REG - Distil PLC - Directorate Changes

DistilAnnouncement

23/12/2024 07:00

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RNS Number : 0097R  Distil PLC  23 December 2024

Distil PLC

 

Directorate changes

 

Distil plc (AIM: DIS), owner of premium drinks brands including RedLeg Spiced
Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka, announces that Roland
Grain will step down from his position as non-executive director on the Board
of Distil plc, effective from 31 December 2024.

 

The decision comes as part of Mr Grain's broader decision to step down from
all his board positions, other than those companies where he has majority
control. Distil is the final board position he is resigning from as part of
this move. Mr Grain's decision has been made to allow time for him to provide
closer support in particular to Ardgowan Distillery, as it moves from the
construction phase towards malt whisky production in Spring 2025.

 

Roland Grain has a majority shareholding in the Ardgowan Distillery, where
Distil remains the second largest investor with a £3m investment in the form
of a Convertible Loan Note, which is convertible into shares representing 9.1%
of Ardgowan's fully diluted share capital, and has an observer position on the
Ardgowan board.

 

Alongside its shareholding and access to whisky production, Distil's
investment also includes the development of the Blackwoods distillery and
brand home at the Ardgowan Distillery. Gin production has already moved to the
site, with the brand home experience scheduled to open to the public in Spring
2025.

 

To further strengthen the board, Adebola Adebo ACCA, Finance Director, and
Sarah Kingsbury, Marketing Director, will join the Distil PLC board effective
from 1 January 2025. Both are already directors of the subsidiary Distil
Company Limited, handling all trading.

 

Sarah has over 15 years' experience in the drinks industry ranging from the
hospitality sector, drinks journalism and PR. She worked across both global
and challenger brands on a range of PR, marketing campaigns and events before
joining the Distil team as Marketing Manager in March 2020. Sarah was promoted
to Marketing Director in October 2022.

 

Adebola has a BA in Applied accounting, Accounting and Finance and an ACCA, as
well as a MA in Management. Adebola has worked within finance and operations
across various industries including beverages D2C, major retail logistics and
fashion retail. Adebola joined Distil from her position of Group Finance
Controller at The Whisky Exchange (part of the Pernod Ricard Group) in
December 2022.

 

Commenting on the changes, Don Goulding, Executive Chairman, said:

 

"I thank Roland for his significant contribution to the business as both an
investor and as a non-exec over the past four years. Roland maintains his
investment in Distil, and so remains as a significant shareholder - we thank
him for his continued support as an investor.

 

We naturally welcome his move to provide greater support to Ardgowan as they
transition from planning and building to significant volumes of malt whisky
production. This exciting next phase will transform the Ardgowan project, not
only benefiting our investment in the Ardgowan business itself but also
providing huge benefits and growth opportunities to our Blackwoods brand. We
look forward to bringing this to life for shareholders in the near future.

 

I am delighted to welcome both Adebola and Sarah to the Distil plc board
alongside myself and non-executive director, Shaun Claydon, from 1 January.
They have both demonstrated strong operational experience and industry
knowledge, and I look forward to their greater involvement in developing
Distil's strategy at main board level."

 

Additional information:

 

The following information is disclosed pursuant to Schedule Two paragraph (g)
of the AIM Rules for Companies:

 

Adebola Tolulope Adebo, aged 41, holds or has previously held the following
directorships:

 

 Current directorships and/or partnerships  Former directorships and/or partnerships (within the last five years):
 Distil Company Limited                     None
 A Green Financial Services Ltd

 

Adebola Adebo holds no ordinary shares in the Company.

 

Sarah Claire Kingsbury, aged 33, holds or has previously held the following
directorships:

 

 Current directorships and/or partnerships  Former directorships and/or partnerships (within the last five years):
 Distil Company Limited                     None
 Treganna Residents Association Limited

 

Sarah Kingsbury holds no ordinary shares in the Company.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 Distil PLC
 Don Goulding, Executive Chairman  Tel: +44 203 283 4006

 SPARK Advisory Partners Limited

 (NOMAD)
 Neil Baldwin                      Tel: +44 203 368 3550

 Mark Brady
 Allenby Capital Ltd

 (Broker)
 James Reeve/Piers Shimwell        Tel: +44 (0)20 3328 5656

 Jos Pinnington/Guy McDougall

 

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