REG - DP Poland PLC - Board Changes & Related Party Transaction

DP PolandAnnouncement

28/07/2023 07:00

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RNS Number : 4808H  DP Poland PLC  28 July 2023

DP Poland PLC

("DP Poland", the "Company" or the "Group")

 

Board Changes & Related Party Transaction

 

DP Poland, the operator of Domino's pizza stores and restaurants across Poland
and Croatia, announces that as a result of Andrew Rennie's appointment as an
Executive Director of Domino's Pizza Group Plc., he will resign from the Board
of DP Poland as a Non-executive Director with effect from 1 October 2023.

 

Andrew is joining Domino's Pizza Group Plc., who operate and franchise
Domino's stores in the UK and the Republic of Ireland, as Chief Executive
Officer with effect from 1 August 2023. Given these new executive
responsibilities Andrew will be standing down to allow complete focus on his
new role. As a result of his resignation the Board have agreed that Andrew
will no longer subscribe for a further 3,191,489 Second Subscription Shares at
8 pence, as contemplated following the acquisition of All About Pizza d.o.o on
29 July 2022 (the "Waiver"). Andrew will remain a committed and supportive
shareholder in respect of his current 2% shareholding in the Company.

 

Andrew Rennie's share options will cease vesting when he leaves the Board at
the beginning of October 2023, with full details provided in the 2023 Annual
Report.

 

The Board will commence a process to identify a replacement independent
Non-Executive Director.

 

Statement from Andrew Rennie, Non-Executive Director of DP Poland:

"It's been fantastic to be part of the DP Poland team. Poland is one of the
fastest growing Domino's markets globally in 2023. I have worked with Nils
Gornall in Domino's businesses for more than 20 years and I believe that under
his leadership the company is on the right track. David Wild also has
extensive experience of the Domino's brand across different markets and I am
confident in their ability to deliver value for customers and shareholders. I
look forward as a committed shareholder to seeing our strategy executed to
capitalise on the huge opportunities in front of the business."

 

Statement from David Wild, Chairman of DP Poland:

"On behalf of the Board, I'd like to thank Andrew for his significant
contribution to the Company over the past year. His long history with the
Domino's brand in different geographies has been instrumental in helping set
DP Poland on the positive trajectory seen today. We wish him all the best in
his new executive role at Domino's Pizza Group Plc and his continued
involvement as a shareholder in DP Poland."

 

Related Party Transaction

 

Andrew Rennie is a Non-Executive Director of DP Poland and accordingly the
Waiver is classified as a related party transaction pursuant to the AIM Rules
for Companies. The directors of the Company, excluding Andrew Rennie, having
consulted with Singer Capital Markets, the Company's Nominated Adviser,
consider that the terms of the Waiver are fair and reasonable insofar as the
Company's shareholders are concerned.

 

Enquiries:

DP Poland plc

Nils Gornall, CEO

Tel: +44 (0) 20 3393 6954

Email: ir@dppoland.com

 

Singer Capital Markets (Nominated Adviser and Broker)

Shaun Dobson / Jen Boorer

Tel: +44 (0) 20 7496 3000

 

Notes for editors

About DP Poland plc

DP Poland has the exclusive right to develop, operate and sub-franchise
Domino's Pizza stores in Poland and Croatia. The group operates 117 stores and
restaurants throughout cities and towns in Poland and Croatia.

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