Change in Role of Director

RNS Number : 7409H

Motorpoint Group plc

12 June 2017

 

12 June 2017

Motorpoint Group plc

("Motorpoint" or the "Group")

Change in Role of Director

Motorpoint Group plc, the UK's largest independent vehicle retailer, announces that the Group's Founder and Executive Director, David Shelton, will begin a phased reduction in his contracted working hours as of today, 12 June 2017.

David's working hours will reduce over the course of the 2018 financial year whereupon, on 1 April 2018, he will become a Non-Executive Director of the Group.

David remains a substantial shareholder in Motorpoint and is subject to the lock-in, relationship and service agreements outlined in the Group's IPO prospectus.

Mark Morris, Chairman, commented:

"David was the founder of Motorpoint and has been critical to its development and success. We are pleased that he wishes to remain within the business, both during his phased reduction in working hours and subsequently as a Non-Executive Director. We are glad to be able to retain David's passion, experience and knowledge which will continue to support the operational management team."

Enquiries:

Motorpoint Group plc Mark Carpenter, Chief Executive Officer James Gilmour, Chief Financial Officer	Via FTI Consulting
FTI Consulting (Financial PR) Jonathon Brill Alex Beagley James Styles	020 3727 1000

Notes to editors

Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles.  Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 12 retail sites across the United Kingdom; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford, Oldbury and Sheffield, of which seven have opened in the last five years; together with a national contact-centre dealing with online enquiries.

More information is available at www.motorpointplc.com and www.motorpoint.co.uk

 

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