Ultimate Sports Group PLC Appointment of CEO and director resignation (6019H)
August 02 2019 - 2:01AM
UK Regulatory
TIDMUSG
RNS Number : 6019H
Ultimate Sports Group PLC
02 August 2019
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
2 August 2019
Ultimate Sports Group PLC
("USG" or the "Company")
Appointment of Chief Executive Officer and
Director Resignation
Ultimate Sports Group PLC, the AIM listed investment vehicle, is
pleased to announce the appointment of Matthew Farnum-Schneider as
Chief Executive Officer ("CEO") with effect from 1 August 2019.
Matthew Farnum-Schneider, aged 45, is an experienced senior
executive, having most recently been a Managing Director and Senior
Adviser to the CEO at Credit Suisse between 2015-2019, prior to
which he was Managing Director at the Chief Executive Office of
Prudential PLC between 2014-2015. Between 2012-2013, Matthew was
Director of International Economics of the White House National
Security Council, prior to which, he was appointed by the White
House to manage the US government's development finance
institution, the Overseas Private Investment Corporation
(OPIC).
Matthew Farnum-Schneider said: "I am delighted to be joining USG
as CEO and look forward to providing more details on our strategy
for the business in the coming months."
Commenting on the appointment, Executive Chairman, Richard Owen
said: "I am very pleased that someone the calibre of Matthew will
be joining USG as CEO and has committed himself to spearhead the
corporate development of the Group."
Information disclosable under Schedule Two paragraph (g) of the
AIM Rules
Matthew Farnum-Schneider does not hold any shares. However, as
part of his compensation package, the Company will grant Matthew
options over up to 4,000,000 ordinary shares in the Company
("Shares") as follows:
Vesting period No. options Exercise price
------------------------------ ------------ -------------------
1 February 2020 to 31 January 666,666 20 pence per Share
2023
1 August 2020 to 31 July 2023 333,334 20 pence per Share
1 August 2020 to 31 July 2023 333,332 40 pence per Share
1 February 2021 to 31 January 666,668 40 pence per Share
2024
1 August 2021 to 31 July 2024 666,666 60 pence per Share
1 February 2022 to 31 January 666,666 60 pence per Share
2025
1 August 2022 to 31 July 2025 666,668 60 pence per Share
If Matthew ceases to be employed as an employee or officer of
the Company, options that are yet to vest will lapse and options
that have vested may be exercised for a period of 30 days following
the date Matthew ceases to be an employee or officer of the
Company.In the five years preceding the date of this announcement,
he held the following directorships or partnerships:
Current directorships or partnerships Past directorships or partnerships
-------------------------------------- -----------------------------------
- Global Infrastructure Investor
Association
Separately, and after serving as a director of USG since jointly
founding the business in 1999, Geoffrey Simmonds, Executive
Director, has informed the Board of his desire to retire from the
Board with immediate effect.
Commenting on Geoffrey's resignation, Richard Owen said: "On
behalf of the Board, my sincere thanks go to Geoffrey for his
substantial help over many years, and we wish him and his family
the very best for the future."
* * ENDS * *
For further information, please visit www.ultimatesportsgroup.me
or contact:
Ultimate Sports Group PLC
Richard Owen (Executive Chairman) +44 (0)7721 613613
St Brides (Financial PR)
Catherine Leftley, Gaby Jenner +44 (0)20 7236 1177
Cantor Fitzgerald Europe (Nomad and Broker)
David Foreman, Michael Boot +44 (0)20 7894 7000
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END
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