Nichols PLC Directorate Change and Relationship Agreement (6834T)
July 22 2020 - 1:01AM
UK Regulatory
TIDMNICL
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.
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contact rns@lseg.com or visit www.rns.com.
END
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