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Share Name Share Symbol Market Type Share ISIN Share Description
Nichols Plc LSE:NICL London Ordinary Share GB0006389398 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  40.00 3.81% 1,090.00 1,090.00 1,115.00 1,140.00 1,095.00 1,115.00 63,699 16:35:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Beverages 147.0 32.4 72.8 15.0 402

Nichols PLC Directorate Change and Relationship Agreement

22/07/2020 7:01am

UK Regulatory (RNS & others)


Nichols (LSE:NICL)
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RNS Number : 6834T

Nichols PLC

22 July 2020

Nichols plc

(the "Company" or "Group')

Directorate Change and Relationship Agreement

Nichols plc (the 'Company'), the soft drinks Group, is pleased to announce the appointment of James Nichols to the Board as a Non-Executive Director with immediate effect.

James currently holds the position of Commercial Controller at Vimto Out of Home and has worked within the business for 16 years. James is appointed as a representative of the Nichols Family pursuant to a Relationship Agreement which has today been entered into between the Company and the Nichols Family. The Nichols Family consist of certain members of the immediate and extended family of the Company's founder John Noel Nichols. Members of the Nichols Family hold in aggregate an interest of approximately 34.7% in the Company's issued share capital.

The purpose of the Relationship Agreement is to formalise Board representation for the Nichols Family whilst also ensuring that the Company is capable of carrying on, at all times, its business independently. In accordance with the terms of the Relationship Agreement, for so long as the Nichols Family retain (i) an aggregate interest of equal to or greater than 20 per cent in the issued ordinary share capital of the Company, they shall be entitled (but not required) to appoint one Non-Executive Director; and (ii) an aggregate interest of equal to or greater than 30 per cent in the issued ordinary share capital of the Company, they shall be entitled (but not required) to appoint one further Non-Executive Director to the Board. In accordance with the Relationship Agreement John Nichols, the Chairman of the Company and father of James Nichols, is also nominated as a Family Representative Director.

The Relationship Agreement will terminate if the Ordinary Shares cease to be admitted to trading on AIM or the Nichols Family cease to retain an aggregate interest of 20 per cent or more of the issued ordinary share capital of the Company.

The following disclosures are required regarding James Nichols' appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies ("AIM Rules"):

Full name: James Edward Nichols

Age: 39

Current directorships:

   --    The Noisy Drink Company North West Limited 
   --    JMKN LLP 
   --    Nichols Ventures Limited 
   --    Nichols 3N Limited 
   --    Nichols Estates Limited 
   --    Pennies Limited 
   --    The Pennies Group Limited 
   --    Nichols Overseas Limited 
   --    Llanbedrog Headland Company Limited 
   --    PDT North West Limited 

Previous directorships in the last 5 years:

   --    None 

Save as set out above, there is no further information to be disclosed in respect of Mr James Nichols under Schedule 2(g) of the AIM Rules.

Contacts

 
 
 Marnie Millard, Group Chief Executive Officer 
  Andrew Milne, Group Chief Operating Officer 
  David Rattigan, Group Chief Financial Officer 
 Nichols plc 
 Telephone: 0192 522 2222 
 Website: www.nicholsplc.co.uk 
 
 Alex Brennan / Hattie Dreyfus      Steve Pearce / Rachel Hayes 
 Hudson Sandler                     N+1 Singer (Nominated Adviser) 
 Telephone: 0207 796 4133           Telephone: 0207 496 3000 
 Email: nichols@hudsonsandler.com   Website: www.n1singer.com 
 

Notes to Editors:

Nichols plc is an international soft drinks business with sales in over 85 countries, selling products in both the Still and Carbonate categories. The Group is home to the iconic Vimto brand which is popular in the UK and around the world, particularly in the Middle East and Africa. Other brands in its portfolio include Feel Good, Starslush, ICEE, Levi Roots and Sunkist.

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 rns@lseg.com or visit www.rns.com.

END

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July 22, 2020 02:01 ET (06:01 GMT)

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