Hastings Group Holdings plc Notice of Board Resignation (8122D)
24 February 2020 - 6:00PM
UK Regulatory
TIDMHSTG
RNS Number : 8122D
Hastings Group Holdings plc
24 February 2020
FOR IMMEDIATE RELEASE
Hastings Group Holdings plc ("Hastings", the "Company")
24 February 2020
Notice of Board Resignation
The Company announces that it has received notice from Goldman
Sachs & Co ("GS"), under the terms of a Relationship Agreement
with the Company, of the removal of its appointed director to the
Company Board, Mr Sumit Rajpal. Mr Rajpal will, therefore, resign
from the Board with effect from 24 February 2020.
The Company has been notified that GS does not, at this time,
propose to nominate a replacement director. Under the terms of the
Relationship Agreement, GS remains at liberty to nominate a
director for appointment to the Board for as long as its interests
exceed 5% of the Company's issued share capital.
Gary Hoffman, Chair of Hastings, said:
"Since Sumit's first involvement with the Company in January
2014, when GS completed its initial investment, he has provided
valuable challenge and insight and has been a significant part of
the Group's journey through to its IPO in October 2015 and beyond.
I would like to thank him for his contribution in his time with us
and to wish him all the very best for the future".
For further information, please contact:
Tony Leppard
Group Company Secretary
cosec@hastingsplc.com
Instinctif Partners
Tim Linacre / Lewis Hill
+44 (0) 207 457 2020
hastings@instinctif.com
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END
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