Footasylum PLC Executive Chairman Appointment (0843Q)

TIDMFOOT

RNS Number : 0843Q

Footasylum PLC

01 June 2018

1 June 2018

Footasylum plc

("Footasylum" or the "Company")

Executive Chairman Appointment

Footasylum, the UK-based fashion retailer focussing on branded footwear and apparel, is pleased to announce that Barry Bown has joined the Board as Executive Chairman with immediate effect.

Barry had previously committed to take on the role as part of the Company's admission to AIM in November 2017, as highlighted in its Admission Document, and has been working for the Company in a consulting role since 1 March 2018.

Barry has over 30 years' retail experience, most of which was gained at the JD Sports chain which he joined in 1984 and where he served as Chief Executive from 2000 until 2014.

Also as previously announced, John Wardle will now retire from the Board with immediate effect. John joined the Company in 2008 as its Chief Executive and moved to Executive Chairman in 2015, upon the promotion of Clare Nesbitt to Chief Executive.

Commenting on the Board Changes, Clare Nesbitt, CEO,said:

"We are delighted to welcome Barry to the Board. He hits the ground running having spent the last three months getting to know the Company in a consulting role and we know that he will contribute materially to the next phase of the Company's development.

We would also like to place on record our great appreciation to John Wardle and to recognise the key role he has played in driving the Company to where it is today. We wish him a peaceful and enjoyable retirement."

The information on Barry Bown required to be disclosed in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies is contained in the Company's Admission Document which can be found at http://investors.footasylum.com/. Save for the information contained therein, Mr Bown has confirmed that there are no additional disclosures to be made in this regard.

 
 Enquiries: 
  Footasylum plc                                             Tel: +44 (0) 1706 
    Nancy Kelsall (Company Secretary)                                  746 777 
   GCA Altium Limited (Financial Adviser & Nominated 
    Adviser)                                              Tel: +44 (0) 20 7484 
    Phil Adams                                                            4040 
    Sam Fuller 
    Tim Richardson 
   Liberum Capital Limited (Broker) 
    John Fishley 
    Jill Li 
   Powerscourt (Financial Public Relations)               Tel: +44 (0) 20 3100 
    Rob Greening                                                          2222 
    Lisa Kavanagh 
    Isabelle Saber 
 
                                                              Tel: +44 (0) 207 
                                                                      250 1446

Customer website: https://www.footasylum.com/

Investor website: http://investors.footasylum.com/

Notes to Editors:

Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails "on-trend" product ranges which are predominantly aimed at 16 to 24 year old fashion-conscious customers and are sourced from an extensive stable of third party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.

Examples of third party brands include: adidas; Nike; The North Face; Gym King; Converse; New Balance; EA7; Vans; Nicce London; Siksilk; Under Armour; and Calvin Klein. Examples of Footasylum's own brands include: Kings Will Dream; Glorious Gangsta; Condemned Nation; and Alessandro Zavetti.

The Company operates a multi-channel model which combines a 65-strong store estate - in a variety of high street, mall and retail park locations in cities and towns throughout Great Britain - with a fast-growing eCommerce platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners. In FY17, the store estate accounted for 71 per cent. of revenue and eCommerce accounted for 29 per cent.

Footasylum was founded in 2005 and the Company's ordinary shares were admitted to trading on AIM in November 2017.

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END

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