REG - Pebble Group (The) - Directorate Change

PebbleAnnouncement

30/04/2024 07:00

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RNS Number : 4973M  Pebble Group PLC (The)  30 April 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

 

 

30 April 2024

THE PEBBLE GROUP PLC

("The Pebble Group" or the "Group")

 

Directorate Change

 

The Pebble Group (AIM: PEBB, OTCQX: PEBBF), a leading provider of digital
commerce, products and related services to the global promotional products
industry, announces changes to its Board of Directors.

 

As a consequence of his growing private sector business commitments, Richard
Law has resigned as Chair and as a Non-Executive Director of the Group. The
Board is comfortable in accepting this resignation with immediate effect
because it is confident that the number, depth of experience and commitment of
the continuing Directors is strong, and because this change is not expected to
have any impact on the Group's current trading, teams or customer and supplier
relationships. As a result, resolution 4 (to re-elect Richard Law as a
Director) as set out in the notice of today's Annual General Meeting has been
withdrawn by the Company.

 

Due to their existing external commitments, the Board's three continuing
independent Non-Executive Directors have asked the Group CEO, Chris Lee, to
take a short-term interim Chair role alongside his current duties until a new
independent Non-Executive Chair is appointed, the search for which is
underway. The Board recognises the importance of an independent Non-Executive
Chair and will seek to ensure that the separation of Chair and CEO roles is
resumed as soon as possible. There will be no change to Chris' remuneration or
other terms of employment during this short-term period and we will update on
the progress of the independent Non-Executive Chair search in future market
updates.

 

The Board would like to thank Richard for his input and counsel and for
supporting the teams in developing and implementing the Group's strategies and
growth plans since its IPO in 2019. The remaining independent Non-Executive
Directors would also like to thank Chris for agreeing to step in as interim
Chair until a permanent independent Non-Executive Chair is appointed.

 

Richard Law commented: "I would like to thank the Board and teams across our
businesses globally for their help and support over my last four years as
Chair. I have particularly enjoyed visiting our sites in the USA and UK, to
build an understanding of our businesses and see what a great job our people
do day-to-day. During that time, our teams of talented people have developed
Facilisgroup and Brand Addition into strongly differentiated propositions with
significant future potential, through a focus on technology, sustainability
and building deep and trusted relationships with customers and other key
stakeholders. I wish The Pebble Group and its people every success in
continuing to grow."

 

Chris Lee, CEO of The Pebble Group commented: "We thank Richard for his
counsel and support during his time with The Pebble Group and wish him well.
The Board is looking forward to recruiting a new Chair to support value
creation for our shareholders."

 

 

Enquiries:

 

 The Pebble Group                                       Temple Bar Advisory (Financial PR)

 Chris Lee, Chief Executive Officer                     Alex Child-Villiers

 Claire Thomson, Chief Financial Officer                Sam Livingstone

 +44 (0) 750 012 4121                                   +44 (0) 207 183 1190

                                                        pebble@templebaradvisory.com (mailto:pebble@templebaradvisory.com)

 Grant Thornton UK LLP (Nominated Adviser)              Berenberg (Corporate Broker)

 Samantha Harrison / Harrison Clarke / Ciara Donnelly   Ben Wright / Mark Whitmore / Richard Andrews

 +44 (0) 207 184 4384                                   +44 (0) 203 207 7800

 

About The Pebble Group

 

The Pebble Group is a provider of digital commerce, products and related
services to the global promotional products industry, comprising two
differentiated businesses, Facilisgroup and Brand Addition, focused on
specific areas of the promotional products market. For further information,
please visit www.thepebblegroup.com (http://www.thepebblegroup.com/) .

 

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