Appreciate Group PLC Board Update (2955X)

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RNS Number : 2955X

Appreciate Group PLC

26 August 2022

26 August 2022

Appreciate Group plc

Board Update

Interim CEO appointed

Appreciate Group (the 'Group'), the UK's leading multi-retailer redemption product provider to Corporate and Consumer markets, today announces the appointment to the Board of Julian Coghlan as Interim Chief Executive Officer ('Interim CEO') reporting to the Executive Chairman, Guy Parsons.

Julian is the Group's current Chief Commercial Officer, having joined the business in August 2017, initially as Group Operations Director. Prior to this, he held senior executive roles in commercial functions at Adare Group, the customer communications services group, for 14 years. He is also a regional councillor of the CBI.

As Interim CEO, Julian will be responsible for all the Group's day to day commercial, operational, IT and HR functions across the business (including sales and marketing), with a focus on driving revenues in line with the Group's financial targets. Guy Parsons, as Executive Chairman, will retain direct responsibility for the Group Finance, Legal & Compliance teams as well as strategic and governance matters.

The process to recruit long term appointees for the roles of CEO and CFO is progressing well with an encouraging pool of high calibre candidates being interviewed. Further announcements will be made as and when appropriate.

Reappointment of John Gittins and Sally Cabrini

The Group is pleased to announce that John Gittins and Sally Cabrini have agreed to continue as Non-Executive Directors for two and three years respectively, to ensure Board level continuity whilst the Group's leadership team is going through this period of evolution.

Guy Parsons, Executive Chairman commented:

"Following this appointment of an Interim CEO, I believe we have a strong team in place to manage the business day to day and deliver on our expectations for the year, whilst continuing to focus on the Group's medium-term strategy to drive sustainable growth. I am encouraged by the quality of candidates I have seen for the permanent roles and look forward to updating on those appointments in due course."

AIM Rules Schedule 2(g) disclosures for Julian Graham Coghlan

Mr Julian Graham Coghlan's (aged 52) directorships in the last five years are as follows:

 
 Current Directorships                  Previous Directorships 
 MBL HOLDCO LTD 
                                       ----------------------- 
 MBL SOLUTIONS LIMITED 
                                       ----------------------- 
 GORSEWOOD PROPERTY MANAGEMENT 
  LTD 
                                       ----------------------- 
 THE CHRISTMAS PREPAYMENT ASSOCIATION 
  LIMITED 
                                       ----------------------- 
 

Mr. Coghlan holds options over 771,990 ordinary shares of 2p ("Ordinary Shares") each under the following Appreciate Group plc share schemes:

 
 Share scheme                          Number of options over   Average exercise 
                                        Ordinary Shares          price 
 2021 Appreciate Group plc Incentive   771,990                  GBP0.00 (nil cost 
  Plan                                                           option) 
                                      -----------------------  ------------------ 
 Total                                 771,990                  GBP0.00 (nil cost 
                                                                 option) 
                                      -----------------------  ------------------ 
 

There are no further disclosures required in accordance with Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

 
 Appreciate Group         Liberum                MHP Communications 
  plc                      (NOMAD and broker) 
 Guy Parsons, Executive   Richard Crawley        Reg Hoare 
  Chairman                 Jamie Richards         Katie Hunt 
                                                  Charles Hirst 
 Andy Hammerton, Head 
  of Corporate Affairs      Tel: [phone]     Tel: [phone] 
                                                   Email: [e-mail] 
  Tel: [phone] 
 

Notes to Editors:

Appreciate Group is one of the UK's leading gifting, pre-payment and engagement companies, and experts at creating joyful experiences and connecting people to the things in life they enjoy the most.

Everything Appreciate Group does is focused on creating more joy in the world, and it is proud to be trusted to help its customers create moments they can treasure and remember, whether they are giving, celebrating or rewarding.

Appreciate Group is a financial services business with a wide portfolio of brands which provide solutions for its consumer and corporate customers. Its consumer-facing brands meet a range of prepayment and gifting needs, while its business products help corporate customers reward and recognise their employees and clients.

Appreciate Group is home to many of the country's most-loved gifting, pre-payment and engagement solutions including Park Christmas Savings, highstreetvouchers.com, Appreciate Business Services and Love2shop, and we are fast-becoming the home of digital innovation in gifting.

Whether it's saving towards the perfect family Christmas or celebrating with gift cards and vouchers, we create and supply products that millions of people trust when it comes to giving and receiving with family, friends or colleagues.

Park Christmas Savings: As the UK's largest family Christmas savings club, Park Christmas Savings helps around three hundred thousand families budget for Christmas on a short-term or year-round basis.

Love2shop: Love2shop offers gift cards and gift vouchers available to spend at stores and attractions across the UK. They are also used through Appreciate Business Services providing corporate partners with incentives and rewards for their employees and clients.

Appreciate Group plc's shares are traded on AIM, a market operated by the London Stock Exchange.

The Park Prepayments Protection Trust is designed to increase protection for customers' prepayments. The Trust has three directors, two of whom are independent of Appreciate. Details of the trust are set out here: https://www.getpark.co.uk/CORPORATE/declaration.pdf

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August 26, 2022 02:00 ET (06:00 GMT)