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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 | 0.00% | 50.75 | 50.00 | 51.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAPP
RNS Number : 4020S
Appreciate Group PLC
14 July 2022
The information contained within this announcement is deemed by Appreciate Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
14 July 2022
Appreciate Group PLC
("Appreciate Group" or the "Company" or the "Group")
Directorate Change
Appreciate Group, the UK's leading multi-retailer redemption product provider to corporate and consumer markets, today announces that Ian O'Doherty, its Chief Executive Officer (CEO) will be stepping down from his position and the Board to pursue other interests . Ian will leave the Group at the end of July 2022 and will remain available to advise the Group until January 2023, with Guy Parsons, Chair becoming Executive Chair in the interim to ensure a smooth transition, as the Group commences its search for a new CEO.
Ian joined the Group on 1 February 2018 and led the Group through a significant period of business transformation, including the implementation of its ongoing strategic business plan, and navigating the disruption of the pandemic . This has included simplifying and streamlining the business, moving to new offices in Liverpool, and the disposal of non-core activities. Having completed this stage of the Group's transformation, now is the appropriate time for Ian to step down and for new leadership to be appointed for the next stage of the Group's growth strategy.
The Board is confident that the business will operate normally under the leadership of the Executive Chair whilst a new CEO is recruited , and that the Group has strong executive and divisional management teams, as evidenced by the internal appointment on 6 July 2022 of Talha Ahmed as Interim Chief Financial Officer. Further updates will be made in due course.
Guy Parsons, Chair of Appreciate Group said:
"I would like to thank Ian for his significant contribution to the Group's transformation of recent years and successfully navigating it through the disruption of the pandemic. We look forward to announcing new executive board appointments in due course. The business is in good shape and I am confident we will move purposefully to achieve our long term goals as we progress our digitally led growth strategy. "
Ian O'Doherty, Chief Executive Officer of Appreciate Group said:
"It has been a privilege to serve as CEO of Appreciate Group. I am grateful to all my colleagues for their great efforts to successfully transform this business and position it for growth. I have every confidence that they will be equally successful going forward, and I wish them every good fortune."
Appreciate Group Liberum MHP Communications plc (NOMAD and broker) Guy Parsons, Chair Richard Crawley Reg Hoare Andy Hammerton, Head Jamie Richards Katie Hunt of Corporate Affairs Charles Hirst Tel: 0151 653 1700 Tel: 020 3100 2222 Tel: 020 3128 8193 Email: appreciategroup@mhpc.com
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, highstreetvouchers.com 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: https://www.getpark.co.uk/CORPORATE/declaration.pdf
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(END) Dow Jones Newswires
July 14, 2022 02:00 ET (06:00 GMT)
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