TIDMAPP
RNS Number : 6659F
Appreciate Group PLC
23 March 2022
23 March 2022
Appreciate Group PLC
("Appreciate Group" or the "Company" or the "Group")
Appointment of Chairman Designate
Appreciate Group, the UK's leading multi-retailer redemption
product provider to corporate and consumer markets, is pleased to
announce that, following a comprehensive external selection
process, it has appointed Guy Parsons as independent non-executive
director and Chairman-designate.
Guy joined the Board on 22 March 2022 and will succeed Laura
Carstensen as the Company Chairman from 1 April 2022, when Laura
will stand down, having announced her intention to do so at the
time of the company's AGM in September 2021, following almost nine
years' service on the Board .
Guy Parsons brings a wealth of experience to Appreciate Group,
having held several non-executive and chairman positions, and
senior executive roles, including at Chief Executive level. He is
currently a Non-executive Director and the remuneration committee
chair at Yorkshire Building Society, and chair at online sofa
retailer, Snug. Guy will be stepping down from his role at
Yorkshire Building Society at their AGM in April, having been a
director for nine years. He previously held CEO positions at
easyHotel plc and Travelodge.
Ian O'Doherty, Chief Executive Officer, at Appreciate Group
said:
"We are delighted to announce Guy's appointment as Chairman. He
joins us at an important time for the Group and brings strong board
and executive experience. Guy's non-executive and finance-regulated
background, combined with his track record of delivering digital
strategies in consumer businesses, will be invaluable in the next
stage of our growth strategy. I look forward to working with
him.
"I would also like to again thank Laura for the contribution she
has made to Appreciate Group for almost nine years, over five of
which were as Chairman. She has helped steer the business through a
period of transformation as well as the unprecedented challenges
brought by the pandemic."
Guy Parsons said:
"I am excited to be joining the team at Appreciate Group, a
business with a strong customer and consumer proposition and a
compelling growth opportunity. I look forward to supporting the
Board and management team to leverage the progress made to
modernise the business and build on the strong foundations it has
for future digital growth."
AIM Rules Schedule 2(g) disclosures for Guy Paul Cuthbert
Parsons
Mr Guy Paul Cuthbert Parsons (aged 58) directorships in the last
five years are as follows:
Current Directorships Previous Directorships
SNUG SHACK LIMITED BXTR SERVICES LIMITED
-----------------------
YORKSHIRE BUILDING SOCIETY NUUNLIMITED LIMITED
-----------------------
EASYHOTEL UK LIMITED
-----------------------
EASYHOTEL PLC
-----------------------
The Travelodge group of companies undertook a financial
restructuring in conjunction with a company voluntary arrangement
approved by creditors in October 2012 (after Guy Parsons had left
the group in April 2012). Key terms of the financial restructuring
included GBP75m of new shareholder equity injected into the
business, bank debt of GBP233m was written off and GBP71m repaid,
loan notes of GBP476m were written off and the repayment date of
the remaining debt was extended to 2017 and the rate of interest
was reduced. As part of the arrangements, the following companies,
which Guy Parsons was a director of within twelve months of the
arrangements, were solvently liquidated: Endell Group Holdings
Limited, Full Moon HoldCo 2 Limited, Full Moon HoldCo 3 Limited,
Full Moon HoldCo 3A Limited, TLLC Prop Hold Co 2 Limited and TLLC
Spareco Limited.
Mr. Parsons does not currently own any securities in the
Company.
There are no further disclosures required in accordance with
Rule 17 or Schedule 2(g) of the AIM Rules for Companies.
Appreciate Group Liberum MHP Communications
plc (NOMAD and broker)
Ian O'Doherty, CEO Richard Crawley Reg Hoare
Tim Clancy, CFO Jamie Richards Katie Hunt
Charles Hirst
Andy Hammerton, Head
of Corporate Affairs Tel: 020 3100 2222 Tel: 020 3128 8193
Email: appreciategroup@mhpc.com
Tel: 0151 653 1700
Notes to Editors:
Appreciate Group is one of the UK's leading gifting, pre-payment
and engagement companies, and experts at creating joyful
experiences and connecting people to the things in life they enjoy
the most.
Everything Appreciate Group does is focused on creating more joy
in the world, and it is proud to be trusted to help its customers
create moments they can treasure and remember, whether they are
giving, celebrating or rewarding.
Appreciate Group is a financial services business with a wide
portfolio of brands which provide solutions for its consumer and
business customers. Its consumer-facing brands meet a range of
prepayment and gifting needs, while its business products help
corporate customers reward and recognise their employees and
clients.
Appreciate Group is home to many of the country's most-loved
gifting, pre-payment and engagement solutions including Park
Christmas Savings, highstreetvouchers.com and Love2shop, and we are
fast-becoming the home of digital innovation in gifting.
Whether it's saving towards the perfect family Christmas or
celebrating with gift cards and vouchers, we create and supply
products that millions of people trust when it comes to giving and
receiving with family, friends or colleagues.
Park Christmas Savings: As the UK's largest family Christmas
savings club, Park Christmas Savings has helped over 2.7 million
families budget for Christmas on a short-term or year-round
basis.
Love2shop: Love2shop offers gift cards and gift vouchers
available to spend at stores and attractions across the UK. They
are also used through our Love2shop Business Services providing
corporate partners with incentives and rewards for their employees
and clients.
Appreciate Group plc's shares are traded on AIM, a market
operated by the London Stock Exchange.
The Park Prepayments Protection Trust is designed to increase
protection for customers' prepayments. The Trust has three
directors, two of whom are independent of Appreciate. Details of
the trust are set out here:
https://www.getpark.co.uk/CORPORATE/declaration.pdf
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END
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