Restore PLC AGM Statement and Appointment of CFO (6231Z)
21 May 2019 - 4:01PM
UK Regulatory
TIDMRST
RNS Number : 6231Z
Restore PLC
21 May 2019
21 May 2019
Restore plc
AGM Statement and Appointment of Chief Financial Officer
Restore plc (AIM: RST), the UK leader in document management and
business relocation services, today issues a trading update ahead
of its Annual General Meeting to be held later today.
Trading for the first quarter was in line with the Board's
expectations.
The core records management business has continued its positive
momentum, resulting in net box volume growth in Q1. Restore
Digital, the scanning business, is trading as anticipated and
gearing up for the delivery of its major exam scanning contract.
Operating performance in Restore Datashred has remained stable,
with a continued focus on tight cost control, whilst customer
retention and new business development have been encouraging.
Trading in the Relocation Division, comprising Restore Harrow Green
and Restore Technology (IT lifecycle services), has been
satisfactory and consistent with prior year levels.
Accordingly, the Board's expectations for the full year remain
unchanged, including planned reductions in net bank debt levels,
and look forward to delivering another year of progress in
2019.
The Board is pleased to announce the appointment of Neil Ritchie
as Chief Financial Officer. Neil is currently Chief Financial
Officer of AIM-listed Mulberry Group plc and prior to this spent 14
years with the technology business Dyson, where he held a variety
of commercial and finance roles. Neil replaces Adam Councell who,
as previously announced, is stepping down from the Board in August.
Neil will serve on the Board as an Executive Director, reporting to
CEO Charles Bligh effective from 1 October 2019.
Martin Towers, Chairman, commented:
"I am delighted that Neil will be joining Restore as CFO. He
brings a wealth of experience in high growth and listed businesses
and will be an excellent addition to the leadership team."
Neil Ritchie commented:
"I am delighted to be joining Restore, a high quality business
with a sustained track record of growth and a strong financial
position. It's an exciting time to join and I look forward to
working with the Board and the team to build the Group further from
this great foundation."
The Group's Half Year results will be released on 31 July
2019.
For further information please contact:
Restore plc www.restoreplc.com
Charles Bligh, Chief Executive Officer 020 7409 2420
Adam Councell, Group Finance Director
Peel Hunt LLP www.peelhunt.com
Mike Bell 020 7418 8900
Guy Wiehahn
Ed Allsopp
FTI Consulting www.fticonsulting.com
Nick Hasell 020 3727 1340
Alex Le May
Disclosures required by Schedule 2(g) of the AIM Rules for
Companies
Neil James Ritchie (age 48)
Current directorships Directorships held in the last
five years
------------------------------------- -------------------------------
Fashion AZ Limited None
KCS Investments Limited
Mulberry (Asia) Limited
Mulberry (Asia) Limited (Taiwan
branch)
Mulberry (UK) Limited
Mulberry Co (France) SARL
Mulberry Co (Sales) Ltd (Irish
branch)
Mulberry Co (Sales) Ltd (Netherlands
branch)
Mulberry Company (Australia)
Pty Ltd
Mulberry Company (Austria)
GmbH
Mulberry Company (Canada)
Inc.
Mulberry Company (Design)
Limited
Mulberry Company (Europe)
Limited
Mulberry Company (Germany)
GmbH
Mulberry Company (Holdings)
Limited
Mulberry Company (Sales)
Limited
Mulberry Company (Shoes)
Limited
Mulberry Company (Switzerland)
GmbH
Mulberry Company (USA) Inc.
Mulberry Fashions Limited
Mulberry France Services
SARL
Mulberry Group Holding Company
Limited
Mulberry Group plc
Mulberry Japan Co. Limited
Mulberry Korea Co. Ltd
Mulberry Leathers Limited
Mulberry Trading (Shanghai)
Company Limited
Mulberry Trading Holding
Company Limited
Save as set out above, there are no further disclosures required
pursuant to Schedule Two, paragraph (g) of the AIM Rules for
Companies in respect of Mr Ritchie's appointment to the Board.
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END
AGMFMGZKRGNGLZM
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