REG - DG Innovate PLC - Board Changes

DG InnovateAnnouncement

01/07/2022 11:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220701:nRSA0292Ra&default-theme=true

RNS Number : 0292R  DG Innovate PLC  01 July 2022

1 July 2022

 

DG Innovate plc
("DG Innovate" or the "Company")

Board Changes

 

DG Innovate (LSE: DGI), the advanced research and development company
pioneering sustainable and environmentally considerate improvements to
electric mobility and storage, announces certain changes to the Company's
Board of Directors.

 

As announced on 16 May 2022, Peter Tierney has joined the Company today as its
new Chief Executive Officer.

 

Peter is an experienced Chief Executive with over 30 years' experience in
operating and developing growth orientated service and manufacturing
businesses.  He was until recently Chairman and Chief Executive officer of
Lewmar Marine Limited ("Lewmar Marine"), a private equity backed international
marine manufacturing and distribution business. Peter was initially appointed
to lead the turnaround of Lewmar Marine in 2008, quickly returning the
business to profit and implementing a successful growth strategy that led to
sales doubling, before the business was sold to a US trade buyer in 2019,
generating a significant return for its private equity backers.  Prior to
joining Lewmar Marine, Peter was Chief Executive Officer of Vector Aerospace,
based in Canada, an aerospace maintenance and operating business, between 2003
and 2008.  He has also held senior roles at a number of other engineering
businesses in the UK and North America and has a degree in mechanical
engineering, together with a master's degree in business.

 

Upon Peter Tierney's appointment, it was previously proposed that Christopher
Theis, the Company's former Chief Executive Officer, would assume the role of
Chairman.  However, Mr Theis has decided not to take up this position but
remains a director of the Company. The Board recognises Mr Theis' contribution
as Chief Executive Officer during his tenure which saw the acquisition of
Deregallera Holdings Limited (formerly named DG Innovate Limited) and the
re-admission of the Company's shares to trading on the London Stock Exchange.

 

Nicholas Tulloch, Non-Executive Chairman, will no longer be leaving the
Company, as proposed in the announcement on 16 May 2022, and will remain as
the Company's Non-Executive Chairman.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

For further information please contact:

 DG Innovate plc                            C/O IFC
 Peter Tierney

 Jack Allardyce

 IFC Advisory (Financial PR & IR)           020 3934 6630
 Tim Metcalfe

 Zach Cohen

 Grant Thornton UK LLP (Financial Adviser)  020 7383 5100

 Samantha Harrison

 Jamie Barklem

 Daphne Zhang

 Ciara Donnelly

 ETX Capital (Broker)                       020 7392 1400
 Tom Curran

 Thomas Smith

 

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  BOAUPUGPMUPPGUG