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RNS Number : 2510E

Speedy Hire PLC

27 October 2022

Speedy Hire Plc

("Speedy", "the Company" or "the Group")

Board change

Speedy, the UK's leading tools and equipment hire services company, operating across the construction, infrastructure, and industrial markets, announces that James Bunn has tendered his resignation as Chief Financial Officer ("CFO") to pursue an opportunity in an unrelated sector. The Company has agreed that James will step down as CFO and from the Board on 1 November 2022.

The Board has appointed an external head-hunter to start the process to find a permanent successor.

In the intervening period, the Board is pleased to announce the appointment of Paul Rayner. He will assume the role of interim CFO with effect from 1 November 2022, for a period of up to 12 months allowing time for the Board to complete the recruitment process. Paul is a Fellow of The Institute of Chartered Accountants with over 25 years' experience in senior financial roles, including interim and permanent roles respectively on the main boards of FTSE-listed companies, Avon Protection PLC and Chemring Group PLC. Until his leaving date has been agreed, James will continue working with Paul and the rest of the Speedy executive team to ensure a smooth hand over of responsibilities.

The Board confirms that trading in the first half of the financial year has been in line with its expectations. As previously announced, the Group intends to report its interim results for the six months ended 30 September 2022 on 15 November 2022.

David Shearer, Chairman, said:

"On behalf of the Board, I would like to thank James for his contribution at Speedy and wish him well in his new role. I am pleased to welcome Paul Rayner as interim CFO, which will allow the Board time to conduct a thorough process to find a successor to work with CEO Dan Evans as he drives forward Speedy's growth strategy."

Enquiries:

 
 Speedy Hire Plc           Tel: 01942 720 000 
 David Shearer, Chairman 
                          ------------------- 
 
 MHP Communications        Tel: 020 3128 8540 
                          ------------------- 
 Oliver Hughes 
                          ------------------- 
 Andrew Jaques 
                          ------------------- 
 Charlie Barker 
                          -------------------

Notes to Editors: Founded in 1977, Speedy is the UK's leading provider of tools, equipment and plant hire services to a wide range of customers in the construction, infrastructure and industrial markets, as well as to local trade and industry. The Group provides complementary support services through the provision of training, asset management and compliance services. Speedy is certified nationally to ISO50001, ISO9001, ISO14001, ISO17020, ISO27001 and OHSAS18001. The Group operates from c.200 fixed sites across the UK and Ireland together with a number of on-site facilities at client locations and through a joint venture in Kazakhstan.

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END

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October 27, 2022 02:00 ET (06:00 GMT)

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