Proposed Board Changes and Issue of Options

RNS Number : 4709X

DP Poland PLC

30 August 2022

 

DP Poland plc

("DP Poland" or the "Company")

Proposed Board Changes

and

Issue of Share Options

DP Poland, the operator of Domino's pizza stores and restaurants across Poland and Croatia announces Ms. Malgorzata Potkanska, CFO and Executive Director, will step down from her position as of 30 September 2022. The Company intends to appoint Mr. Edward Kacyrz to the Board as Executive Director and CFO subject to the completion of normal regulatory due diligence being carried out by the Company's Nomad.

Mr. Kacyrz is a Chartered Accountant with 18 years of experience, during which time he has held a number of financial, strategy and management roles at Mars, Levi Strauss and Kimberly Clark in Poland. Having started his career in accounting and finance roles, Edward progressed into business development, corporate development and strategy at Velvet Care and most recently at Smyk, Poland's leading toys and children apparel retailer.

Nick Donaldson, Non-Executive Chairman of DP Poland, said : "On behalf of the Board of DP Poland, I would like to thank Malgorzata for her dedication and hard work over the past six years, first as the CFO of Dominium and since early 2021 as the CFO of DP Poland. She has been an important contributor to the Company's transformation, particularly through the merger and subsequent integration. We wish Malgorzata all the best in her new role and are confident that the groundwork she established will help Edward carry the finance functions forward at DP Poland."

Nils Gornall, the Company CEO, said : "I am delighted to welcome Edward to DP Poland's management team and Board. Edward brings technical and leadership skills as well as a can-do attitude which will all be highly welcomed within our organization. His experience in the retail and e-commerce space, alongside his extensive financial experience, will further strengthen our capacity to increase sales and profits. I look forward to working with him as we continue to deliver the next phase of DP Poland's growth strategy."

Proposed Board Changes

Mr. Kacyrz's appointment is expected to be effective from 1 December 2022 at the latest. A further announcement confirming the appointment on completion of customary regulatory due diligence checks and disclosing information in respect of Schedule 2(g) of the AIM Rules will be made when appropriate.

Ms. Malgorzata Potkanska, the Company's Executive Director and current CFO, will step down from her position and leave DP Poland on 30 September 2022. If any gap arises between departure of the current CFO and arrival of the incoming CFO, the Company's finance function will be overseen by a Non-Executive Director and supported by Mr. Maciej Jania, former CFO of DP Poland and current Head of Revenue.

Issue of Share Options

Mr. Kacyrz shall be granted share options under the new stock option plan announced 15 June 2022. The program comprises a total of 49,280,351 share options over ordinary shares of 0.5 pence each ("Share Options"). Share Options will be granted to Edward Kacyrz, effective upon the proposed board appointment, as follows:

Name	Number of Share Options granted	% of Issued Share Capital	Vesting Commencement date
Edward Kacyrz	3,520,025	0.5%	on appointment

For the avoidance of doubt, the allotment of the options to Edward Kacyrz will be held by the Company and allotted to Edward upon formal confirmation of his appointment to the board of directors. A further announcement will be made at that point.

Of the Share Options issued to Edward Kacyrz, 50% will time-vest and 50% will vest subject to meeting certain performance indicators being met or exceeded. Of the time-vesting portion, 25% vest 12 months from the Vesting Commencement date and 75% vest in 36 equal monthly instalments thereafter. The Share Options linked to key performance indicators carry the performance criteria of EBITDA which must be achieved annually over the vesting period and total number of stores target.

The exercise price of the Share Options granted is 8 pence per share and aligns the interest of the Share Options beneficiaries with the shareholders who subscribed for the equity in the 2021 and 2022 raises at 8 pence per share.

Enquiries:

DP Poland plc		Tel: [phone]
Nils Gornall, CEO
Singer Capital Markets (Nominated Adviser and Broker)		Tel: [phone]
Shaun Dobson / Will Goode / Amanda Gray

Notes for editors

About DP Poland plc

DP Poland, through its wholly owned subsidiary DP Polska S.A., has the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland. Following its acquisition of Dominium S.A., which constituted a reverse takeover under the AIM Rules for Companies, the group now operates over 100 stores and restaurants across a number of cities and towns in Poland.

 

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