SIG PLC Directorate Changes (2200S)
March 08 2023 - 2:05AM
UK Regulatory
TIDMSHI
RNS Number : 2200S
SIG PLC
08 March 2023
LEI: 213800VDC1BKJEZ8PV53 8 March 2023
SIG plc
(the "Company" or "SIG" )
Directorate changes
SIG announces that Christian Rochat, one of the two Directors
appointed by CD&R Sunshine S.À R.L ("CD&R"), informed the
Company yesterday that he does not intend to stand for re-election
at the Annual General Meeting on 4 May 2023 (the "AGM"). CD&R
yesterday served notice on the Company that it intends to nominate
Mr Diego Straziota for appointment to SIG's Board at the AGM.
Mr Straziota is a Managing Director at CD&R principally
engaged in evaluating investment opportunities in the industrials
and business services verticals. He has served as CD&R's
appointed observer to SIG's Audit & Risk Committee since July
2020. T here are no disclosures required in respect of this
appointment pursuant to Listing Rule 9.6.13 (1) to (6).
Commenting on these changes, SIG's Chairman Andrew Allner said
"Christian joined the Board at the time of CD&R's investment in
July 2020. We are grateful to him for the contribution he has made
to the Company's turnaround and progress since then, to the benefit
of all of SIG's shareholders. Diego is well-known to the Board, and
we look forward to working with him."
SIG plc +44 (0) 114 285 6300
A ndrew Allner Chairman
FTI Consulting +44 (0) 20 3727 1340
Richard Mountain
Peel Hunt LLP - Joint broker to SIG +44 (0) 20 7418 8900
Mike Bell / Charles Batten
Investec Bank plc - Joint broker to SIG +44 (0) 20 7597 5970
Bruce Garrow / David Anderson
Notes
-- There are no remuneration payments (within the meaning of
section 430(2B) of the Companies Act 2006) that will be paid to
Christian Rochat following him ceasing to be a director and he will
not receive any payment for loss of office
-- Under the terms of the relationship agreement dated 29 May
2020 between the Company and CD&R, whilst CD&R holds at
least 20% of the votes able to be cast at general meetings of the
Company, CD&R has the right to appoint two non-executive
directors to the Board (each a "Nominee Director"). In addition,
whilst CD&R holds at least 10% of the votes able to be cast at
general meetings of the Company, CD&R has the right to
designate a Nominee Director to sit on each of the Remuneration
Committee and the Nominations Committee, and to appoint an observer
to the Audit & Risk Committee
-- Christian Rochat is a member of the Nominations Committee.
Upon him ceasing to be a director, CD&R's other current Nominee
Director, Bruno Deschamps, shall be appointed a member of the
Nominations Committee. Bruno will remain a member of the
Remuneration Committee
-- Diego Straziota shall continue to be CD&R's appointed
observer to the Audit & Risk Committee following his
appointment as a Nominee Director
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END
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