REG - Anexo Group PLC - Update on Mercedes Action & Directorate Change

AnexoAnnouncement

14/04/2023 16:45

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RNS Number : 3144W  Anexo Group PLC  14 April 2023

     14 April 2023

 

Anexo Group plc

('Anexo' or the 'Group')

 

Update on Mercedes Benz Class Action

Directorate Change

 

 

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal
services provider, is pleased to announce that proceedings have been issued
against Mercedes and its affiliates in the High Court, alongside more than
12,000 other claimants. The claim will be formally served on the Defendants in
early summer.

 

On 9 February 2023, a High Court Judge approved a Group Litigation Order which
ensures that all the allegations being made against Mercedes by over 300,000
Claimants will be addressed in one set of proceedings. As previously
announced, the Order was granted on 8 March 2023. The Judge at the hearing set
out a timetable for the progress of the claim. The Order setting out these
measures will now need to be confirmed by the President of the High Court
King's Bench Division, and we anticipate receiving this imminently. A steering
committee has now been formed to represent the best interests of all Claimants
and Bond Turner is a member of the Claimant Solicitors' Committee.

 

We remain confident that these cases have the potential to be of significant
value to both the Claimants and the Group.

 

Directorate Change

 

The Board announces that Mark Fryer has resigned from the Board and will cease
to be a Director of Anexo plc today. We thank Mark for his service and wish
him well in all his endeavours.

 

The Board is delighted to announce that the position of Interim Chief
Financial Officer will be filled by Gary Carrington. Gary is a Chartered
Accountant who spent twenty-two years at major accounting firms, ending as
Corporate Tax Partner at RSM. He subsequently spent five years at Fletchers
Solicitors Limited, primarily as Chief Financial Officer. Gary joined the
Group in July 2020 as Head of Operations.

 

The Board intends to appoint Gary as a Director at the next Board meeting, to
be held on 18 April 2023, upon completion of the necessary AIM Rule
requirements.

 

Alan Sellers, Executive Chairman of Anexo Group, commented: "We are delighted
to announce a more senior role for Gary. He has a wealth of experience in the
sector and after nearly three years with the Group fully warrants this step up
to Board level."

 

- Ends -

 

 

For further enquiries:

 Anexo Group plc                                                     +44 (0) 151 227 3008

                                                                     www.anexo-group.com (http://www.anexo-group.com)
 Alan Sellers, Executive Chairman

 Nick Dashwood Brown, Head of Investor Relations

 WH Ireland Limited

 (Nominated Adviser & Joint Broker)
 Chris Hardie / Hugh Morgan/ Darshan Patel / Enzo Aliaj (Corporate)    +44 (0) 20 7220 1666

 Fraser Marshall / Harry Ansell (Broking)                            www.whirelandplc.com/capital-markets
                                                                     (https://url.avanan.click/v2/___https:/eu-west
                                                                     -1.protection.sophos.com?d=whirelandplc.com&u=aHR0cDovL3d3dy53aGlyZWxhbmRwbGMuY29tL2NhcGl0YWwtbWFya2V0cw==&i=NWNkOTc2NmM5OWJhMjAxMDhmN2IyYzQ1&t=SXVCMnArbXpCUWFUR3hiN0dhVjR5Q3d4VDNrTGVJc1JZVXNxWVRpbE8zcz0=&h=0482e68813aa4f569a47aab5cdad04d1___.YXAxZTp3aGlyZWxhbmRwbGMyOmE6bzpjYjY3ZDZhNTE1ZmUwZTA0Zjg3MDFkYTJhYTAxZGMyNDo2OmU0NjA6M2ViNTgwYzkxMmM5NTFlMzUyMzM1ODhlNzcyOGFhMjZhNjI0OTkzOGRkOTkzZjQ5NTUzNjFjYzE5N2UwYTBkNzpoOlQ)

 Zeus Capital plc

 (Joint Broker)                                                      +44 (0) 20 3829 5000

 Louisa Waddell (Investment Banking)                                 w (http://www.arden-partners.co.uk) ww.zeuscapital.co.uk

                                                                   (http://www.arden-partners.co.uk)
 Simon Johnson (Corporate Broking)

 

Notes to Editors:

 

Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.

 

Through its dedicated Credit Hire sales team and network of over 1,100 active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.

 

The Group was admitted to trading on AIM in June 2018 with the ticker ANX.

 

For additional information please visit: www.anexo-group.com
(http://www.anexo-group.com) . To subscribe to our investor alert service and
receive all press releases, financial results and other key shareholder
messages as soon as they become available, please visit:
https://www.anexo-group.com/content/investors/alert.asp
(https://www.anexo-group.com/content/investors/alert.asp) .

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