REG - SIG PLC - Directorate Changes

SIGAnnouncement

08/03/2023 07:15

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RNS Number : 2200S  SIG PLC  08 March 2023

LEI:
213800VDC1BKJEZ8PV53
8 March 2023

 

SIG plc
(the "Company" or "SIG")

Directorate changes

SIG announces that Christian Rochat, one of the two Directors appointed by
CD&R Sunshine S.À R.L ("CD&R"), informed the Company yesterday that
he does not intend to stand for re-election at the Annual General Meeting on 4
May 2023 (the "AGM"). CD&R yesterday served notice on the Company that it
intends to nominate Mr Diego Straziota for appointment to SIG's Board at the
AGM.

 

Mr Straziota is a Managing Director at CD&R principally engaged in
evaluating investment opportunities in the industrials and business services
verticals. He has served as CD&R's appointed observer to SIG's Audit &
Risk Committee since July 2020. There are no disclosures required in respect
of this appointment pursuant to Listing Rule 9.6.13 (1) to (6).

 

Commenting on these changes, SIG's Chairman Andrew Allner said "Christian
joined the Board at the time of CD&R's investment in July 2020. We are
grateful to him for the contribution he has made to the Company's turnaround
and progress since then, to the benefit of all of SIG's shareholders. Diego is
well-known to the Board, and we look forward to working with him."

 

 

 SIG plc                                           +44 (0) 114 285 6300
 Andrew Allner     Chairman

 FTI Consulting                                    +44 (0) 20 3727 1340
 Richard Mountain

 Peel Hunt LLP - Joint broker to SIG               +44 (0) 20 7418 8900
 Mike Bell / Charles Batten

 Investec Bank plc - Joint broker to SIG           +44 (0) 20 7597 5970
 Bruce Garrow / David Anderson

Notes

·    There are no remuneration payments (within the meaning of section
430(2B) of the Companies Act 2006) that will be paid to Christian Rochat
following him ceasing to be a director and he will not receive any payment for
loss of office

 

·    Under the terms of the relationship agreement dated 29 May 2020
between the Company and CD&R, whilst CD&R holds at least 20% of the
votes able to be cast at general meetings of the Company, CD&R has the
right to appoint two non-executive directors to the Board (each a "Nominee
Director"). In addition, whilst CD&R holds at least 10% of the votes able
to be cast at general meetings of the Company, CD&R has the right to
designate a Nominee Director to sit on each of the Remuneration Committee and
the Nominations Committee, and to appoint an observer to the Audit & Risk
Committee

 

·    Christian Rochat is a member of the Nominations Committee. Upon him
ceasing to be a director, CD&R's other current Nominee Director, Bruno
Deschamps, shall be appointed a member of the Nominations Committee. Bruno
will remain a member of the Remuneration Committee

 

·    Diego Straziota shall continue to be CD&R's appointed observer to
the Audit & Risk Committee following his appointment as a Nominee Director

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