REG - De La Rue PLC - Resignation of Chairman and accelerated search

De La RueAnnouncement

14/04/2023 16:30

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RNS Number : 3181W  De La Rue PLC  14 April 2023

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated by the Market Abuse Regulation
(EU) No.596/2014, as it forms part of UK law by virtue of the European
Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this
announcement, this inside information is now considered to be in the public
domain

 

 

14 April 2023

De La Rue plc

Resignation of Chairman and accelerated search for replacement

De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") today
announces that Kevin Loosemore has resigned as a Director of the Company to
draw a line under recent speculation surrounding the leadership of the
Company.  He will leave office effective 1 May 2023.

 

The Board has launched an accelerated recruitment process, with an external
search company, with the aim of appointing a new non-Executive Chairman on 2
May 2023, or as soon as practicable thereafter.

 

Pepyn Dinandt, who has been nominated by Crystal Amber Fund Limited and who
has indicated his willingness to serve, will be a candidate in this process.

 

Shareholders will have the opportunity to vote on the re-election of any
appointee to the Board at the AGM in July 2023, in the usual way.

 

 

The person responsible for the release of this announcement on behalf of De
La Rue for the purposes of MAR is Jon Messent (Company Secretary).

 

Enquiries

 De La Rue plc       +44 (0) 7990 337707
 Clive Vacher        Chief Executive Officer
 Rob Harding         Chief Financial Officer
 Louise Rich         Head of Investor Relations

 Brunswick           +44 (0)207 404 5959
 Stuart Donnelly
 Ed Brown

About De La Rue

De La Rue plc's purpose is to secure trust between people, businesses and
governments. As a trusted partner of governments, central banks and commercial
organisations seeking to secure their global supply chains and cash
cycles, De La Rue provides highly secure physical and digital solutions that
underpin the integrity of economies and trade.

De La Rue's Currency division provides market-leading end-to-end currency
solutions, from finished banknotes to secure polymer substrate and banknote
security features to over half the central banks and issuing authorities
around the world.

Our Authentication division protects revenues and reputations through the
provision of physical and digital solutions to governments and commercial
organisations. We also manufacture ID security components.

At 25 March 2023, De La Rue had over 1,800 employees who work with
organisations in more than 140 countries, leveraging the group's manufacturing
facilities in the UK, US, Malta, Sri Lanka and Kenya.

De La Rue's shares are traded on the London Stock Exchange (LSE:DLAR). De La
Rue plc's LEI code is 213800DH741LZWIJXP78.

 

For further information please visit www.delarue.com
(https://checkpoint.url-protection.com/v1/url?o=http://www.delarue.com/&g=ODlkYzkxYjY4MTcyYzBhYw==&h=Y2UzYjE4MmQ0ZGYzOTlmZmU3OGY2ZjZiMTlmZGE1OGNkMDQ2ZjI1ODAzNTQyYzc2ZjhhYjAzMjU5NjA5MTM0Nw==&p=Y3AxZTpkZWxhcnVlMTYzMDUwMzk1MDQxOTpjOm86ZjI2MDZhMzFlYTQ5YTM3NDMyYjk2NWU2MjNiNzk0YTA6djE6cDpU)
.

 

Cautionary note regarding forward-looking statements

This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "anticipates", "expects", "intends", "plans", "may",
"will", "could", "shall", "risk", "aims", "predicts", "continues", "assumes",
"positioned" or "should" or, in each case, their negative or other variations
or comparable terminology. These forward-looking statements include all
matters that are not historical facts. They appear in a number of places
throughout this announcement and include statements regarding the intentions,
beliefs or current expectations of the directors, De La Rue or the Group
concerning, amongst other things, the results of operations, financial
condition, liquidity, prospects, growth and strategies of De La Rue and the
industry in which it operates.

By their nature, forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors because they relate to events and
depend on circumstances that will occur in the future whether or not outside
the control of the Company. Past performance cannot be relied upon as a guide
to future performance and should not be taken as a representation or assurance
that trends or activities underlying past performance will continue in the
future. Accordingly, investors or potential investors should not place undue
reliance on these forward-looking statements. The Group's actual results of
operations, financial condition, liquidity and the development of the industry
in which it operates may differ materially from the impression created by the
forward-looking statements contained in this announcement. In addition, even
if the results of operations, financial condition and liquidity of the Group
and the development of the industry in which it operates, are consistent with
the forward-looking statements contained in this announcement, those results
or developments may not be indicative of results or developments in subsequent
periods.

Other than in accordance with its legal or regulatory obligations, De La
Rue does not undertake any obligation to update these forward-looking
statements, which speak only as at the date of this announcement, and will not
publicly release any revisions that may be made to these forward-looking
statements, which may result from events or circumstances arising after the
date of this announcement.

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