DP Poland PLC Proposed Board Changes and Issue of Options (4709X)
August 30 2022 - 2:02AM
UK Regulatory
TIDMDPP
RNS Number : 4709X
DP Poland PLC
30 August 2022
DP Poland plc
("DP Poland" or the "Company")
Proposed Board Changes
and
Issue of Share Options
DP Poland, the operator of Domino's pizza stores and restaurants
across Poland and Croatia announces Ms. Malgorzata Potkanska, CFO
and Executive Director, will step down from her position as of 30
September 2022. The Company intends to appoint Mr. Edward Kacyrz to
the Board as Executive Director and CFO subject to the completion
of normal regulatory due diligence being carried out by the
Company's Nomad.
Mr. Kacyrz is a Chartered Accountant with 18 years of
experience, during which time he has held a number of financial,
strategy and management roles at Mars, Levi Strauss and Kimberly
Clark in Poland. Having started his career in accounting and
finance roles, Edward progressed into business development,
corporate development and strategy at Velvet Care and most recently
at Smyk, Poland's leading toys and children apparel retailer.
Nick Donaldson, Non-Executive Chairman of DP Poland, said : "On
behalf of the Board of DP Poland, I would like to thank Malgorzata
for her dedication and hard work over the past six years, first as
the CFO of Dominium and since early 2021 as the CFO of DP Poland.
She has been an important contributor to the Company's
transformation, particularly through the merger and subsequent
integration. We wish Malgorzata all the best in her new role and
are confident that the groundwork she established will help Edward
carry the finance functions forward at DP Poland."
Nils Gornall, the Company CEO, said : "I am delighted to welcome
Edward to DP Poland's management team and Board. Edward brings
technical and leadership skills as well as a can-do attitude which
will all be highly welcomed within our organization. His experience
in the retail and e-commerce space, alongside his extensive
financial experience, will further strengthen our capacity to
increase sales and profits. I look forward to working with him as
we continue to deliver the next phase of DP Poland's growth
strategy."
Proposed Board Changes
Mr. Kacyrz's appointment is expected to be effective from 1
December 2022 at the latest. A further announcement confirming the
appointment on completion of customary regulatory due diligence
checks and disclosing information in respect of Schedule 2(g) of
the AIM Rules will be made when appropriate.
Ms. Malgorzata Potkanska, the Company's Executive Director and
current CFO, will step down from her position and leave DP Poland
on 30 September 2022. If any gap arises between departure of the
current CFO and arrival of the incoming CFO, the Company's finance
function will be overseen by a Non-Executive Director and supported
by Mr. Maciej Jania, former CFO of DP Poland and current Head of
Revenue.
Issue of Share Options
Mr. Kacyrz shall be granted share options under the new stock
option plan announced 15 June 2022. The program comprises a total
of 49,280,351 share options over ordinary shares of 0.5 pence each
("Share Options"). Share Options will be granted to Edward Kacyrz,
effective upon the proposed board appointment, as follows:
Number of Share % of Issued Share Vesting Commencement
Name Options granted Capital date
Edward Kacyrz 3,520,025 0.5% on appointment
----------------- ------------------ ---------------------
For the avoidance of doubt, the allotment of the options to
Edward Kacyrz will be held by the Company and allotted to Edward
upon formal confirmation of his appointment to the board of
directors. A further announcement will be made at that point.
Of the Share Options issued to Edward Kacyrz, 50% will time-vest
and 50% will vest subject to meeting certain performance indicators
being met or exceeded. Of the time-vesting portion, 25% vest 12
months from the Vesting Commencement date and 75% vest in 36 equal
monthly instalments thereafter. The Share Options linked to key
performance indicators carry the performance criteria of EBITDA
which must be achieved annually over the vesting period and total
number of stores target.
The exercise price of the Share Options granted is 8 pence per
share and aligns the interest of the Share Options beneficiaries
with the shareholders who subscribed for the equity in the 2021 and
2022 raises at 8 pence per share.
Enquiries:
DP Poland plc Tel: +44 (0) 20 3393
6954
Nils Gornall, CEO
Singer Capital Markets (Nominated Tel: +44 (0) 20 7496
Adviser and Broker) 3000
Shaun Dobson / Will Goode / Amanda
Gray
Notes for editors
About DP Poland plc
DP Poland, through its wholly owned subsidiary DP Polska S.A.,
has the exclusive right to develop, operate and sub-franchise
Domino's Pizza stores in Poland. Following its acquisition of
Dominium S.A., which constituted a reverse takeover under the AIM
Rules for Companies, the group now operates over 100 stores and
restaurants across a number of cities and towns in Poland.
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END
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