REG - Altitude Group PLC - Historic Related Party Transactions

AltitudeAnnouncement

11/12/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231211:nRSK2583Wa&default-theme=true

RNS Number : 2583W  Altitude Group PLC  11 December 2023

11 December 2023

Altitude Group plc

("Altitude" or the "Group")

 

Historic Related Party Transactions

Altitude Group plc (AIM: ALT), the leading end-to-end solutions provider for
branded merchandise, has historically included within its Annual Reports for
the financial years ended 31 March 2021, 31 March 2022 and 31 March 2023,
appropriate accounting disclosures relating to related party transactions.

In the case of related party transactions entered into between Altitude and
Product Source Group ("PSG") during those periods, and in the current
financial year to 8 December 2023 ("YTD24") (the "Historical PSG
Transactions") PSG is deemed to be a related party for the purposes of Rule 13
of the AIM Rules for Companies ("AIM Rule 13") as it is majority owned by the
wife of Martin Varley, NED and substantial shareholder of Altitude. Martin's
wife is also a director of PSG.  As such, the Historical PSG Transactions are
required to be approved pursuant to AIM Rule 13.

 

All of the directors except for Martin Varley are deemed to be independent.
Having consulted with the Company's nominated adviser, David Smith, Nikki
Stella, Graham Feltham, Deborah Wilkinson and Peter Hallett consider that the
terms of the Historical PSG Transactions, are fair and reasonable insofar as
shareholders are concerned.

Further details are included below:

 

 Party  Services                                      Total Value of Services  Total Value of Services  Total Value of Services  Total Value of Services

                                                      FY21                     FY22                     FY23                     YTD24
 PSG    Sale of promotional products services to PSG  £104,000                 £82,466                  £40,435                  £18,523

 

 

Enquiries:

 

 Altitude Group plc                                           Via Zeus

 Nichole Stella, Chief Executive Officer

 Graham Feltham, Chief Financial Officer
 Zeus (Nominated Adviser & Broker)                            Tel: 0203 829 5000

 Dan Bate / David Foreman / James Edis (Investment Banking)

 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  MSCFFIEDSEDSELE