TIDMCARR

RNS Number : 5025Q

Carr's Group PLC

21 February 2023

21 February 2023

Carr's Group plc

("Carr's", the "Company", or the "Group")

Board Changes

Carr's (CARR.L), the Speciality Agriculture and Engineering group, announces that the following previously announced Board changes are applicable with immediate effect:

   1.         Tim Jones joins the Board as Non-Executive Chair; 
   2.         Peter Page becomes Chief Executive Officer and relinquishes the role of Executive Chair; 
   3.         David White joins the Board as Chief Financial Officer; and 
   4.         Neil Austin stands down as Chief Financial Officer and from the Board.

The Group also announces that Martin Rowland will join the Board as a Non-Executive Director, effective 6 March 2023.

Mr Rowland is appointed as a representative of Harwood Capital Management Limited ("Harwood") pursuant to a relationship agreement between the Company and Harwood. The primary purpose of the relationship agreement is to ensure that the Company is capable of carrying on its business independently at all times. In accordance with the terms of the relationship agreement, Mr Rowland shall be entitled to remain on the Board of Directors of the Company provided that Harwood retains an aggregate interest of at least 5% of the Company's issued ordinary share capital. As at the date of this announcement, Harwood held an aggregate interest of 6.04% of the Company's issued ordinary share capital.

Mr Rowland is currently Non-Executive Chairman of AIM-listed Smoove plc, a provider of technology solutions for the housing sector. He has spent the last 14 years in a variety of investment roles, working for institutional private equity houses and investing alongside family offices. Prior to this Martin held operational and strategic roles in mid-sized and large corporates. He has been a director of companies in an executive and non-executive capacity, helping businesses to scale organically and through acquisition.

In accordance with Listing Rule 9.6.13, on 12 November 2008, DLG Equity Holdings Limited, of which Martin Rowland had previously been a Director, together with its subsidiaries DLG Finance Limited, DLG Bidco Limited, DLG Holdings Limited, DLG Acquisitions Limited, Data Locator Group Limited, Epic Care Limited and Call Connector Limited, entered into administration. The companies subsequently entered into creditors voluntary liquidation and were liquidated on 21 May 2012 with a shortfall to creditors of GBP35.3 million.

There are no other matters in respect of Mr Rowland's appointment requiring disclosure under UK Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.

Enquiries:

 
 
                                    +44 (0) 1228 554 
 Carr's Group plc                    600 
 Peter Page 
 Matthew Ratcliffe 
 
                                    +44 (0) 20 3727 
 FTI Consulting                      1340 
 Richard Mountain/Ariadna Peretz

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February 21, 2023 02:00 ET (07:00 GMT)

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