Board changes

RNS Number : 7349R

XP Factory PLC

07 July 2022

 

The following amendment has been made to the 'Board changes' announcement released on 29 June 2022 at 7.00am under RNS No 5335Q: "Yum! Restaurants Europe Limited" has been included as a historic directorship of Martin Shuker. All other details remain unchanged.

The full amended text is shown below.

XP Factory Plc

("XP Factory", the "Company" or the "Group")

Board changes

XP Factory (AIM: XPF), a group of leading UK experiential leisure businesses operating under the Escape Hunt™ and Boom Battle Bar™ brands, is pleased to announce the appointments of Martin Shuker as Senior Independent Non-Executive Director of the Company and Philip Shepherd as independent Non-Executive Director of the Company with effect from the conclusion of the Company's Annual General Meeting to be held later today ("AGM"). In addition, Karen Bach will be stepping down as the Company's Senior Independent Non-Executive Director upon the appointments of Martin Shuker and Philip Shepherd.

Martin Shuker

Martin has had a long and distinguished career with Yum Brands, the US Fortune 500 Global hospitality business. He spent 24 years in a variety of leadership roles, most recently as Managing Director KFC Western Europe where he had full strategic, growth and operational responsibility over 1,700 restaurants and 165 franchisees which generated £2.3 billion in sales and £120 million of profit.

As MD of KFC UK, he more than doubled sales to £1.3 billion and met or exceeded targets in 11 of 13 years.

Martin has demonstrated his ability in consistently achieving growth and bottom-line performance of established owner-operated and franchise businesses over a long period of time and has relevant experience in entering new territories through franchise routes. He successfully opened new markets in a number of European countries and has demonstrated his ability to both manage an established franchise network as well as establishing new networks in new territories.

Prior to YUM, Martin had a variety of marketing roles with United Biscuits.

Following his appointment, Martin will chair the Company's Remuneration Committee.

Philip Shepherd

Philip is a former partner of PricewaterhouseCoopers ("PwC"), where he originally trained in audit and tax, qualifying as an ACA in 1987.  

Following a career in corporate finance and transaction advisory services, Philip returned to PwC in 2004 working both in the UK and overseas, leading Strategy and Deals practices, with a particular focus on the hospitality and leisure sectors. Since leaving PwC in 2018, he has held a number of board and advisor roles, again with a focus on hospitality and leisure. He regularly travels abroad where he advises, and speaks, on the experiential leisure market and start up opportunities. Philip combines his experience in accounting and audit with deal evaluation and execution, and has a deep understanding of the hospitality and leisure markets both in the UK and globally.

Following his appointment, Philip will chair the Company's Audit Committee.

Karen Bach

As set out above, Karen, who has served as the Senior Independent Non-Executive Director on the Board for a number of years, will be stepping down upon the appointment of Martin and Philip in order to pursue a number of other board and advisory opportunities. As a result of this announcement, the resolution to re-elect Karen Bach as a director of the Company at the AGM will be withdrawn. Karen has made a valuable contribution to the Board and as Chair of the Audit Committee.

Commenting on the Board changes, Richard Rose, Chairman of XP Factory plc, said: "We are delighted that Martin Shuker and Philip Shepherd have agreed to join our Board. Their respective experience and skill sets bring an additional dimension to the Board and will provide significant value to our strategic thinking, operational success and board governance.  I would also like to thank Karen Bach for her tremendous support of the Company over the last four years and wish her well in the many other ventures in which she is involved."

Further information in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies ("AIM Rules") is set out at the end of this announcement.

Enquiries:

XP Factory Plc https://www.xpfactory.com/ Richard Harpham (Chief Executive Officer) Graham Bird (Chief Financial Officer) Kam Bansil (Investor Relations)	[phone]
Shore Capital, NOMAD and Broker https://www.shorecap.co.uk/ Tom Griffiths/David Coaten (Corporate Advisory)	[phone]
IFC Advisory - Financial PR  https://www.investor-focus.co.uk/ Graham Herring Florence Chandler	[phone]

Notes to Editors:

About XP Factory plc

The XP Factory Group is one of the UK's pre-eminent experiential leisure businesses which currently operates two fast growing leisure brands.  Escape Hunt is a global leader in providing escape-the-room experiences delivered through a network of owner-operated sites in the UK, an international network of franchised outlets in five continents, and through digitally delivered games which can be played remotely. 

Boom Battle Bar is a fast-growing network of owner-operated and franchise sites in the UK that combine competitive socialising activities with themed cocktails, drinks and street food in a high energy, fun setting.  Activities include a range of games such as augmented reality darts, Bavarian axe throwing, 'crazier golf', shuffleboard and others.  The Group's products enjoy premium customer ratings and cater for leisure or teambuilding, in small groups or large, and are suitable for consumers, businesses and other organisations. The Company has a strategy to expand the network in the UK and internationally, creating high quality games and experiences delivered through multiple formats and which can incorporate branded IP content. ( https://xpfactory.com/ )

Facebook:   EscapeHuntUK  BoomBattleBar

Twitter:   @EscapeHuntUK  @boombattlebar

Instagram:   @escapehuntuk    @boombattlebar

INFORMATION REQUIRED UNDER SCHEDULE TWO, PARAGRAPH (G) OF THE AIM RULES

Full name:	Martin Raymond Francis Shuker
Age	59
XP Factory plc ordinary shares held:	0
Current directorships/partnerships:	None
Historic directorships/partnerships (within previous 5 years):	Kentucky Fried Chicken (Great Britain) Limited
	Kentucky Fried Chicken (Great Britain) Limited, German Branch KFC Italy S.r.l. Yum! Restaurants Europe Limited
Full name:	Philip Anthony Shepherd
Age	59
XP Factory plc ordinary shares held:	0
Current directorships/partnerships:	85 Winchester Street Management Company Limited
	CFT Enterprises Limited
	CFT Productions Limited
	Chichester Festival Theatre
	Culture 24
	Hilton Parker Limited
	North Drive Maintenance Limited
Historic directorships/partnerships (within previous 5 years):	PricewaterhouseCoopers LLP

There is no further information to be disclosed in relation to the appointments of either Martin Shuker or Philip Shepherd pursuant to Schedule Two, paragraph (g) of the AIM Rules.

 

END

 

 

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