This announcement contains inside information
for the purposes of the retained UK version of the EU Market Abuse
Regulation (EU) 596/2014 ("UK MAR").
Chapel Down Group Plc
('CDG' or 'the
Company')
EPIC: CDGP
CHIEF EXECUTIVE OFFICER APPOINTMENT,
DIRECTORATE CHANGES AND OUTLOOK
Chief Executive
Officer Appointment
The Board of Chapel Down is delighted to
announce the appointment of James Pennefather as Chief Executive
Officer and Director of Chapel Down, with James to commence his new
role on 1st February 2025. James has worked in the
premium drinks industry for over 25 years and was most recently CEO
of The Lakes Distillery Company PLC, where he led the business's
successful sale to The Nyetimber Group earlier this year. Prior to
that, James held a number of senior leadership roles at William
Grant & Sons and Diageo across the UK, Middle East, Africa and
India.
Martin Glenn, Chairman of Chapel Down Group,
commented: "We are delighted to have appointed James, who is an
outstanding business leader with deep experience in building
premium drinks brands within emerging categories, developing strong
customer relationships in the UK and globally and enhancing
shareholder value. Chapel Down has made excellent progress as a
business and a brand, and James is well placed to continue Chapel
Down's development and growth."
James Pennefather said: "I am excited to be
joining Chapel Down at such an important time in the Company's
growth story. Chapel Down is the leading English winemaker and I
look forward to leading the business as it pursues the next stage
of transformational growth for customers and shareholders. Andrew
leaves a strong legacy and I will be working closely with him and
the Chapel Down management team to ensure a seamless
transition."
Directorate
Changes
Chapel Down additionally announces that the
Board has accepted the resignation of Rob Smith as Chief Financial
Officer and Director.
Rob has made a significant positive impact on
Chapel Down since joining in September 2022, playing a major role
in refocusing the Company on being the leading and most celebrated
winemaker in the UK. He has been instrumental in many strategic
achievements including creating a single, cloud-enabled technology
and data platform for the business covering Sales, CRM and ERP and
the Company's successful admission to AIM in December 2023. In
addition, he has supported Andrew Carter, CEO, in creating a strong
business culture and a high-performance finance team with a focus
on controls and providing data driven insight to the
Company.
Rob will continue as a Director and lead Finance
until the publication of the full year results around April 2025.
The recruitment for his successor will commence shortly, led by the
Chair and new CEO James Pennefather.
Finally, following three years of service as a
Non-Executive Director of Chapel Down, Stewart Gilliland has
resigned his position on the Board. The Board would like to thank
him for his extensive and insightful contribution to the
business.
Outlook
The Chapel Down Board has great confidence in
the continued growth of the English wine region and Chapel Down's
continued leadership within the industry, underpinned by the
quality of its traditional method Sparkling English wines. Chapel
Down continues to build on its strong brand leadership position,
supported by its 1,024 acres of high-quality vineyards, the
industry's broadest UK distribution and a growing international
opportunity.
The company confirms that the 2024 Harvest has
been successfully completed and is in line with previously
announced tonnage and with an excellent vintage quality. The
Company further confirms that trading in the important final
quarter of the year has been strong. The Company's full year
position remains in line with management expectations, with the
business carrying positive momentum into the new calendar year. A
trading statement will be issued in the second half of January in
accordance with the Company's normal practice.
A further announcement confirming the
appointment of James Pennefather, disclosing information in respect
of Schedule 2(g) of the AIM Rules, will be made on completion of
customary regulatory due diligence checks.
Contacts
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Chapel Down Group
plc
Andrew Carter
Rob Smith
|
Chief Executive Officer
Chief Financial Officer
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01580 763 033
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Singer Capital
Markets
Shaun Dobson
Tom Salvesen
Asha Chotai
James Todd
|
Nominated Adviser and Broker
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020 7496 3000
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H/Advisors
Maitland
Sam Cartwright
Jonathan Cook
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020 73795151
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About Chapel Down:
Chapel Down (AIM: CDGP) is England's leading and
largest winemaker and the power brand of English wine, the world's
newest international wine region. From its home in Kent in the
heart of the Garden of England, Chapel Down produces a range of
sparking and still wines which consistently win prestigious
international awards for their quality. Chapel Down has over 1,000
acres of vineyards, of which 750 acres are fully
productive.
Chapel Down's status as the most recognised
English wine brand is supported by its partnerships with flagship
sporting and cultural events including Ascot, The Boat Race and Pub
in the Park, and Chapel Down is the 'Official Sparkling Wine' of
the England and Wales Cricket Board.
Chapel Down is listed on the London Stock
Exchange's AIM and has over 10,000 retail investors who enjoy
discounts on Chapel Down's wines, tours and tastings at the brand's
home at Tenterden in Kent, which each year attracts c60,000
visitors.
Chapel Down is strongly committed to growing its
business in balance with the environment and sustainability is a
strong, ongoing focus. The company is a founding member of
Sustainable Wines of Great Britain and practices sustainable
viticulture.
