TIDMSIXH

RNS Number : 8935R

600 Group PLC

31 October 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014, AS AMENDED (AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

31 October 2023

The 600 Group PLC

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

Board changes and Update re Publication of Annual Report

The 600 Group announces, further to the announcement made on 1 September 2023, that Derek Zissman has today resigned as a director of the Company on the appointment of a non-executive successor. The Company further announces that Stephen Fiamma, after over 8 years on the Board, has also decided to resign as a director with immediate effect.

The Group is pleased to announce that Mrs Laura Moglestue-Blom has been appointed as a Non-Executive Director of the Company and as Chair of the Audit Committee with immediate effect.

Laura has more than 20 years of executive experience in the UK, EU and the US in Finance Director roles and in leading the finance functions for SME business services and private equity-backed growth companies.

Laura is the Co-founder and Director of Mogle & Partners Limited, a consultancy services contractor, working across a variety of sectors, including management consulting, biotech, healthcare and private equity. Prior to Mogle & Partners, Laura was Finance Director at Capital Systematics Limited, a boutique investment firm specialising in fintech, biotech, and other innovation-based industry sectors. Previously Laura was the Finance Director of Pasley-Tyler Holdings Limited, the Business services and serviced offices provider, between 2008 and 2017. Laura is a Fellow of the Institute of Chartered Accountants in England and Wales.

Paul Dupee, Chairman of 600 Group, said:

"We are delighted to welcome Laura to the Board and to replace Derek as Chair of the Audit Committee and I would like to thank both Derek and Stephen for their valuable contributions over many years with the Group."

The Company also provides the following update in relation to its Annual Report and Financial Statements for its financial year ended 31 March 2023 (the "2023 Annual Report").

Further to the announcement made on 1 September 2023, and whilst progress has been made, the Company's audit process remains ongoing. The Directors now anticipate that the Company will be in a position to publish the 2023 Annual Report prior to the end of 2023.

As a result, trading in the Company's ordinary shares on AIM will continue to be suspended pending publication of the 2023 Annual Report. Suspension from trading will be lifted with the publication of the 2023 Annual Report in due course. Notwithstanding the temporary suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules.

Since the Company's Trading Update announced on 1 September 2023, trading conditions have remained difficult, and the Group has continued to be loss making at an operating level. The Group continues to consider various financial alternatives to its existing debt facilities which currently expire on 30 November 2023.

Further announcements will be made, as appropriate, in due course.

Regulatory Disclosures:

The following disclosures are made pursuant to AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies:

In addition to her appointment as a Non-Executive Director of 600 Group, Laura Muriel Moglestue-Blom (nee Laura Muriel Blom and formerly Laura Muriel Fraser) aged 61, holds or has held directorships in the five years preceding her appointment at 600 Group plc as follows:

 
 Current Directorships            Former Directorships 
 Mogle & Partners Limited         Interactive Pharma Management 
                                   Services Limited 
 Pasley-Tyler & Company Limited   Capital Systematics Ltd 
 Pasley-Tyler Holdings Limited 
 Pasley-Tyler Trustees Limited 
                                 ------------------------------

Laura Moglestue-Blom holds no ordinary shares in the Company.

Enquiries:

 
The 600 Group PLC                                        Tel: +1 407 818 1123 
 Paul Dupee, Executive Chairman 
Cavendish Securities plc (Nominated Adviser and Broker)  Tel: 020 7220 0500 
 Ben Jeynes / Dan Hodkinson (Corporate Finance) 
 Henry Nicol (Sales)

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October 31, 2023 08:30 ET (12:30 GMT)

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