Results of AGM and Board Changes

19 September 2024

PHSC PLC

(“PHSC” or the “Company”)

Results of AGM and Board Changes

PHSC (AIM: PHSC), a leading provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors, is pleased to announce that the resolutions proposed at its Annual General Meeting (“AGM”) held earlier today, as set out in the formal Notice of AGM dated 6 August 2024, were all duly approved by shareholders.

Board Changes

In addition, the Company announces that Graham Webb MBE will be retiring and stepping down as a non-executive director of the Company with effect from 30 September 2024. The Board would like to take this opportunity to express its sincere gratitude to Graham for his longstanding service and valued contribution to the Company over more than 20 years and wishes him all the best in his retirement.

In addition, the Company is pleased to announce that Frank Moxon will take up office as a non-executive director effective from 1 October 2024. Frank has nearly 35 years’ experience as a corporate financier and financial adviser to companies, ranging from start-ups to businesses over £3 billion in size, in a wide range of sectors.

Frank has held several senior management roles within the financial services industry and, in addition to having been Senior Independent Director at Cove Energy Plc, prior to its sale in August 2012 to PTT for £1.2 billion, has been a director of various companies listed in London, Australia and Canada. Frank is also currently the President of the East of England Co-operative Society.

Frank has a BSc in Economics and is an Honorary Chartered Fellow of the Chartered Institute for Securities & Investment.

Stephen King, Chairman and Chief Executive Officer of PHSC, today commented:

“We are most appreciative of Graham’s longstanding support and contribution to the Company’s development and wish him all the best in retirement and his future endeavours. We look forward to welcoming Frank to the Board next month and working closely with him in the next phase of the Company’s growth and long-term value creation for stakeholders.”

For further information please contact: 

PHSC plc

Stephen King                                                                                            Tel: [phone]

[e-mail]

www.phsc.plc.uk

Strand Hanson Limited (Nominated Adviser)                                Tel: [phone]

James Bellman / Matthew Chandler

Novum Securities Limited (Broker)                                                  Tel: [phone]

Colin Rowbury

Additional information on the Appointment of a Director

As required pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies, Frank Moxon is, save for his planned directorship of PHSC, currently a director/partner, or has been a director/partner in the past five years, of the following companies/partnerships:

Frank Hoyt Moxon (aged 58)
Current Directorships/Partnerships Past Directorships/Partnerships (last 5 years) Anglian Convenience Stores Limited Drake Energy Limited Ardencrest Limited Graves Moxon Group Limited CISI Educational Trust Harvest Minerals Ltd East of England (SLP) General Partner Limited The Brokerage Citylink East of England Co-op Travel Limited East of England Co-operative Society (Trustees) Ltd East of England Co-operative Society Limited H.L. Perfitt Limited Hoyt Moxon Ltd Jersey Oil and Gas plc The Co-operative Loan Fund Limited

Mr Moxon was a non-executive director of Silvermere Energy Plc which entered into a creditors' voluntary arrangement approved by creditors and shareholders on 16 August 2013 and completed on 20 December 2013. Total unsecured claims amounted to £1,043,532. Under the terms of the CVA creditors were issued with equity in the company (which was renamed Tern Plc and is quoted on AIM) in lieu of cash in order to settle all claims.

Mr Moxon was a non-executive director of EastCoal Inc. from October 2012 until October 2013 which entered into a form of creditors’ voluntary arrangement (under Canadian law) approved by creditors on 22 April 2014 and completed in August 2014. Total secured and unsecured claims amounted to C$3,026,122 in respect of which there was a deficiency of C$2,575,154. Under the terms of the arrangement creditors each received a cash payment of approximately 15 per cent. (pre-tax) of monies owed.

Mr Moxon was a non-executive director of Whetstone Minerals Ltd until March 2013 which was voluntarily wound up without the appointment of a liquidator in December 2013 with net assets of approximately $1.4 million.

Mr Moxon was a non-executive director of Swala Energy Ltd, an ASX listed company from June 2015 until June 2017, which entered into a Voluntary arrangement in June 2016, involving a Deed of Company Arrangement. Total secured and unsecured claims amounted to A$415,000, to which there was an A$248,000 deficiency. In February 2018, priority creditors of A$176,000 were paid in full, whilst unsecured creditors were offered a cash payment of approximately 50 per cent. (pre-tax) of monies owed.

Mr Moxon holds no direct or indirect interest in the Company’s issued share capital.

There is no further information to be disclosed pursuant to Schedule Two Paragraph (g) of the AIM Rules for Companies.

About PHSC

PHSC, through its trading subsidiaries, Personnel Health & Safety Consultants Ltd, RSA Environmental Health Ltd, QCS International Ltd, Inspection Services (UK) Ltd and Quality Leisure Management Ltd, provides a range of health, safety, hygiene, environmental and quality systems consultancy and training services to organisations across the UK. In addition, B2BSG Solutions Ltd offers innovative security solutions including tagging, labelling and CCTV.

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