Directorate Change and Total Voting Rights

RNS Number : 0209M

Tandem Group PLC

19 May 2022

 

19 May 2022

  Tandem Group plc

(the "Company" or "Group")

Appointment of Chief Executive Officer

Tandem Group plc (AIM: TND), designers, developers and distributors of sports, leisure and mobility equipment, is delighted to announce the appointment of Peter Kimberley as Chief Executive Officer of the Company with immediate effect.

Peter Kimberley was appointed as a non-executive director of the Company in November 2021 and has more than 30 years retail experience across a number of sectors including the cycle retail sector with specific experience in e-mobility across omnichannel, B2B and B2C offerings - most recently as Chief Executive Officer of Pure Electric Limited, a specialised omnichannel retailer of e-bikes and e-scooters in the UK and Europe.

Peter was previously Managing Director of Cycle Republic (omnichannel), Tredz (online proposition) and Boardman Bikes (brand and design) within Halfords Group PLC between 2013 and 2020. 

Steve Grant, Chairman, commented "We are very pleased that Peter has decided to become CEO. Having been a Non-Executive Director for 6 months, he already has a strong understanding of the business and will be able to add real value, utilising his wide and varied experience in senior leadership roles will serve to drive the Group's strategic direction and maximise shareholder value."  

To facilitate an orderly transition of executive duties, Steve Grant will remain Executive Chairman until the conclusion of the Company's annual general meeting to be held on 23 June 2022, at which point he will resume his role of Non-Executive Chairman.

In connection with his appointment, Mr. Kimberley has today been awarded 37,500 options to subscribe for ordinary shares in the Company under the Company's 2019 Employee Share Option Scheme (the "Options"). Any future exercises of Options will be satisfied from existing ordinary shares held in treasury by the Company.

The Options are exercisable from 31 December 2024 at a price of 325 pence per ordinary share.

In addition, Mr Kimberley has been awarded 37,500 ordinary shares in the Company, These ordinary shares cannot be sold within 12 months and thereafter only with agreement from the Board. These shares will be satisfied by the transfer of ordinary shares held by the Company in treasury.

Following the above transaction, the Company continues to have a total of 6,013,480 ordinary shares in issue, each carrying the right to one vote. On 3 May 2022 a further 17,000 options to subscribe for ordinary shares were exercised by an employee of the Group under the 2019 Employee Share Option Scheme, which were satisfied from existing ordinary shares held in treasury. As a result, 603,921 ordinary shares are currently held in treasury. The total number of voting rights in the Company is therefore 5,409,559 which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Following the issue, Mr Kimberley holds 37,500 ordinary shares representing approximately 0.69% of the Company's issued ordinary share capital.

The notification set out below, made in accordance with the requirements of Article 19 of the Market Abuse Regulation, provides further details of such dealings.

Enquiries:

Tandem Group plc

David Rock, Company Secretary

Telephone [phone]

Nominated Adviser

Cenkos Securities plc (Nominated Adviser and Broker)

Ben Jeynes / Dan Hodkinson - Corporate Finance

Michael Johnson / Russell Kerr - Sales

Telephone [phone]

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Peter Kimberley
2	Reason for notification
a.	Position/Status	Chief Executive Officer
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Tandem Group plc
b.	LEI	213800WKK3A6NMOB6788
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Ordinary shares of 25p each ISIN:   GB00B460T373
b.	Nature of the transaction	1.  Award of options to subscribe for new ordinary shares at 325 pence per ordinary share 2.  Award of ordinary shares
c.	Price(s) and volume(s)		Price(s) Volume(s) 1.  Nil 2.  Nil 37,500 37,500
d.	Aggregated information - Aggregated Volume - Price	N/A - single transactions
e.	Date of the transaction	1.  19 May 2022  2.  19 May 2022
f.	Place of the transaction	1.  Outside of a trading venue

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company take responsibility for this announcement.

 

END

 

 

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