Hastings Group Holdings plc Director Resignation (9740S)
June 28 2018 - 11:34AM
UK Regulatory
TIDMHSTG
RNS Number : 9740S
Hastings Group Holdings plc
28 June 2018
FOR IMMEDIATE RELEASE
Hastings Group Holdings plc (the "Company")
28 June 2018
Director Resignation
The Company announces that, following due notice on behalf of
the Founder Shareholders, Selina Sagayam is no longer their
nominated appointee to the Company's Board under the terms of a
relationship agreement ("Agreement)" between the Company, the
Founder Shareholders, and the GS Shareholders; she has, therefore,
resigned her position with effect from today's date.
The Agreement entitles the Founder Shareholders (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%. The Company has been
informed by the Founder Shareholders that they do not intend to
nominate a replacement director at this time.
Founder Shareholders
For the purposes of this announcement, the "GS Shareholders" are
entities represented by Goldman Sachs Merchant Banking Division 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
Group Company Secretary
T: +44 (0)1424 738220 cosec@hastingsplc.com
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contact rns@lseg.com or visit www.rns.com.
END
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