The
information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is
part of UK law by virtue of
the European Union (Withdrawal)
Act 2018. The information is disclosed in accordance with the
Company's obligations under Article 17 of
the UK MAR. Upon the publication
of this announcement, this inside information is now considered to
be in the public domain.
30
April 2024
THE PEBBLE GROUP
PLC
("The
Pebble Group" or the "Group")
Directorate
Change
The Pebble Group (AIM: PEBB, OTCQX:
PEBBF), a leading provider of digital commerce, products and
related services to the global promotional products industry,
announces changes to its Board of Directors.
As a consequence of his growing
private sector business commitments, Richard Law has resigned as
Chair and as a Non-Executive Director of the Group.
The Board is comfortable in accepting this
resignation with immediate effect because
it is confident that the number, depth of
experience and commitment of the continuing Directors is strong,
and because this change is not expected to have any impact on the
Group's current trading, teams or customer and supplier
relationships. As a result, resolution 4
(to re-elect Richard Law as a Director) as set out in the notice of
today's Annual General Meeting has been withdrawn by the
Company.
Due to their existing external
commitments, the Board's three continuing independent Non-Executive
Directors have asked the Group CEO, Chris Lee, to take a short-term
interim Chair role alongside his current duties until a new
independent Non-Executive Chair is appointed, the search for which
is underway. The Board recognises the importance of an independent
Non-Executive Chair and will seek to ensure that the separation of
Chair and CEO roles is resumed as soon as possible. There will be
no change to Chris' remuneration or other terms of employment
during this short-term period and we will update on the progress of
the independent Non-Executive Chair search in future market
updates.
The Board would like to thank
Richard for his input and counsel and for supporting the teams in
developing and implementing the Group's strategies and growth plans
since its IPO in 2019. The remaining independent Non-Executive
Directors would also like to thank Chris for agreeing to step in as
interim Chair until a permanent independent Non-Executive Chair is
appointed.
Richard Law commented: "I would like
to thank the Board and teams across our businesses globally for
their help and support over my last four years as Chair. I have
particularly enjoyed visiting our sites in the USA and UK, to build
an understanding of our businesses and see what a great job our
people do day-to-day. During that time, our teams of talented
people have developed Facilisgroup and Brand Addition into strongly
differentiated propositions with significant future potential,
through a focus on technology, sustainability and building deep and
trusted relationships with customers and other key stakeholders. I
wish The Pebble Group and its people every success in continuing to
grow."
Chris Lee, CEO of The Pebble Group
commented: "We thank Richard for his counsel and support during his
time with The Pebble Group and wish him well. The Board is looking
forward to recruiting a new Chair to support value creation for our
shareholders."
Enquiries:
The
Pebble Group
Chris Lee, Chief Executive
Officer
Claire Thomson, Chief Financial
Officer
+44 (0) 750 012 4121
|
Temple Bar Advisory (Financial
PR)
Alex Child-Villiers
Sam Livingstone
+44 (0) 207 183 1190
pebble@templebaradvisory.com
|
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke /
Ciara Donnelly
+44 (0) 207 184 4384
|
Berenberg (Corporate
Broker)
Ben Wright / Mark Whitmore / Richard
Andrews
+44 (0) 203 207 7800
|
About The Pebble Group
The Pebble Group is a provider of
digital commerce, products and related services to the global
promotional products industry, comprising two differentiated
businesses, Facilisgroup and Brand Addition, focused on specific
areas of the promotional products market. For further information,
please visit www.thepebblegroup.com.