Appointment of Chief Financial Officer

RNS Number : 4692G

IG Design Group PLC

30 March 2022

 

30 March 2022

IG Design Group  plc

("Design Group", the "Company" or the "Group")

Appointment of Chief Financial Officer

IG Design Group plc, one of the world's leading designers, innovators and manufacturers of celebrations, craft, gifting, stationery and creative play products, is pleased to announce the appointment of Paul Bal as Chief Financial Officer. Paul will join the Board on 1 May 2022.

Paul joins from Stock Spirits, an international alcoholic beverage business, where he has been CFO since 2017. Paul was instrumental in the substantial turnaround of the then LSE-listed Group, leveraging his experience in the management of a complex portfolio of over 70 brands selling across 50 markets.

Qualifying as a Chartered Accountant in England & Wales in 1993 and a Fellow since 2005, Paul has had an international career. He held several global management roles within British American Tobacco and Rothmans International. From 2014, Paul was Vice-President: CFO & Strategy - Europe, Africa & Middle East at Tupperware Brands, listed on the New York Stock Exchange.

Stewart Gilliland, Non-Executive Chairman, commented:

"We are delighted to have attracted someone of Paul's calibre to Design Group. His wealth of experience across global consumer markets could not be more relevant for both now and the long term future of our Group. I look forward to working with Paul to drive the business forward and return to delivering value for our shareholders."

The following details in relation to the appointment of Raj Paul Singh Bal (aged 55) are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Past directorships held within last 5 years
	Stock Spirits Group Limited (formerly Stock Spirits Group plc)* Stock Finance (Euro) Limited Stock Finance (Zloty) Limited Stock Spirits (UK) Limited* Stock Finance (Koruna) Limited* Stock Polska Sp. z.o.o.* Stock BH d.o.o.* Stock d.o.o.* Tupperware International Holdings BV Tupperware Europe, Africa and Middle East Sarl

*resignation effective on 31 March 2022

Paul Bal has an interest in 26,700 ordinary shares of Design Group, representing less than 0.1 per cent. of the current issued share capital of the Company.

There is no further information to be disclosed in relation to Paul Bal's appointment pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies. 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

IG Design Group plc	Tel: [phone]
Stewart Gilliland, Non-Executive Chairman
Canaccord Genuity Limited (Nominated Adviser and Broker)	Tel: [phone]
Bobbie Hilliam, NOMAD Alex Aylen, Sales
Alma PR	Tel: [phone]
Rebecca Sanders-Hewett Susie Hudson Sam Modlin

About IG Design Group plc

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life's special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world's biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi. Its brand, Tom Smith, also holds the Royal Warrant for the supply of Christmas crackers and Christmas wrapping paper to the Royal family. Design Group is a diverse business operating across multiple regions, categories, seasons and brands.

Its five major product categories are: Celebrations, Gifting, Craft & creative play, Stationery and 'Not-for-resale' consumables. It offers customers a full end-to-end service from design through to distribution, offering both branded and bespoke products from the value-focused through to the higher-margin ends of the market.

The Company was admitted to the Alternative Investment Market of the London Stock Exchange in 1995 under the name 'International Greetings plc' and rebranded to IG Design Group plc in 2016. For further information please visit www.thedesigngroup.com.

 

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