TIDMSIS
RNS Number : 4803H
Science in Sport PLC
28 July 2023
28 July 2023
Science in Sport plc
(the "Company" or "Group")
Board Changes
Science in Sport plc (AIM: SIS), the premium performance
nutrition company serving elite athletes, sports enthusiasts, and
the active lifestyle community, announces the resignation of Tim
Wright, Non-Executive Director and the appointment of Paul
Richardson as a Non-Executive Director, both with immediate effect.
Accordingly, Tim Wright will not seek re-election at today's Annual
General Meeting (the "AGM"). Paul Richardson is a board
representative of Otus Capital Management, which holds 19,552,540
ordinary shares in the Company.
As the Company's AGM Notice has already been issued, the Company
confirms that the resolution to reappoint Tim Wright as a
Non-Executive Director of the Company (Resolution 2) is now
withdrawn. The withdrawal of Resolution 2 does not otherwise affect
the validity of the Notice of Meeting, or any proxy votes already
submitted on other proposed resolutions. The numbering of all other
proposed resolutions at the AGM will remain unchanged.
The Board will now commence a process to select a new
independent non-executive director and an announcement will be made
in this regard in due course.
Paul Richardson is a Solicitor by qualification and after a
period in private practice moved in house as Head of Legal and
Business Affairs before moving into senior management roles which
have included Chief Executive and Chairman of private and listed
companies, the most recent of which was Chairman at AIM company
Frenkel Topping Group Plc. Paul has also enjoyed a parallel pro
bono Charity career for over 20 years and was Chairman of The Steve
Redgrave Trust, a Trustee at WellChild and is currently Chairman of
Special Olympics Great Britain.
John Clarke, Chairman of Science in Sport said:
"On behalf of the Board I would like to thank Tim for his
invaluable contribution and professional work in the creation of
the rapidly growing Science in Sport business, including
consistently applying his deep global marketing expertise to the
establishment of the company's two leading Sports Nutrition brands.
The Board welcomes Paul and the experience he will bring."
The following information is disclosed in respect of Paul
Richardson pursuant to Rule 17 and Schedule 2(g) of the AIM Rules
for Companies.
The names of all companies and partnerships of which Paul Donald
Richardson, aged 56, is, or has been a director or partner at any
time in the previous five years are set out below:
Current directorships or partnerships Previous directorships or partnerships
(in the last five years)
Arwen Ai Limited Wellchild
--------------------------------------
Chatom Consulting Limited Frenkel Topping Group Plc
--------------------------------------
SOGB Promotions Limited Katana Group Limited
--------------------------------------
Special Olympics Great Britain PSM Training Academy Limited
--------------------------------------
PSM Training Limited
--------------------------------------
Real Good Food Plc
--------------------------------------
Sports and Well Being Analytics
Limited
--------------------------------------
E-Giving Ltd
--------------------------------------
Future Group Asset Management
Limited
--------------------------------------
UK Training Wing Limited
--------------------------------------
PSM Sport Limited
--------------------------------------
PSM Property Consulting Limited
--------------------------------------
Phoenix Sports and Media Holdings
Limited
--------------------------------------
Mr Richardson has no personal interest in the ordinary shares of
Science in Sport plc. Save as set out in this announcement, there
are no further details to be disclosed under Rule 17 or Schedule
2(g) of the AIM Rules for Companies in respect of Mr
Richardson.
For further information:
Science in Sport plc T: 020 7400 3700
Stephen Moon, CEO
Daniel Lampard, CFO
Liberum (Nominated Adviser and T: 020 3100 2000
Broker)
Richard Lindley / Anake Singh
Notes to Editors
About Science in Sport plc
Headquartered in London, Science in Sport plc is a leading
sports nutrition business that develops, manufactures, and markets
innovative nutrition products for professional athletes, sports and
fitness enthusiasts and the active lifestyle community. The Company
has two highly regarded brands, PhD Nutrition, a premium
active-nutrition brand targeting the active lifestyle community,
and SiS, a leading endurance nutrition brand among elite athletes
and professional sports teams.
The two brands sell through the Company's phd.com and
scienceinsport.com digital platforms, third-party online sites,
including Amazon and Tmall, and extensive retail distribution in
the UK and internationally, including major supermarkets, high
street chains and specialist sports retailers. This omnichannel
footprint enables the Company to address the full breadth of the
sports nutrition market, forecast to be GBP13 billion(1) worldwide
by 2023.
PhD is one of the UK's leading active nutrition brands with a
reputation for high quality and product innovation. The brand has
grown rapidly since its launch in 2005. The range now comprises
powders, bars, and supplements, including the high protein, low
sugar range, PhD Smart. PhD brand ambassadors include leading
fitness influencers Ross Edgley and Obi Vincent.
SiS, founded in 1992, has a core range comprising gels, powders
and bars focused on energy, hydration, and recovery. SiS is an
official sports nutrition supplier to over 330 professional teams,
organisations, and national teams worldwide, including INEOS
Grenadiers Cycling Team. SiS supplies more than 150 professional
football clubs in the UK, Europe, and the USA. SiS is Performance
Research Partner to the English Football Association and Official
Vitamins and Supplements Partner to the Milwaukee Bucks, 2021
National Basketball Association Champions.
For further information, please visit phd.com and
scienceinsport.com
(1) Euromonitor Passport Database Global Assessment (December
2020)
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