Hastings Group Holdings plc Director Appointment and Resignation (2082M)
July 27 2017 - 1:03AM
UK Regulatory
TIDMHSTG
RNS Number : 2082M
Hastings Group Holdings plc
27 July 2017
27 July 2017
Hastings Group Holdings plc (the "Company")
Director Appointment and Resignation
The Company announces the proposed appointment of Selina Sagayam
as a non-executive director.
Ms Sagayam's appointment is by nomination of the Founder
Shareholders under the terms of a relationship agreement between
the Company, the Founder Shareholders, and the GS Shareholders
which entitles the Founders (subject to prescribed notice) to
remove an existing and nominate a replacement director to the Board
(for as long as their combined shareholding in the Company exceeds
5%). Ms Sagayam replaces Richard Brewster who will step down as a
non-executive director.
The appointment was approved by the Board at a meeting on 26
July 2017 and will take effect on 14 August 2017; Mr Brewster's
resignation will take effect on the same date.
Ms Sagayam has, since August 2015, served as a non-executive
director on the board of the Company's FCA regulated subsidiary
entity, Hastings Insurance Services Limited and also chairs the
Risk Committee; she will continue in that role.
Ms Sagayam is the Head of UK Transactional Practice Development
in the London office of law firm Gibson, Dunn & Crutcher. She
is an English qualified lawyer who joined the firm as a partner in
2007. Her appointment to the Company's Board is in a personal
capacity and unconnected to her position with Gibson Dunn.
Mike Fairey, the Company's Chairman, commented:
"Richard has been involved in the business for many years,
having been a member of the management buyout team which acquired
the business in 2009; I would like to thank him for his
contribution. I would also like to welcome Selina to the Board and
look forward to working with her."
There are no additional matters requiring disclosure under Rule
9.6.13 of the UK Listing Rules.
GS Shareholders and Founder Shareholders
For the purposes of this announcement, the "GS Shareholders" are
entities represented by Goldman Sachs Merchant Banking Division,
being Hastings A, L.P., Hastings B, L.P., and Goldman Sachs &
Co LLC. The "Founder Shareholders" are Neil Utley (and certain
members of his immediate family), Edward Fitzmaurice, Keith
Charlton, and Richard Brewster.
For further information, please contact:
Tony Leppard T: +44 (0)1424 738220
Group Company Secretary cosec@hastingsplc.com
Louise Underwood T: +44 (0)1424 738011
Director of Investor Relations ir@hastingsplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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