Napster Group PLC Board Changes (5841F)

TIDMNAPS

RNS Number : 5841F

Napster Group PLC

19 July 2021

NAPSTER GROUP PLC

("NAPS" or the "Company")

Board Changes

Napster (AIM: NAPS), a leading music company, is pleased to announce the appointment of Lansing ("Lanse") Davis and Peter Read as Non-Executive Directors of the Company with immediate effect. In addition, Andy Botha has also today resigned from the Board to pursue his other commitments.

Mr. Davis has spent nearly 20 years in the investment management sector, having commenced his career at Lord, Abbett & Co. LLC before founding his own asset management and advisory firm, Davis Capital Partners LLC in 2008. Lanse is currently the Managing Principal of Davis Capital Partners in addition to holding a number of advisory positions at US non-profit organisations and is the treasurer of the S&G Foundation a charitable organisation that raises funds for a variety of social issues such as education and the environment.

Mr. Read qualified as a fellow of the ICAEW in 1979, beginning his career at KPMG where he worked for 37 years. Having started out in audit, he also specialised in due diligence and financial reporting. Mr Read became a partner in 1990, focusing on Shipping and Telecoms, Media, and Technology ("TMT"). In 1996 Mr Read became Head of the UK Shipping Practice and in 2003 he became Head of the UK TMT Practice. In 2008, Mr Read was appointed to the roles of Chairman of UK TMT at KPMG and of their European Japanese Practice, both of which he held until he retired from the partnership in 2013. Presently, Mr Read is a non-executive director for, and chairs the Audit Committees of, several entities including Hafnia Ltd, Welbeck Publishing Group Ltd, the Professional Cricketers' Association, the Royal Automobile Club, the RAC Foundation and the Jaguar Daimler Heritage Trust. Mr. Read previously served as a Non-Executive Director of MelodyVR PLC from 2015 to 2017.

Anthony Matchett, CEO of Napster, said:

"I am delighted to welcome Lanse to the Board who brings with him a wealth of financial experience. and would like to welcome Peter back to the Board, his experience at KPMG and subsequent board positions will further strengthen the governance and oversight of our non-executive directors. Finally, on behalf of the Board I would like to thank Andy for his time and commitment to Napster and whose input has been invaluable over the past three years. We wish him well on his future endeavours"

For further information please contact:

 
Napster Group PLC                                 email@napster.group 
 Anthony Matchett, Group CEO 
finnCap Ltd ( Nominated Advisor and Broker)      Tel: +44 (0) 20 7614 
 Corporate Finance: Marc Milmo, James Thompson,                  5900 
 Milesh Hindocha 
 ECM: Tim Redfern, Sunila de Silva 
Equitory (Public Relations)                      napster@equitory.com 
 Clara Melia/Geoff Callow 
www.melodyvr.com 
 www.napster.com

INFORMATION REQUIRED UNDER SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 
Full name:                             Lansing (Lanse) Alden Davis 
Age                                    42 
Napster shares held:                   249,171,192 (held through 
                                        Davis Capital Partners LLC) 
                                        In addition, Davis Capital 
                                        Partners LLC holds warrants 
                                        over 398,009,950 Napster 
                                        shares 
Current directorships:                 Shelby Cullom Davis Charitable 
                                        Fund 
                                        S&G Foundation 
                                        Davis Capital Partners, 
                                        LLC 
                                        Davis Capital Global Frontier 
                                        Opportunities, LLC 
                                        Accial Capital 
Historic directorships from previous   Clearsurance LLC 
 5 years:                               Southern States Bancorp 
                                        Inc. 
                                        Capital Pacific Bancorp 
                                        Inc.

There is no further information to be disclosed in relation to the appointments of Lanse Davis pursuant to Schedule 2, paragraph (g) of the AIM Rules.

 
Full name                              Peter Graham Read 
Age                                    65 
Napster shares held                    3,137,254 Ordinary Shares 
                                        (held though Mr Read's pension 
                                        fund) 
Current directorships:                 Hafnia Limited 
                                        Welbeck Publishing Group 
                                        Limited 
                                        Royal Automobile Club 
                                        RAC Foundation for Motoring 
                                        Limited 
                                        Jaguar Daimler Heritage Trust 
                                        QM Capital Partners Limited 
                                        P.C.A Management Limited 
Historic directorships from previous   Quarto Group Inc (The) 
 5 years:                               Motorsport UK Limited 
                                        Quayle Munro Holdings Limited 
                                        QM Advisory Limited 
                                        Concha Limited 
                                        Billion Dollar Lottery PLC 
                                        Napster Group PLC 
                                        Norfolk House Residents Limited 
                                        Future Fuels No.1 LLP

Mr. Read was a director of Concha Limited and Billion Dollar Holdings PLC, at the time of each company's voluntary liquidation. In each case there was no loss to creditors. Mr. Read is a director of QMM Holdings Limited which is currently in liquidation and there is expected to be no loss to creditors.

There is no further information to be disclosed in relation to the appointments of Peter Read pursuant to Schedule 2, paragraph (g) of the AIM Rules.

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