DP Poland PLC Board Changes & Related Party Transaction (4808H)
28 July 2023 - 4:00PM
UK Regulatory
TIDMDPP
RNS Number : 4808H
DP Poland PLC
28 July 2023
DP Poland PLC
("DP Poland", the "Company" or the "Group")
Board Changes & Related Party Transaction
DP Poland, the operator of Domino's pizza stores and restaurants
across Poland and Croatia, announces that as a result of Andrew
Rennie's appointment as an Executive Director of Domino's Pizza
Group Plc., he will resign from the Board of DP Poland as a
Non-executive Director with effect from 1 October 2023.
Andrew is joining Domino's Pizza Group Plc., who operate and
franchise Domino's stores in the UK and the Republic of Ireland, as
Chief Executive Officer with effect from 1 August 2023. Given these
new executive responsibilities Andrew will be standing down to
allow complete focus on his new role. As a result of his
resignation the Board have agreed that Andrew will no longer
subscribe for a further 3,191,489 Second Subscription Shares at 8
pence, as contemplated following the acquisition of All About Pizza
d.o.o on 29 July 2022 (the "Waiver"). Andrew will remain a
committed and supportive shareholder in respect of his current 2%
shareholding in the Company.
Andrew Rennie's share options will cease vesting when he leaves
the Board at the beginning of October 2023, with full details
provided in the 2023 Annual Report.
The Board will commence a process to identify a replacement
independent Non-Executive Director.
Statement from Andrew Rennie, Non-Executive Director of DP
Poland:
"It's been fantastic to be part of the DP Poland team. Poland is
one of the fastest growing Domino's markets globally in 2023. I
have worked with Nils Gornall in Domino's businesses for more than
20 years and I believe that under his leadership the company is on
the right track. David Wild also has extensive experience of the
Domino's brand across different markets and I am confident in their
ability to deliver value for customers and shareholders. I look
forward as a committed shareholder to seeing our strategy executed
to capitalise on the huge opportunities in front of the
business."
Statement from David Wild, Chairman of DP Poland:
"On behalf of the Board, I'd like to thank Andrew for his
significant contribution to the Company over the past year. His
long history with the Domino's brand in different geographies has
been instrumental in helping set DP Poland on the positive
trajectory seen today. We wish him all the best in his new
executive role at Domino's Pizza Group Plc and his continued
involvement as a shareholder in DP Poland."
Related Party Transaction
Andrew Rennie is a Non-Executive Director of DP Poland and
accordingly the Waiver is classified as a related party transaction
pursuant to the AIM Rules for Companies. The directors of the
Company, excluding Andrew Rennie, having consulted with Singer
Capital Markets, the Company's Nominated Adviser, consider that the
terms of the Waiver are fair and reasonable insofar as the
Company's shareholders are concerned.
Enquiries:
DP Poland plc
Nils Gornall , CEO
Tel: +44 (0) 20 3393 6954
Email: ir@dppoland.com
Singer Capital Markets (Nominated Adviser and Broker)
Shaun Dobson / Jen Boorer
Tel: +44 (0) 20 7496 3000
Notes for editors
About DP Poland plc
DP Poland has the exclusive right to develop, operate and
sub-franchise Domino's Pizza stores in Poland and Croatia. The
group operates 117 stores and restaurants throughout cities and
towns in Poland and Croatia.
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END
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