REG - Slingsby(H.C.)Plc - Retirement of Executive Director

H C SlingsbyAnnouncement

12/03/2024 07:15

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RNS Number : 4211G  Slingsby(H.C.)Plc  12 March 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT CONSTITUTES INSIDE
INFORMATION AS DEFINED BY THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014,
WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("UK MAR").  UPON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED
TO BE IN THE PUBLIC DOMAIN.

 

 

12 March 2024

H C SLINGSBY PLC

("Slingsby", the "Company" or the "Group")

 

Retirement of Executive Director

Related Party Transaction

 

HC Slingsby PLC, one of the market leaders in the distribution of industrial
and commercial equipment, announces that the Company's Operations Director,
Dominic Slingsby, stepped down from the Board on 11 March 2024.  Dominic will
remain as an employee of the Group until his retirement on 30 June 2024 after
the Company's next annual general meeting ("AGM"), in order to facilitate an
effective transition of his responsibilities.

 

Andrew Kitchingman, Slingsby's Independent Non-Executive Chairman commented:

 

"Dominic has worked for the Group for over 40 years. On behalf of the Board, I
would like to thank Dominic for his commitment and contribution during his
tenure. His dedication will be missed by everyone at Slingsby and we wish him
the very best in his retirement."

 

Related Party Transaction

 

As part of the Board change and Dominic's retirement, in addition to payment
in relation to his 12 month notice period, the Company has agreed with Dominic
that he shall receive a payment of £60,000 and non-cash benefits (principally
in relation to the keeping of a Company car) of a value of £15,500 from the
Company under an employment settlement agreement (the "Agreement").

 

Entry into the Agreement by the Company constitutes a related party
transaction under the AIM Rules for Companies as Dominic Slingsby was a
Director of the Company at the point at which the Agreement was signed. The
directors of Slingsby who are independent of the Agreement, being Andrew
Kitchingman and Morgan Morris, consider, having consulted with its nominated
adviser, Allenby Capital Limited, that the terms of the Agreement are fair and
reasonable insofar as the Company's shareholders are concerned.

 

 

For further information, please contact:

 

 H C Slingsby PLC                                        Tel: 01274 535 030
 Andrew Kitchingman, Non-Executive Chairman

 Morgan Morris, Group Chief Executive

 Allenby Capital Limited (Nominated Adviser and Broker)  Tel: 020 3328 5656
 Alex Brearley / George Payne (Corporate Finance)
 Amrit Nahal (Sales and Corporate Broking)

 

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