Restore PLC AGM Statement and Appointment of CFO (6231Z)

TIDMRST

RNS Number : 6231Z

Restore PLC

21 May 2019

21 May 2019

Restore plc

AGM Statement and Appointment of Chief Financial Officer

Restore plc (AIM: RST), the UK leader in document management and business relocation services, today issues a trading update ahead of its Annual General Meeting to be held later today.

Trading for the first quarter was in line with the Board's expectations.

The core records management business has continued its positive momentum, resulting in net box volume growth in Q1. Restore Digital, the scanning business, is trading as anticipated and gearing up for the delivery of its major exam scanning contract. Operating performance in Restore Datashred has remained stable, with a continued focus on tight cost control, whilst customer retention and new business development have been encouraging. Trading in the Relocation Division, comprising Restore Harrow Green and Restore Technology (IT lifecycle services), has been satisfactory and consistent with prior year levels.

Accordingly, the Board's expectations for the full year remain unchanged, including planned reductions in net bank debt levels, and look forward to delivering another year of progress in 2019.

The Board is pleased to announce the appointment of Neil Ritchie as Chief Financial Officer. Neil is currently Chief Financial Officer of AIM-listed Mulberry Group plc and prior to this spent 14 years with the technology business Dyson, where he held a variety of commercial and finance roles. Neil replaces Adam Councell who, as previously announced, is stepping down from the Board in August. Neil will serve on the Board as an Executive Director, reporting to CEO Charles Bligh effective from 1 October 2019.

Martin Towers, Chairman, commented:

"I am delighted that Neil will be joining Restore as CFO. He brings a wealth of experience in high growth and listed businesses and will be an excellent addition to the leadership team."

Neil Ritchie commented:

"I am delighted to be joining Restore, a high quality business with a sustained track record of growth and a strong financial position. It's an exciting time to join and I look forward to working with the Board and the team to build the Group further from this great foundation."

The Group's Half Year results will be released on 31 July 2019.

For further information please contact:

Restore plc www.restoreplc.com

   Charles Bligh, Chief Executive Officer                                    020 7409 2420 

Adam Councell, Group Finance Director

Peel Hunt LLP www.peelhunt.com

Mike Bell 020 7418 8900

Guy Wiehahn

Ed Allsopp

FTI Consulting www.fticonsulting.com

Nick Hasell 020 3727 1340

Alex Le May

Disclosures required by Schedule 2(g) of the AIM Rules for Companies

Neil James Ritchie (age 48)

 
 Current directorships                  Directorships held in the last 
                                         five years 
-------------------------------------  ------------------------------- 
 Fashion AZ Limited                     None 
 KCS Investments Limited 
 Mulberry (Asia) Limited 
 Mulberry (Asia) Limited (Taiwan 
  branch) 
 Mulberry (UK) Limited 
 Mulberry Co (France) SARL 
 Mulberry Co (Sales) Ltd (Irish 
  branch) 
 Mulberry Co (Sales) Ltd (Netherlands 
  branch) 
 Mulberry Company (Australia) 
  Pty Ltd 
 Mulberry Company (Austria) 
  GmbH 
 Mulberry Company (Canada) 
  Inc. 
 Mulberry Company (Design) 
  Limited 
 Mulberry Company (Europe) 
  Limited 
 Mulberry Company (Germany) 
  GmbH 
 Mulberry Company (Holdings) 
  Limited 
 Mulberry Company (Sales) 
  Limited 
 Mulberry Company (Shoes) 
  Limited 
 Mulberry Company (Switzerland) 
  GmbH 
 Mulberry Company (USA) Inc. 
 Mulberry Fashions Limited 
 Mulberry France Services 
  SARL 
 Mulberry Group Holding Company 
  Limited 
 Mulberry Group plc 
 Mulberry Japan Co. Limited 
 Mulberry Korea Co. Ltd 
 Mulberry Leathers Limited 
 Mulberry Trading (Shanghai) 
  Company Limited 
 Mulberry Trading Holding 
  Company Limited 
 

Save as set out above, there are no further disclosures required pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Mr Ritchie's appointment to the Board.

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

AGMFMGZKRGNGLZM

(END) Dow Jones Newswires

May 21, 2019 02:01 ET (06:01 GMT)