Directorate Change

RNS Number : 7715H

SAGA PLC

02 December 2015

 

2 December 2015

Saga plc

Change of Directors

Saga plc ("the Company") announces that Pev Hooper and Charles Sherwood, both Non-Executive Directors, will step down from the Board of Directors of the Company with immediate effect.

Their resignations are the result of the share placing undertaken by Acromas Bid Co Limited on 1 December 2015. Following this placing, the indirect shareholding in the Company of the private equity investors they represent, CVC Capital Partners (Pev) and Permira Advisers (Charles), fell below 10%. This is in accordance with the Relationship Agreement dated 8 May 2014. 

The Board would like to express its gratitude to Pev and Charles for their significant contribution to the Company and wishes them well for the future. 

End

Enquiries

Saga plc

Vicki Haynes, Company Secretary                                            Tel: [phone]

Enbrook Park

Sandgate

Folkestone

Kent

CT20 3SE

 

END

 

 

BOABSBDDDSGBGUD