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Share Name Share Symbol Market Type Share ISIN Share Description
Appreciate Group Plc LSE:PARK London Ordinary Share GB0006710643 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 50.75 50.00 51.50 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 110.4 11.3 4.8 10.6 95

Appreciate Group PLC Appointment of Chairman Designate

23/03/2022 7:00am

UK Regulatory (RNS & others)

Appreciate (LSE:PARK)
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RNS Number : 6659F

Appreciate Group PLC

23 March 2022

23 March 2022

Appreciate Group PLC

("Appreciate Group" or the "Company" or the "Group")

Appointment of Chairman Designate

Appreciate Group, the UK's leading multi-retailer redemption product provider to corporate and consumer markets, is pleased to announce that, following a comprehensive external selection process, it has appointed Guy Parsons as independent non-executive director and Chairman-designate.

Guy joined the Board on 22 March 2022 and will succeed Laura Carstensen as the Company Chairman from 1 April 2022, when Laura will stand down, having announced her intention to do so at the time of the company's AGM in September 2021, following almost nine years' service on the Board .

Guy Parsons brings a wealth of experience to Appreciate Group, having held several non-executive and chairman positions, and senior executive roles, including at Chief Executive level. He is currently a Non-executive Director and the remuneration committee chair at Yorkshire Building Society, and chair at online sofa retailer, Snug. Guy will be stepping down from his role at Yorkshire Building Society at their AGM in April, having been a director for nine years. He previously held CEO positions at easyHotel plc and Travelodge.

Ian O'Doherty, Chief Executive Officer, at Appreciate Group said:

"We are delighted to announce Guy's appointment as Chairman. He joins us at an important time for the Group and brings strong board and executive experience. Guy's non-executive and finance-regulated background, combined with his track record of delivering digital strategies in consumer businesses, will be invaluable in the next stage of our growth strategy. I look forward to working with him.

"I would also like to again thank Laura for the contribution she has made to Appreciate Group for almost nine years, over five of which were as Chairman. She has helped steer the business through a period of transformation as well as the unprecedented challenges brought by the pandemic."

Guy Parsons said:

"I am excited to be joining the team at Appreciate Group, a business with a strong customer and consumer proposition and a compelling growth opportunity. I look forward to supporting the Board and management team to leverage the progress made to modernise the business and build on the strong foundations it has for future digital growth."

AIM Rules Schedule 2(g) disclosures for Guy Paul Cuthbert Parsons

Mr Guy Paul Cuthbert Parsons (aged 58) directorships in the last five years are as follows:

 Current Directorships        Previous Directorships 
                              EASYHOTEL UK LIMITED 
                              EASYHOTEL PLC 

The Travelodge group of companies undertook a financial restructuring in conjunction with a company voluntary arrangement approved by creditors in October 2012 (after Guy Parsons had left the group in April 2012). Key terms of the financial restructuring included GBP75m of new shareholder equity injected into the business, bank debt of GBP233m was written off and GBP71m repaid, loan notes of GBP476m were written off and the repayment date of the remaining debt was extended to 2017 and the rate of interest was reduced. As part of the arrangements, the following companies, which Guy Parsons was a director of within twelve months of the arrangements, were solvently liquidated: Endell Group Holdings Limited, Full Moon HoldCo 2 Limited, Full Moon HoldCo 3 Limited, Full Moon HoldCo 3A Limited, TLLC Prop Hold Co 2 Limited and TLLC Spareco Limited.

Mr. Parsons does not currently own any securities in the Company.

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) 
 Ian O'Doherty, CEO      Richard Crawley        Reg Hoare 
  Tim Clancy, CFO         Jamie Richards         Katie Hunt 
                                                 Charles Hirst 
 Andy Hammerton, Head 
  of Corporate Affairs     Tel: 020 3100 2222     Tel: 020 3128 8193 
  Tel: 0151 653 1700 

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 business 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, 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 has helped over 2.7 million 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 our Love2shop 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:

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(END) Dow Jones Newswires

March 23, 2022 03:00 ET (07:00 GMT)

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