

("Altitude", the "Company" or the "Group")

 

Board Changes, Appointment of new Non-Executive Chairman and Trading Update

 

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for
personalised products, announces that Non-Executive Chairman, Keith Edelman,
has notified the board of his decision to retire from his role as Chairman,
with effect from 26 November 2021. The Board wish to thank Keith for his
valuable contribution to the Group during his term, especially throughout the
global COVID-19 pandemic, and wish him well in his future endeavours.

 

The board is further pleased to announce the appointment of David Smith as
Non-Executive Director with immediate effect, who will step up to Chairman,
with effect from 26 November 2021. David brings extensive experience in the
entrepreneurial and technology driven insurance markets. He currently serves
as the Chairman of Lockton Companies, LLP and Non-Executive Director of AIG UK
Ltd and Bupa Insurance Company. In his executive career, David, held the role
of CEO of Zurich Insurance Plc and Chairman of Polaris UK, the general
insurance industry-owned standards and digital trading/technology body.

 

Nichole Stella, Chief Executive Officer of Altitude Plc commented:

 

"Firstly, I would like to thank Keith for his valuable support throughout the
pandemic and wish him well for the future. We are delighted to welcome David
Smith to the board. His expertise in industries that have evolved through
technology advancements and industry shifting buying behaviours will be
invaluable. I look forward to working with David in his role of Non-Executive
Chairman as we continue to grow the business to benefit all stakeholders."

 

Trading Update

 

The Group is pleased to report that it has made good progress in the six
months to 30 September 2021 ("HY1 2021") with US recovery across the
promotional product industry having accelerated recovery for the Group. The
Company is trading positively and in line with management's expectations.

 

The Group will announce its HY1 21 interim results on 30 November 2021.

 

The following information is disclosed pursuant to Schedule 2(g) of the AIM
Rules for Companies.

 

David William Smith (aged 62) currently holds, and has held in the last five
years, the following directorships or partnerships.

 

 Current Directorships & Partnerships      Directorships & Partnerships within last 5 years
 AIG UK Limited                            AA Insurance Services Limited
 Bupa Insurance Limited                    The Chartered Insurance Institute
 Bupa Insurance Services Limited

 

David and his connected persons currently hold 59,929 ordinary shares in the
Company, representing 0.08 per cent. of the Company's current issued share
capital.

 

 

For enquiries, please contact:

 Altitude Group plc                                          Via Zeus Capital

 Nichole Stella, Chief Executive Officer

 Graham Feltham, Chief Financial Officer

 Zeus Capital Limited (Nominated Adviser & Broker)           Tel: 0203 829 5000

 Dan Bate / David Foreman / James Edis (Corporate Finance)

 Dominic King (Corporate Broking)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOABJBTTMTMTTFB