THE INFORMATION CONTAINED WITHIN
THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS DEFINED BY THE
MARKET ABUSE REGULATIONS (EU) NO. 596/2014, WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
12 March
2024
H C SLINGSBY
PLC
("Slingsby", the "Company" or the "Group")
Retirement of Executive Director
Related
Party Transaction
HC Slingsby PLC, one of the market
leaders in the distribution of industrial and commercial equipment,
announces that the Company's Operations
Director, Dominic Slingsby, stepped down from the Board on 11 March
2024. Dominic will remain as an employee of the Group until
his retirement on 30 June 2024 after the Company's next annual
general meeting ("AGM"), in order to facilitate an effective
transition of his responsibilities.
Andrew Kitchingman, Slingsby's Independent Non-Executive
Chairman commented:
"Dominic has worked for the Group for over 40 years. On behalf
of the Board, I would like to thank Dominic for his commitment and
contribution during his tenure. His dedication will be missed by
everyone at Slingsby and we wish him the very best in his
retirement."
Related Party Transaction
As part of the Board change and
Dominic's retirement, in addition to payment in relation to his 12
month notice period, the Company has agreed with Dominic that he
shall receive a payment of £60,000 and non-cash benefits
(principally in relation to the keeping of a Company car) of a
value of £15,500 from the Company under an employment settlement
agreement (the "Agreement").
Entry into the Agreement by the
Company constitutes a related party transaction under the AIM Rules
for Companies as Dominic Slingsby was a Director of the Company at
the point at which the Agreement was signed. The directors of
Slingsby who are independent of the Agreement, being Andrew
Kitchingman and Morgan Morris, consider, having consulted with its
nominated adviser, Allenby Capital Limited, that the terms of the
Agreement are fair and reasonable insofar as the Company's
shareholders are concerned.
For further information, please
contact:
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H C
Slingsby PLC
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Tel: 01274 535 030
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Andrew Kitchingman, Non-Executive
Chairman
Morgan Morris, Group Chief
Executive
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Allenby Capital Limited (Nominated Adviser and
Broker)
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Tel: 020 3328 5656
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Alex Brearley / George Payne
(Corporate Finance)
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Amrit Nahal (Sales and Corporate
Broking)
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