REG - itim Group PLC - Board Changes

ITIMAnnouncement

13/03/2023 07:00

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RNS Number : 6577S  itim Group PLC  13 March 2023

13 March 2023

itim Group plc

("itim" or "the Company" and together with its subsidiaries "the Group")

Board Changes

itim Group plc, a SaaS based technology company that enables store-based
retailers to optimise their businesses to improve financial performance, is
pleased to announce the appointment of Damian Hopkins to the Board of
Directors as Non-Executive Director, effective immediately.

Damian will take over from Frank Lewis who will be stepping down as a
non-executive director of the Company, with effect from the next AGM. An
update on the AGM will be provided in due course.

Damian is a respected, and highly accomplished entrepreneur, senior executive
& business leader, he has operated within the global retail brands and
licensing industry for over 20 years, having founded, built and sold three
successful businesses in the sector.  His career has encompassed all aspects
of consumer fashion products, from value to luxury including retail,
licensing, international distribution, manufacturing, wholesale, and
e-commerce. Damian has a proven track record of launching, repositioning, and
transforming consumer brands & retailers, and he has also been a director
of Matalan where he developed and built their international business across 13
countries.

Damian was an early adopter of sustainability within fashion supply chains,
where he was a pioneer of launching Fairtrade Cotton and recycled polyester
garments in the UK in 2009.

Damian and his associated companies have won multiple business awards for
Licensing, Retail, and fashion supply. He has also taken numerous voluntary
roles supporting the retail industry including, The Retail Trust Charity,
where he was Chairman of the fundraising committee 2018/19, and is currently
Co-Chair of the Retail Trust Ambassadors. He is also the elected President of
The Twenty Club - founded in 1897, the Twenty Club is an exclusive retail
specific club that supports retail fellowship for senior retail and brand
owners & executives.

Damian has been a speaker, judge and panellist at numerous International
events, and awards in relation to sustainability, International expansion and
licensing.

 

Damian is currently the CEO and founder of The Radius Group a brand management
and licensing agency business, and he is the Royal Warrant Grantee the late
HRH Queen Elizabeth for the brand Wolsey.

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

Damian Andrew Hopkins, aged 51, does not own any shares in the Company.

A list of Damian's current directorships and partnerships together with those
held within the last five years is set out below:

 Current appointments          Appointments within previous 5 years:
 Alconbury Properties Limited  Select Licensing Limited
 Radius Group Trading Limited
 Vivere London Limited

 

Damian Hopkins was a director of Monitane Holdings Limited from 2 June 2009 to
21 January 2014, and its subsidiary companies including The Fielding Group
Limited, from 22 January 2010 to 21 January 2014 and Thumbprint Schoolwear
Limited from 27 June 2000 to 17 October 2013. In August 2013, the controlling
interest in Monitane Holdings Limited was sold to a private equity company,
Ellestone Apparel LLP and following a restructuring, Damian Hopkins resigned
from all companies by 21 January 2014.

 

The Fielding Group Limited was put into administration on 24 June 2014 and was
eventually dissolved on 6 April 2016. The administrator estimated total
preferential creditor claims to be approximately £100,000, however, there
were insufficient funds to enable a distribution. The statement of affairs
estimated unsecured creditor claims totalled £9.3m, the administrator
received claims of £3.3m, however, there were insufficient funds to enable a
distribution to unsecured creditors.

 

Thumbprint Schoolwear Limited was put in to administration on 24 June 2014 and
was eventually dissolved on 6 April 2016. The statement of affairs estimated
unsecured creditor claims totalled £1.2m, the administrator received claims
of £1.05m, however, there were insufficient funds to enable a distribution to
unsecured creditors.

 

No further information is required to be disclosed pursuant to paragraph (g)
of Schedule 2 of the AIM Rules.

 

Ali Athar, CEO of itim, commented: "I would firstly like to thank Frank for
all his efforts and counsel to date and we wish him well. I am delighted to
welcome Damian to the itim board as a Non-executive director. His extensive
experience and high profile within retailing will further strengthen itim's
credentials with its clients as well as adding further depth to our
understanding of our customers' needs."

On his appointment, Damian Hopkins said: "itim's high quality products and
services are a win-win for retailers wishing to maximise returns in today's
difficult markets. I am very much looking forward to deploying my skills and
experience to advance and accelerate the excellent progress made to date and
ensure itim's objectives are realised on plan."

END

Enquiries:

 

 Itim Group plc                   Ali Athar, CEO      0207 598 7700

                                  Ian Hayes CFO

 WH Ireland (NOMAD & Broker)      Katy Mitchell       0207 220 1666

                                  Harry Ansell

                                  Darshan Patel

 IFC Advisory                     Graham Herring      0207 3934 6630

                                  Florence Chandler

 

ABOUT ITIM

itim was established in 1993 by its founder, and current Chief Executive
Officer, Ali Athar. itim was initially formed as a consulting business,
helping retailers effect operational improvement. From 1999 the Company began
to expand into the provision of proprietary software solutions and by 2004 the
Company was focused exclusively on digital technology. itim has grown both
organically and through a series of acquisitions of small, legacy retail
software systems and associated applications which itim has redeveloped to
create a fully integrated end to end Omni-channel platform.

 

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