TIDMRBGP
RNS Number : 8730R
RBG Holdings PLC
03 March 2023
3 March 2023
RBG Holdings plc
("RBG" or "the Group")
Board Changes and Notice of Results
Further to its announcement on 31 January 2023, the Board of RBG
Holdings plc (AIM: RBGP), the legal and professional services
group, is pleased to confirm that the following individuals have
today been appointed to the Group Board:
-- Jon Divers - Chief Executive Officer
-- Tania MacLeod - Executive Director
-- Nick Davis - Executive Director
(together, the "New Directors").
Commenting on the confirmation of the appointments, Marianne
Ismail, Non-Executive Director, said :
"The appointment of these executives to the Board marks an
important inflection point for the Group and the executive members
of the Board are now more closely aligned with those who deliver
revenue and drive growth.
"Jon has already demonstrated an excellent ability to lead and
manage the business in his role as COO of the Group and we look
forward to him taking a more market focussed role. Nick brings a
wealth of experience in law firm management and on AIM related
matters and will help guide the Board in respect of its legal
growth strategy and market responsibilities. Tania is the Group's
longest serving partner and has a high degree of familiarity with
the Group from both a commercial and management perspective. The
benefits of these changes are already being felt across the
business."
For the avoidance of doubt, the Non-Executive Board remains
unchanged. The Board now comprises four Executive and four
Non-Executive Directors.
Notice of Results
The Company will announce its results for the year ended 31
December 2022 on 26 April 2023. As stated in the announcement on 31
January 2023, unaudited FY22 revenue, adjusted EBITDA and adjusted
operating profit are expected to be in line with consensus market
expectations ( (1) and the Group intends to pay a second interim
dividend for the twelve months to 31 December 2022 which will be
announced on 26 April 2023.
About the New Directors
Save as set out below, there is no further information to be
disclosed in respect of Jon Divers, Nick Davis and Tania MacLeod
under Schedule 2(g) of the AIM Rules.
Jon Divers joined RBG Legal Services in February 2022 as Chief
Operating Officer. Prior to this role in Professional Services, Jon
held a variety of senior management and Managing Director roles in
the transport and logistics sector. He has a strong focus on
organic revenue growth and margin through cost control and believes
all businesses have an opportunity for improved efficiency.
Jon's background in industry has given him a broad range of
experience working with international and time sensitive supply
chains, union wage negotiations and demanding clients. Jon has
already demonstrated that these commercial skills transfer well
into Professional Services as a sector that is transforming and
changing rapidly.
Nick Davis is a qualified lawyer with over 20 years of
experience in practice. Nick was CEO of Memery Crystal LLP (trading
as MC Partners LLP or "Memery Crystal") at the time of its
acquisition by the Group in May 2021. Nick joined Memery Crystal in
2000 and specialises in corporate finance with expertise in IPOs,
equity capital markets and mergers & acquisitions. Nick sits on
the AIM Advisory Group of the London Stock Exchange, a group that
provides input and advises on matters affecting the operation and
regulation of AIM. Nick was previously a Non-Executive Director of
AIM Listed Shanta Gold Limited between 2012 and 2014, and a
Director of a subsidiary of The Supreme Cannabis Company listed on
the TSX.
Tania MacLeod is a qualified lawyer who trained at, and in 1997
became a partner in, Rosenblatt Solicitors. In 2018, the business
of Rosenblatt Solicitors was acquired by Rosenblatt Limited, which
was subsequently acquired by Rosenblatt Group plc (now RBG Holdings
plc) as part of its IPO and admission to AIM. Tania will continue
in a fee earning capacity as Senior Partner of Rosenblatt and Head
of Dispute Resolution, titles which she will retain upon her
appointment to the Group Board.
The following disclosures are required regarding the appointment
of the New Directors pursuant to Schedule 2(g) of the AIM Rules for
Companies ("AIM Rules"):
Jonathan William Divers (aged 52):
Current Directorships and Partnerships Previous Directorships and
Partnerships (within the last
five years)
Midlands Truck & Van Limited
-------------------------------
As at the date of this announcement, Jon Divers does not hold
any ordinary shares in the Group.
Nicholas Leon Davis (aged 51):
Current Directorships and Partnerships Previous Directorships and
Partnerships (within the last
five years)
Battlers Mews Limited Battlers Investments Limited
MC Partners LLP RBG Legal Services Limited
Olivia's Vision Supreme Heights Limited
-------------------------------
As at the date of this announcement, Nick Davis owns 1,100,674
ordinary shares in the Group (or 1.15% of issued share
capital).
Tania Jacqueline MacLeod (née Baldwin) (aged 55):
Current Directorships and Partnerships Previous Directorships and
partnerships (within the last
five years)
Programmed Planned Exit LLP
RBL Law Limited
-------------------------------
Mrs MacLeod was an LLP Designated Member of Programmed Planned
Exit LLP which entered creditors' liquidation in September 2016 and
was then dissolved on 10 November 2022. Total claims made by
unsecured creditors in relation to the liquidation were
GBP1,194,462.56 and a sum in excess of this amount was paid to the
liquidators. As a result of liquidation fees incurred, at the
direction of the principal creditor, total distributions paid to
unsecured creditors equalled 81.14p in the GBP.
As at the date of this announcement, Tania MacLeod owns
1,305,044 ordinary shares in the Group (or 1.37% of issued share
capital).
- Ends -
Enquiries:
RBG Holdings plc Via SEC Newgate
Marianne Ismail, Non-Executive Director
Singer Capital Markets (Nomad and Broker) Tel: +44 (0)20 7496
Rick Thompson / Alex Bond / James Fischer 3000
(Corporate Finance)
Tom Salvesen (Corporate Broking)
SEC Newgate (for media enquiries) Tel: +44 (0)7540
Tali Robinson, Robin Tozer 106366
rbg@secnewgate.co.uk
Notes to Editors
-- ( (1) RBG understands that consensus market expectations for
the year ended 31 December 2022 are for revenues of GBP49.5
million, Adj. EBITDA of GBP11.2 million and Adj. PBT of GBP6.9
million (Source: FactSet)
About RBG Holdings plc
-- Further information is available on RBG Holdings plc's website
-- Follow RBG Holdings on LinkedIn
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March 03, 2023 07:44 ET (12:44 GMT)
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