Board Changes

RNS Number : 3802D

Primorus Investments PLC

27 October 2020

 

Primorus Investments plc

("Primorus" or the "Company")

Board Changes

Primorus Investments plc (AIM: PRIM, AQSE: PRIM) is pleased to announce that further to the announcement released by the Company on 23 September 2020, Rupert Labrum, Hedley Clark and Matthew Beardmore have been appointed to the board of the Company as Non-Executive Directors with immediate effect. Additionally, as previously announced, Donald Strang, Non-Executive Director of the Company, has resigned from the board with immediate effect.

Rupert Labrum is a former investment banker, who retired after a successful career in the City of London. He was involved with Treasury and funding operations of international banks and building societies. He worked as a fund manager at Gartmore Investment Management and previously ran a proprietary derivatives trading desk at Deutsche Bank. Over the last several years, Mr Labrum has been an active investor in multiple private and publicly quoted companies. He has held notifiable positions in several AIM-quoted companies, and is the Company's largest shareholder, holding an aggregate interest in its shares of approximately 18%.

Hedley Clark is a Fellow of the Institute of Chartered Accountants in England and Wales. After nine years working in private practice, the last five at KPMG, he left to take up senior financial and management roles in various companies where he gained a wealth of international business experience. This included two successful start-ups. For the last 11 years, Mr Clark's principal role has been as the managing director of Credence Background Screening Limited, a successful background screening company which, since his initial involvement in 2009, has seen significant revenue and profits growth.

Matthew Beardmore is a practising solicitor and commercial manager. He has acted on many investments, commercial transactions, property transactions and major projects amounting to several billion pounds during his career. Mr Beardmore was previously a non-executive director of AIM-quoted lnfraStrata plc, where he was instrumental in both completing and managing the company's EU grant applications.

Additional Disclosures

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules of Companies.

Mr Rupert Labrum (aged 53) has held the following current and former directorships in the past five years:

Current Directorships	Former Directorships in the past five years
-	Insetco Plc

Mr Rupert Labrum holds 25,667,823 ordinary shares in the Company.

Mr Hedley Stuart Clark (aged 58) has held the following current and former directorships within the past five years:

Current Directorships	Former Directorships in the past five years
Credence Background Screening Limited	Millwall Lionesses Football Club Limited
Garancie Limited
Jigoshop Limited
Jigoshop Ecommerce Limited

Mr Hedley Clark holds 511,000 ordinary shares in the Company.

Mr Matthew Paul Beardmore (aged 42) has held the following current and former directorships within the past five years:

Current Directorships	Former Directorships in the past five years
-	InfraStrata Plc
-	InfraStrata UK Limited

Mr Matthew Beardmore holds 100,000 ordinary shares in the Company.

Save as set out above, no further information regarding Rupert Labrum, Hedley Clark or Matthew Beardmore is required to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Primorus Investments plc:	[phone]
Alastair Clayton
Nominated Adviser:	[phone]
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson
Broker:	[phone]
Turner Pope Investments
Andy Thacker / Zoe Alexander

 

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