REG - Inspecs Group PLC - Board Composition

InspecsAnnouncement

20/12/2024 07:00

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RNS Number : 8401Q  Inspecs Group PLC  20 December 2024

20 December 2024

 

Inspecs Group plc
("Inspecs", the "Company" or the "Group")

 

Board Composition

 

Inspecs Group plc, a leading designer, manufacturer and distributor of eyewear
(sunglasses, optical frames, lenses and low vision products), announces that
its Board has decided to start a process of enhancing its governance
structures.

In support of this, Robin Totterman has decided that he intends to step down
as Executive Chair of the Board with effect from the conclusion of the
Company's AGM in 2025.  The Board has, therefore, agreed to commence a search
for a new non-executive and independent director to assume the role of Chair
when Robin Totterman steps down.  The Board is clear that Robin Totterman
remains critical to the future success of Inspecs and is delighted that he
will continue to perform his day-to-day executive functions within the
business as well as remaining a director of the Company.

The Board has also determined that it will undertake a full review of its
balance and composition.  In undertaking that review, the Board will take
full account of generally accepted principles of good corporate governance.

 

Robin Totterman, Chair of Inspecs Group plc, commented:

"This change to my role reflects a continuing commitment to the evolution of
the Group and its governance structures since it listed in 2020. I remain
fully committed to Inspecs and will continue to contribute fully to its future
success."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR").  The person
responsible for making this announcement is Elliott Smith, Company Secretary.

 

For further information please contact:

Inspecs Group
plc
via FTI Consulting
Richard Peck (CEO)
            Tel: +44 (0) 20 3727 1000

Chris Kay (CFO)

Peel Hunt (Nominated Adviser and Broker)       Tel: +44 (0) 20 7418 8900

George Sellar

Andrew Clark

FTI Consulting (Financial
PR)                          Tel: +44 (0) 20 3727
1000

Alex Beagley

Harriet Jackson

Amy Goldup

 

About Inspecs Group plc

INSPECS is a leading provider of eyewear solutions to the global eyewear
market. The Group produces a broad range of eyewear frames, low vision aids
and lenses, covering optical, sunglasses and safety, which are either
"Branded" (under licence or under the Group's own proprietary brands), or
"OEM" (unbranded or private label on behalf of retail customers).

INSPECS is building a global eyewear business through its vertically
integrated business model. Its continued growth is underpinned by six core
pillars: increasing the penetration of its own-brand portfolio, increasing
distribution, growing its travel retail markets, maximising group synergies,
expanding its manufacturing capacity and scaling the research and development
department as it develops new and innovative eyewear products.

The Group has operations across the globe: with offices and subsidiaries in
the UK, Germany, Portugal, Scandinavia, the US and China (including Hong Kong,
Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK
and Italy.

INSPECS customers are global optical and non-optical retailers, global
distributors and independent opticians. Its distribution network covers over
80 countries and reaches approximately 75,000 points of sale.

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