Distribution Finance Cap. Hldgs PLC Board Update and Directorate Changes (6974M)
May 13 2020 - 1:00AM
UK Regulatory
TIDMDFCH
RNS Number : 6974M
Distribution Finance Cap. Hldgs PLC
13 May 2020
13 May 2020
Distribution Finance Capital Holdings plc
("DFC" or the "Company" or together with its subsidiaries the
"DFC Group")
Board Update and Directorate Changes
The Company has relationship agreements in place with its two
largest shareholders, Arrowgrass Master Fund Limited (AMFL) and
Watrium AS. In line with market practice for such agreements, and
as described in the Company's AIM Admission Document, both
shareholders are entitled to appoint representative directors to
the Board for as long as their shareholdings exceed agreed
percentage thresholds.
As envisaged by these relationship agreements, both AMFL and
Watrium AS recently informed the Company that they wished to
appoint representative directors. The Board is therefore pleased to
announce the appointment of Mr Stephen Greene (on behalf of AMFL)
and Mr Haakon Stenrod (on behalf of Watrium AS) as Non-Executive
Directors, with effect from today.
Mr Greene has investment banking, investing and capital markets
experience, previously holding positions at Keel Harbour Capital
Limited, Arrowgrass Capital Partners, RMG Wealth Management, ACPI
Investments and Deutsche Bank. Recently he has transitioned into
more technology focused roles, specifically within financial
services and artificial intelligence, and currently serves as
Managing Director of Orsus Ventures Limited and Coleura Labs
Limited and formerly served as Managing Director of Satalia. Mr
Greene has a Money, Banking and Finance degree from the University
of Birmingham and is a Chartered Financial Analyst (CFA)
charterholder.
Mr Stenrod is an Investment Director at Watrium AS. He was
previously a partner with the leading Nordic investment banking
group ABG Sundal Collier. He has broad transaction experience in
M&A, equity capital markets, debt and restructuring advisory.
He holds an M.Sc. in Industrial Economics and Technology Management
from the Norwegian University of Science and Technology.
The Company also announces that Henry Kenner and James van den
Bergh will be stepping down from the Board with immediate effect.
Henry has been involved with DFC since its inception and has played
an important part in the execution of the Company's strategy during
that time. Alongside Henry, James joined the Board of DFC as a
non-executive Director in the run-up to IPO in May 2019 to assist
the Company as it transitioned from being a subsidiary of TruFin
PLC to an independent company admitted to AIM. Henry is Chairman
and James is CEO of TruFin plc and both remain shareholders of
DFC.
Chairman John Baines commented:
"The entire firm is grateful to Henry and James for their
support and advocacy of DF Capital. Without their enthusiasm and
belief in the founders' vision much of what has been achieved by
the company would not have been possible. Both have proven
exceptional board colleagues and their wise counsel and experience
has been valued by the entire board. Specifically, in relation to
Henry, we appreciate him stepping in as Interim CEO last year and
ensuring strategic momentum was not lost whilst we recruited a new
permanent CEO and continued to progress the banking licence
application. We wish both Henry and James well in their other
commercial engagements beyond DFC.
The Board is delighted to welcome Stephen and Haakon as
Non-Executive Directors and looks forward to working with them in
supporting DFC's strategic ambitions."
Additional information required to be disclosed under Schedule
Two of the AIM Rules:
Mr Greene, aged 43, currently holds or has held the following
directorships and partnerships over the last five years:
Current: Past:
Trufin plc. Keel Harbour
Orsus Ventures Limited Capital Limited
Coleura Labs Limited
Mr Greene currently has no shares in the Company in a personal
capacity. AMFL owns 52,448,082 shares or 49.2% of the Company.
Mr Stenrod, aged 39, has no directorships and partnerships over
the last five years to disclose under Schedule Two of the AIM Rules
and currently has no shares in the Company in a personal capacity.
His employer, Watrium AS, owns 14,833,922 shares or 13.9% of the
Company.
Except as disclosed in this announcement, no other disclosures
are required in respect of the appointment of Mr Greene or Mr
Stenrod under paragraph (g) of Schedule Two of the AIM Rules for
Companies.
For further information, please contact:
Enquiries:
Distribution Finance Capital Holdings plc
Carl D'Ammassa - Chief Executive Officer +44 (0) 20 3937 6390
http://www.dfcapital-investors.com
Macquarie Capital (Europe) Limited (NOMAD and broker)
Alex Reynolds +44 (0) 20 3037 2000
Jonny Allison
Blue Pool Communications (Financial PR)
Nick Lord +44 (0) 7501 271 083
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END
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