Orchard Funding Group PLC Directorate Change (2161V)

TIDMORCH

RNS Number : 2161V

Orchard Funding Group PLC

01 November 2017

Orchard Funding Group PLC

("Orchard Funding Group" or the "Company")

Directorate Change

Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce the appointment of Gary Jennison as Chairman of the Company, effective immediately.

Mr Jennison will replace the current Chairman, David Clark who, after serving the Board since July 2015, has decided to pursue other opportunities.

Mr Jennison has 39 years of retail banking and financial services experience. Until February 2017, he served as the Chief Executive Officer of European Business Operations at The Warranty Group, where he played an integral role in taking the business onto a growth platform of increasing revenue and profits. His expertise in the financial services industry is further evidenced through his roles at non-standard mortgage lender Jerrold Holdings Limited, where he served as Deputy Chief Executive Officer for a period of 2 years. Mr Jennison joined Jerrold Holdings from Payzone, where he was the UK managing director for two and a half years. Prior to that, he held the role of Chief Executive Officer of Secure Trust Bank and was a director of Arbuthnot Banking Group plc for 4 years. Prior to this, he was at Barclays Bank for 4 years where he oversaw 2,000 bank branches and 21,000 employees when he was Managing Director of the UK Branch Network of Barclays. With CEO appointments in three companies since 2006, Mr Jennison has a proven track record of delivering sales growth across a range of sub-sectors within the financial industry.

Ravi Takhar, Chief Executive Officer of Orchard Funding Group, commented:

"I am very pleased to welcome Gary to the Board. His knowledge of the financial sector, specifically within the specialist finance market, will undoubtedly provide invaluable contributions to the Company, and we as a Board look forward to working with him."

"I would like to thank David for his contributions to the Board throughout his tenure and we wish him well going forward."

The following information regarding the appointment of Gary Antony Jennison, aged 60, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

 
 Current directorships                       Former directorships and/or 
  and/or partnerships:                        partnerships (within the 
                                              last five years): 
 
        *    Solutions Consultants Limited     *    Auction Finance Limited 
 
 
                                               *    Blemain Finance Limited 
 
 
                                               *    Briar Hill Court Limited 
 
 
                                               *    Bridging Finance Limited 
 
 
                                                 *    Bridgingfinance.co.uk Limited 
 
                                                 *    Classic Car Finance Limited 
 
                                               *    Factfocus Limited 
 
 
                                                 *    Finance Your Property Limited 
 
                                                 *    General Allied Properties Limited 
 
                                               *    Harpmanor Limited 
 
 
                                               *    Heywood Finance Limited 
 
 
                                               *    Heywood Leasing Limited 
 
 
                                               *    Jerrold Finco PLC 
 
 
                                               *    Jerrold Holdings Limited 
 
 
                                                 *    Jerrold Mortgage Corporation Limited 
 
                                                 *    London General Insurance Company Limited 
 
                                                 *    London General Life Company Limited 
 
                                               *    Monarch Recoveries Limited 
 
 
                                               *    Payzone UK Limited 
 
 
                                               *    Phone-A-Loan Limited 
 
 
                                               *    Privileged Estates Limited 
 
 
                                               *    Proactive Bridging Limited 
 
 
                                               *    Proactive Lending Limited 
 
 
                                                 *    Provincial & Northern Properties Limited 
 
                                               *    Spot Finance Limited 
 
 
                                               *    Step Change Limited 
 
 
                                               *    Supashow Limited 
 
 
                                                 *    Together Commercial Finance Limited 
 
                                                 *    Together Financial Services Limited 
 
                                                 *    Together Personal Finance Limited 
 
                                               *    TWG Europe Limited 
 
 
                                               *    TWG Services Limited 
 

As at the date of this announcement, Mr Jennison does not have any interest in the ordinary shares of the Company.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.

For further information:

Orchard Funding Group PLC [phone]

Ravi Takhar, Chief Executive Officer

finnCap Limited (Nomad and Broker) [phone]

Jonny Franklin-Adams (Corporate Finance)

Emily Watts (Corporate Finance)

For Investor Relations please go to: www.orchardfundinggroupplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 01, 2017 03:00 ET (07:00 GMT)