Loungers PLC Board Changes (9318D)

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RNS Number : 9318D

Loungers PLC

01 July 2019

Loungers plc

("Loungers" or the "Company")

Board Changes

Loungers, the operator of 150 café / bar / restaurants across England and Wales which trade under the Lounge and Cosy Club brands, announces that Robert Darwent has been appointed to the Company's board of directors (the "Board") as a Non-Executive Director with immediate effect.

Robert, a founding partner and member of the investment committee at Lion Capital LLP ("Lion"), replaces James Cocker as Lion's Board representative following James's departure from Lion. As a result, James Cocker has resigned from the Board with immediate effect.

The Board would like to place on record its thanks to James for his contribution to the growth of the Company since Lion first invested in 2016 and to wish him well in his future endeavours.

Funds managed by Lion are interested in 38.63 per cent. of the issued ordinary share capital of the Company. Robert Darwent is not considered by the Board to be an independent director.

For further information please contact:

 
 Loungers plc                                        Via Instinctif Partners 
  Nick Collins, Chief Executive Officer 
  Gregor Grant, Chief Financial Officer 
  GCA Altium Limited (Financial Adviser            Tel: [phone] 
   and NOMAD) 
   Sam Fuller / Katherine Hobbs / Tim Richardson 
  Liberum Capital Limited (Joint Broker)           Tel: [phone] 
   Clayton Bush / Andrew Godber / John 
   Fishley 
  Peel Hunt LLP (Joint Broker)                      Tel: [phone] 
   Dan Webster /George Sellar 
 
 Instinctif Partners (Financial Public             Tel: [phone] 
  Relations) 
  Justine Warren / Matthew Smallwood 
 

Additional information on Robert Darwent, Non-Executive Director

Robert Darwent, aged 46, has held the following directorships or been a partner in the following partnerships within the last five years:

 
 Current Directorships / Partnerships   Previous Directorships / Partnerships 
                                         (last five years) 
 Lion Capital LLP 
 Cottesmore Partners LLP                Loungers UK Limited 
 Spence Diamonds Holdings Limited       Loungers Holdings Limited 
 Authentic Brands Group LLC             Hema B.V. 
 Lenny & Larry's LLC                    Dutch Lion B.V. 
 GRNA Holdings Inc.                     Lion Adventure Cooperatief U.A. 
  Marlin 1 Limited                       Lion Adventure Holdings B.V. 
 Leo Holdings Corp.                     Latimer Newco 2 Limited (dissolved) 
 Blow Limited 
 Integrated Health Partners Limited 
 Lion Capital General Partner 
  LLP 
 Lion Capital General Partner 
  II LLP 
 Lion Capital General Partner 
  III LLP 
 Lion Capital Carry L.P. 
 Lion Capital Carry II L.P. 
 Lion Capital Carry III L.P. 
 Lion Capital Fund IV L.P. 
 Lion Capital Fund II SBS, L.P. 
 Lion Capital Fund III SBS, L.P. 
 Lion Capital Fund III SBS (USD) 
  L.P. 
 Lion Capital Fund IV SBS, L.P. 
 Lion Capital Fund IV SBS (USD) 
  L.P. 
 Lion Capital Ventures L.P. 
 

Robert Darwent was a director of La Senza Limited when it was placed into receivership on 10 January 2012. Secured creditors and preferential creditors were repaid in full. The shortfall to unsecured creditors was GBP23,779,533.

Save as disclosed above, Robert Darwent has confirmed that there are no further details to be disclosed pursuant to Schedule Two Paragraph (g) of the AIM Rules for Companies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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July 01, 2019 02:01 ET (06:01 GMT)