600 Group PLC Board Changes & Update re Annual Report (8935R)
October 31 2023 - 8:30AM
UK Regulatory
TIDMSIXH
RNS Number : 8935R
600 Group PLC
31 October 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014, AS AMENDED (AS IT FORMS
PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
31 October 2023
The 600 Group PLC
("600 Group", the "Group" or the "Company")
Board changes and Update re Publication of Annual Report
The 600 Group announces, further to the announcement made on 1
September 2023, that Derek Zissman has today resigned as a director
of the Company on the appointment of a non-executive successor. The
Company further announces that Stephen Fiamma, after over 8 years
on the Board, has also decided to resign as a director with
immediate effect.
The Group is pleased to announce that Mrs Laura Moglestue-Blom
has been appointed as a Non-Executive Director of the Company and
as Chair of the Audit Committee with immediate effect.
Laura has more than 20 years of executive experience in the UK,
EU and the US in Finance Director roles and in leading the finance
functions for SME business services and private equity-backed
growth companies.
Laura is the Co-founder and Director of Mogle & Partners
Limited, a consultancy services contractor, working across a
variety of sectors, including management consulting, biotech,
healthcare and private equity. Prior to Mogle & Partners, Laura
was Finance Director at Capital Systematics Limited, a boutique
investment firm specialising in fintech, biotech, and other
innovation-based industry sectors. Previously Laura was the Finance
Director of Pasley-Tyler Holdings Limited, the Business services
and serviced offices provider, between 2008 and 2017. Laura is a
Fellow of the Institute of Chartered Accountants in England and
Wales.
Paul Dupee, Chairman of 600 Group, said:
"We are delighted to welcome Laura to the Board and to replace
Derek as Chair of the Audit Committee and I would like to thank
both Derek and Stephen for their valuable contributions over many
years with the Group."
The Company also provides the following update in relation to
its Annual Report and Financial Statements for its financial year
ended 31 March 2023 (the "2023 Annual Report").
Further to the announcement made on 1 September 2023, and whilst
progress has been made, the Company's audit process remains
ongoing. The Directors now anticipate that the Company will be in a
position to publish the 2023 Annual Report prior to the end of
2023.
As a result, trading in the Company's ordinary shares on AIM
will continue to be suspended pending publication of the 2023
Annual Report. Suspension from trading will be lifted with the
publication of the 2023 Annual Report in due course.
Notwithstanding the temporary suspension of trading in the
Company's ordinary shares, the Company will continue to make
announcements as and when there are any developments that require
announcement in accordance with its obligations under the AIM
Rules.
Since the Company's Trading Update announced on 1 September
2023, trading conditions have remained difficult, and the Group has
continued to be loss making at an operating level. The Group
continues to consider various financial alternatives to its
existing debt facilities which currently expire on 30 November
2023.
Further announcements will be made, as appropriate, in due
course.
Regulatory Disclosures:
The following disclosures are made pursuant to AIM Rule 17 and
Schedule 2(g) of the AIM Rules for Companies:
In addition to her appointment as a Non-Executive Director of
600 Group, Laura Muriel Moglestue-Blom (nee Laura Muriel Blom and
formerly Laura Muriel Fraser) aged 61, holds or has held
directorships in the five years preceding her appointment at 600
Group plc as follows:
Current Directorships Former Directorships
Mogle & Partners Limited Interactive Pharma Management
Services Limited
Pasley-Tyler & Company Limited Capital Systematics Ltd
Pasley-Tyler Holdings Limited
Pasley-Tyler Trustees Limited
------------------------------
Laura Moglestue-Blom holds no ordinary shares in the
Company.
Enquiries:
The 600 Group PLC Tel: +1 407 818 1123
Paul Dupee, Executive Chairman
Cavendish Securities plc (Nominated Adviser and Broker) Tel: 020 7220 0500
Ben Jeynes / Dan Hodkinson (Corporate Finance)
Henry Nicol (Sales)
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