23 May 2024
Ramsdens Holdings PLC
("Ramsdens", the
"Group", the "Company")
Forthcoming Board
Changes
Ramsdens, the diversified financial services
provider and retailer, announces the following Board changes as
part of its succession planning.
Andrew (Andy) Meehan, who has been Non-Executive
Chair of the Group since September 2014 has notified the Board of
his intention to step down and will not seek re-election at the
Group's next AGM, expected to be in March in 2025.
At the same time, we are pleased to announce
that Simon Herrick, currently the Group's Senior Independent
Director, who joined the Board in 2017 will become Non-Executive
Chair when Andy steps down next year.
The Board would like to express its appreciation
to Andy for his invaluable contributions to the Company over the
last decade. Andy joined Ramsdens when Peter Kenyon led a
management buyout from the Smith family, backed by NorthEdge
Capital LLP. He has overseen the successful transition of Ramsdens
from a family owned business, to a PE backed business and now 7
years quoted on AIM. During this time on AIM, the Group has
increased profit before tax from £4m to over £10m and grown the net
assets of the business from £23m to £48m.
A recruitment process will now commence for a
new Non-Executive Director to further widen the skills and
experience of the Board.
Andy Meehan
said: "It has
been an extraordinary privilege to Chair this business over the
last 10 years. Ramsdens has a very talented team of people and I
have enjoyed assisting in the Group's development. I am very
pleased that Simon will succeed me as Chair in due course and am
confident that he will continue to drive this outstanding business
forward."
Simon Herrick
said: "Andy
has chaired the business very successfully through an ever‐changing
economic landscape including the unprecedented period of
uncertainty caused by the Covid-19 pandemic. I am honoured and
excited to have the opportunity to become Chair of Ramsdens and
continue to work closely with the exceptional leadership team to
create further shareholder value."
ENDS
Enquiries:
Ramsdens
Holdings
PLC
Tel: +44
(0) 1642 579957
Peter Kenyon, CEO
Martin Clyburn, CFO
Liberum
Capital Limited (Nominated Adviser)
Tel: +44 (0) 20 3100 2000
Richard Lindley
Will King
Hudson Sandler
(Financial PR)
Tel: +44 (0) 20 7796 4133
Alex Brennan
Lucy Wollam-Coles
Emily Brooker
About
Ramsdens
Ramsdens is a growing, diversified, financial
services provider and retailer, operating in the four core business
segments of foreign currency exchange, pawnbroking loans, precious
metals buying and selling and retailing of second hand and new
jewellery.
Ramsdens does not offer unsecured high-cost
short term credit.
Headquartered in Middlesbrough, the Group
operates from 168 stores within the UK (including one franchised
store) and has a growing online presence.
Ramsdens is fully FCA authorised for its
pawnbroking and credit broking activities.
www.ramsdensplc.com
www.ramsdensforcash.co.uk
www.ramsdensjewellery.co.uk
www.ramsdenscurrency.co.uk
