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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ultimate Sports Group Plc | LSE:USG | London | Ordinary Share | GB00BYV31355 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 27.50 | 27.00 | 28.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUSG
RNS Number : 6019H
Ultimate Sports Group PLC
02 August 2019
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
2 August 2019
Ultimate Sports Group PLC
("USG" or the "Company")
Appointment of Chief Executive Officer and
Director Resignation
Ultimate Sports Group PLC, the AIM listed investment vehicle, is pleased to announce the appointment of Matthew Farnum-Schneider as Chief Executive Officer ("CEO") with effect from 1 August 2019.
Matthew Farnum-Schneider, aged 45, is an experienced senior executive, having most recently been a Managing Director and Senior Adviser to the CEO at Credit Suisse between 2015-2019, prior to which he was Managing Director at the Chief Executive Office of Prudential PLC between 2014-2015. Between 2012-2013, Matthew was Director of International Economics of the White House National Security Council, prior to which, he was appointed by the White House to manage the US government's development finance institution, the Overseas Private Investment Corporation (OPIC).
Matthew Farnum-Schneider said: "I am delighted to be joining USG as CEO and look forward to providing more details on our strategy for the business in the coming months."
Commenting on the appointment, Executive Chairman, Richard Owen said: "I am very pleased that someone the calibre of Matthew will be joining USG as CEO and has committed himself to spearhead the corporate development of the Group."
Information disclosable under Schedule Two paragraph (g) of the AIM Rules
Matthew Farnum-Schneider does not hold any shares. However, as part of his compensation package, the Company will grant Matthew options over up to 4,000,000 ordinary shares in the Company ("Shares") as follows:
Vesting period No. options Exercise price ------------------------------ ------------ ------------------- 1 February 2020 to 31 January 666,666 20 pence per Share 2023 1 August 2020 to 31 July 2023 333,334 20 pence per Share 1 August 2020 to 31 July 2023 333,332 40 pence per Share 1 February 2021 to 31 January 666,668 40 pence per Share 2024 1 August 2021 to 31 July 2024 666,666 60 pence per Share 1 February 2022 to 31 January 666,666 60 pence per Share 2025 1 August 2022 to 31 July 2025 666,668 60 pence per Share
If Matthew ceases to be employed as an employee or officer of the Company, options that are yet to vest will lapse and options that have vested may be exercised for a period of 30 days following the date Matthew ceases to be an employee or officer of the Company.In the five years preceding the date of this announcement, he held the following directorships or partnerships:
Current directorships or partnerships Past directorships or partnerships -------------------------------------- ----------------------------------- - Global Infrastructure Investor Association
Separately, and after serving as a director of USG since jointly founding the business in 1999, Geoffrey Simmonds, Executive Director, has informed the Board of his desire to retire from the Board with immediate effect.
Commenting on Geoffrey's resignation, Richard Owen said: "On behalf of the Board, my sincere thanks go to Geoffrey for his substantial help over many years, and we wish him and his family the very best for the future."
* * ENDS * *
For further information, please visit www.ultimatesportsgroup.me or contact:
Ultimate Sports Group PLC Richard Owen (Executive Chairman) +44 (0)7721 613613 St Brides (Financial PR) Catherine Leftley, Gaby Jenner +44 (0)20 7236 1177 Cantor Fitzgerald Europe (Nomad and Broker) David Foreman, Michael Boot +44 (0)20 7894 7000
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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August 02, 2019 02:01 ET (06:01 GMT)
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