REG - Restaurant Group PLC - Directorate Change

RestaurantAnnouncement

08/09/2023 07:00

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RNS Number : 7888L  Restaurant Group PLC  08 September 2023

8(th) September 2023

 

The Restaurant Group plc ("Group" or "TRG" or "The Company")

 

Directorate Change

 

The Restaurant Group plc today announces that the Company's Chairman, Ken
Hanna has informed the Company of his intention not to seek re-election at the
Group's next AGM during 2024 due to personal reasons.

The Board will now initiate a comprehensive search process to identify a new
Chairman and will update the market as and when appropriate.

Ken will remain with TRG as Chairman until his successor is appointed in order
to allow for an orderly handover.

TRG's reported strong Interim Results on 6(th) September with Group revenue
+10% and Adjusted EBITDA(1) +15%, driven by Wagamama, Pubs and Concessions.
The Company also announced a moderate increase in management's FY23 Adjusted
EBITDA(1) expectations and excellent early progress in executing its
medium-term plan.

Commenting on the announcement, Ken Hanna, Chairman of TRG, said:

"It has been a privilege to work at TRG and I will be leaving the company in
great shape with the business trading really strongly, outperforming the
market and making good progress on its strategic options.

I would like to thank the Board and management team as well as our brilliant
colleagues across the business for their great work and support during my time
with TRG. I wish them and the Group much continued success."

Commenting on the announcement, Andy Hornby, CEO of TRG, said:

"On behalf of the Board I would like to thank Ken for his outstanding
contribution to the business. He has been an exceptional Chairman and a hugely
valued colleague during a critically important period for TRG as we have
successfully recovered from the Covid pandemic and made good progress with our
strategy.  Ken's leadership of the Board will be greatly missed by all his
colleagues at TRG and we wish him well."

 

 

This announcement is made pursuant to LR 9.6.11R.

 

(1.                  ) Pre-IFRS 16 Adjustment and
exceptional charges

 

 

Enquiries:

 The Restaurant Group plc                                    020 3117 5001

 Andy Hornby, Chief Executive Officer

 Umer Usman, Investor Relations

 MHP Group                                                   0788 522 4532 / 0787 631 7387

 Oliver Hughes

 James McFarlane

 

 

 

 

 

Notes:

 

The Restaurant Group plc had approximately 380 restaurants and pub restaurants
throughout the UK as at 8(th) September 2023. Its principal trading brands are
Wagamama and Brunning & Price.  It also operates a multi-brand
Concessions business which trades principally in UK airports.  In addition,
the Wagamama business has a 20% stake in a JV operating seven Wagamama
restaurants in the US and c. 60 franchise restaurants operating across a
number of territories.

 

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