REG - Carr's Group PLC - Board Changes

Carr'sAnnouncement

21/02/2023 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:20230221:nRSU5025Qa&default-theme=true

RNS Number : 5025Q  Carr's Group PLC  21 February 2023

21 February 2023

Carr's Group plc

("Carr's", the "Company", or the "Group")

 Board Changes

 

Carr's (CARR.L), the Speciality Agriculture and Engineering group, announces
that the following previously announced Board changes are applicable with
immediate effect:

 

1.         Tim Jones joins the Board as Non-Executive Chair;

2.         Peter Page becomes Chief Executive Officer and relinquishes
the role of Executive Chair;

3.         David White joins the Board as Chief Financial Officer; and

4.         Neil Austin stands down as Chief Financial Officer and from
the Board.

 

The Group also announces that Martin Rowland will join the Board as a
Non-Executive Director, effective 6 March 2023.

 

Mr Rowland is appointed as a representative of Harwood Capital Management
Limited ("Harwood") pursuant to a relationship agreement between the Company
and Harwood. The primary purpose of the relationship agreement is to ensure
that the Company is capable of carrying on its business independently at all
times. In accordance with the terms of the relationship agreement, Mr Rowland
shall be entitled to remain on the Board of Directors of the Company provided
that Harwood retains an aggregate interest of at least 5% of the Company's
issued ordinary share capital. As at the date of this announcement, Harwood
held an aggregate interest of 6.04% of the Company's issued ordinary share
capital.

 

Mr Rowland is currently Non-Executive Chairman of AIM-listed Smoove plc, a
provider of technology solutions for the housing sector.  He has spent the
last 14 years in a variety of investment roles, working for institutional
private equity houses and investing alongside family offices. Prior to this
Martin held operational and strategic roles in mid-sized and large corporates.
He has been a director of companies in an executive and non-executive
capacity, helping businesses to scale organically and through acquisition.

 

In accordance with Listing Rule 9.6.13, on 12 November 2008, DLG Equity
Holdings Limited, of which Martin Rowland had previously been a Director,
together with its subsidiaries DLG Finance Limited, DLG Bidco Limited, DLG
Holdings Limited, DLG Acquisitions Limited, Data Locator Group Limited, Epic
Care Limited and Call Connector Limited, entered into administration. The
companies subsequently entered into creditors voluntary liquidation and were
liquidated on 21 May 2012 with a shortfall to creditors of £35.3 million.

 

There are no other matters in respect of Mr Rowland's appointment requiring
disclosure under UK Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.

 

Enquiries:

 Carr's Group plc                 +44 (0) 1228 554 600
 Peter Page
 Matthew Ratcliffe

 FTI Consulting                   +44 (0) 20 3727 1340
 Richard Mountain/Ariadna Peretz

 

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  BOAEAEAEASNDEAA