REG - Franchise Brands PLC - Appointment of Interim CFO and grant of options

Franchise BrandsAnnouncement

03/10/2022 07:00

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RNS Number : 4522B  Franchise Brands PLC  03 October 2022

3 October 2022

 

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group")

 

Appointment to the Board of Interim Chief Financial Officer and grant of
options

 

Franchise Brands plc (AIM: FRAN), an international multi-brand franchise
business, is pleased to announce that Andrew Mallows has been appointed a
director of the Company as Interim Chief Financial Officer.

 

Andrew originally joined Franchise Brands in 2016 as Finance Director, and
since 2017 has been the Group's Commercial Director. He has significant
experience in franchising and business development and was Finance Director of
Domino's Pizza UK from 2001 to 2004 before being appointed Business
Development Director. On 26 July 2022 Andrew was appointed Interim Chief
Financial Officer of Franchise Brands.

 

The Company also announces that its Remuneration Committee has approved the
grant to Andrew Mallows of 120,000 unapproved options over ordinary shares in
the Company.  These options have an exercise price of 151.5p per share
(being the closing mid-market price of an ordinary share on 30 September
2022) and are exercisable from 30 September 2025 to 29 September 2032 subject
to certain performance criteria being met as follows:

 

1)    as to 20 per cent. after reported fully diluted adjusted earnings per
share ("EPS") achieves compound annual growth of 8 per cent. over each of the
next three financial years;

2)    as to 100 per cent. after reported fully diluted adjusted EPS
achieves compound annual growth of 15 per cent. over each of the next three
financial years; and

3)    between 20 per cent. to 100 per cent. on a sliding scale basis on EPS
growth between the targets in 1) and 2) above.

 

Further details are provided at the end of this announcement in accordance
with the requirements of the UK Market Abuse Regulation.

 

Stephen Hemsley, Executive Chairman, commented: "I am delighted Andrew is
joining the Board as Interim Chief Financial Officer. He has been a key part
of the Franchise Brands team for a number of years, driving the commercial,
operational and strategic focus of the Group. His extensive knowledge of the
business and strong relationships with the team will be invaluable at this
time".

 

Andrew Mallows, Interim Chief Financial Officer, commented: "I am pleased to
be joining the Franchise Brands Board.  I look forward to working with the
team to continue to capitalise on the opportunities the recent
transformational acquisition of Filta presents and drive growth across our
business in the UK, North America and Europe".

 

The following information is disclosed in respect of Andrew Mallows pursuant
to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Andrew John Mallows is aged 52 and is currently a director of the following
Group companies:

 

Azura Business Solutions Limited

Azura Design Studio Limited

Azura Group Ltd

Barking Mad Limited

Chipsaway International Ltd

Dentsaway Limited

Edwin Investments Limited

Environmental Biotech Limited

FB Holdings Limited

Filta Group Holdings Limited

Filta Refrigeration Limited

Filtafry Limited

Grease Management Limited

Kemac Services Limited

M & M Asset Maintenance Limited

Metro Plumb Ltd

Metro Rod Limited

MRB Drainage Limited

MRE Drainage Limited

Oven Clean (Ontario) Limited

Oven Clean Domestic Limited

The Filta Group Limited

The Handyman Van Limited

Watbio Holdings Limited

Watbio Limited

Watling Hope (Installations) Limited

Willow Drainage Limited

Willow Pumps Limited

WPL Group Holdings Limited

 

Andrew Mallows owns 115,957 ordinary shares in the Company (representing
0.089% of the Company's issued ordinary shares) and holds options over 500,682
new ordinary shares of Franchise Brands (including those granted on 30
September 2022).

 

 

Enquiries:

 

 Franchise Brands plc                                           + 44 (0) 1625 813231
 Stephen Hemsley, Executive Chairman
 Andrew Mallows, Interim Chief Financial Officer
 Julia Choudhury, Corporate Development Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   +44 (0) 20 3328 5656
 Jeremy Porter / George Payne (Corporate Finance)

 Amrit Nahal (Sales & Corporate Broking)

 Dowgate Capital Limited (Joint Broker)                         +44 (0) 20 3903 7715
 James Serjeant / Russell Cook / Nicholas Chambers

 MHP Communications (Financial PR)                              +44 (0) 20 3128 8100
 Katie Hunt/Catherine Chapman                                   +44 (0) 7884 494112
                                                                franchisebrands@mhpc.com

 

 

About Franchise Brands plc

 

Franchise Brands is focused on building market-leading businesses primarily
via a franchise model. The Group currently has a combined network of 600
franchisees across six principal franchise brands in the UK, North America and
Europe. Our focus is on established brands which can benefit from our shared
support services, specialist sector expertise, management experience and group
resources.

 

Our B2B brands are Metro Rod, Metro Plumb, Filta, Willow Pumps and Azura, and
our principle B2C brands are ChipsAway, Ovenclean and Barking Mad. Each of
our brands are leaders in their respective markets. The combined trading
history of all the Group's brands is over 190 years. Franchise Brands employs
over 430 people from 5 principal offices in the UK as well as Orlando, Florida
and the Netherlands.

 

For further information, visit www.franchisebrands.co.uk

 

 

 

 Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 

 1      Details of the person discharging managerial responsibilities / person closely
        associated
 a)     Name                                                         Andrew Mallows
 2      Reason for the notification
 a)     Position/status                                              Interim Chief Financial Officer
 b)     Initial notification /Amendment                              Initial notification

 3      Details of the issuer, emission allowance market participant, auction

      platform, auctioneer or auction monitor

 a)     Name                                                         Franchise Brands plc
 b)     LEI                                                          213800CFRX6CJ8LCKN37
 4      Details of the transaction(s): section to be repeated for (i) each type of

      instrument; (ii) each type of transaction; (iii) each date; and (iv) each
        place where transactions have been conducted
 a)     Description of the financial instrument, type of instrument  Ordinary shares of 0.5p each in Franchise Brands plc

        Identification code

                                                                     Identification code (ISIN) for Franchise Brands plc ordinary
                                                                     shares:  GB00BD6P7Y24
 b)     Nature of the transaction                                    Grant of options over ordinary shares of 0.5p each
   c)   Price(s) and volume(s)                                        Price(s)                           Volume(s)
                                                                     Exercise price of 151.5p per share  120,000

 
 d)     Aggregated information                                       As above

        - Aggregated volume

        - Price
 e)     Date of the transaction                                      30 September 2022
 f)     Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information

- Aggregated volume

- Price

As above

 

e)

Date of the transaction

30 September 2022

f)

Place of the transaction

Outside a trading venue

 

 

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