REG - Virgin Money UK PLC Clydesdale Bank PLC - Directorate Change

Virgin Money UKAnnouncement

27/09/2024 13:15

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RNS Number : 0679G  Virgin Money UK PLC  27 September 2024

 

 

 

VIRGIN MONEY UK PLC

(Company or Virgin Money)

 

LEI: 213800ZK9VGCYYR6O495

 

27 September 2024

 

Directorate Change

The Company announces that Sara Weller, the Virgin Money director who is
appointed to the Virgin Money Board as a representative of Virgin Enterprises
Limited, will step down from the Virgin Money Board conditional upon, and with
effect from, the scheme of arrangement between Virgin Money and its
shareholders under Part 26 of the Companies Act (the "Scheme") to implement
the recommended cash acquisition of the entire issued and to be issued share
capital of Virgin Money by Nationwide Building Society ("Nationwide") (the
"Acquisition") becoming Effective. She will also step down as a director of
Clydesdale Bank on the same date.

Additionally, the Company announces that Darren Pope a non-executive director
of Virgin Money and of Clydesdale Bank, has informed the Virgin Money Board of
his intention to take up another non-executive director role externally which
will cause a conflict with his role at Virgin Money. He will therefore also
step down from the Virgin Money Board and as a director of Clydesdale Bank
conditional upon, and with effect from, the Scheme becoming Effective.

David Bennett, Board Chair said "On behalf of the Board I would like to thank
Sara and Darren for their significant contribution during their time on the
Board including most recently during the Acquisition period when their
experience and insights have been invaluable. We wish Sara and Darren all the
best for the future."

Unless otherwise defined, all capitalised terms in this announcement have the
meaning given to them in the scheme document relating to the Acquisition
published on 22 April 2024.

Announcement authorised for release by Lorna McMillan, Group Company
Secretary.

 

For further information, please contact:

 

 Investors and Analysts
 Richard Smith                                    07483 399303
 Head of Investor Relations & Sustainability      richard.smith@virginmoney.com

 Company Secretary
 Lorna McMillan                                   07834 585436
 Group Company Secretary                          lorna.mcmillan@virginmoney.com

 Media Relations
 Press Office                                     0800 066 5998
                                                  press.office@virginmoney.com

 

 

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