Board Changes

RNS Number : 9318D

Loungers PLC

01 July 2019

 

Loungers plc

("Loungers" or the "Company")

Board Changes

Loungers, the operator of 150 café / bar / restaurants across England and Wales which trade under the Lounge and Cosy Club brands, announces that Robert Darwent has been appointed to the Company's board of directors (the "Board") as a Non-Executive Director with immediate effect.

Robert, a founding partner and member of the investment committee at Lion Capital LLP ("Lion"), replaces James Cocker as Lion's Board representative following James's departure from Lion. As a result, James Cocker has resigned from the Board with immediate effect.

The Board would like to place on record its thanks to James for his contribution to the growth of the Company since Lion first invested in 2016 and to wish him well in his future endeavours.

Funds managed by Lion are interested in 38.63 per cent. of the issued ordinary share capital of the Company. Robert Darwent is not considered by the Board to be an independent director.

For further information please contact:

Loungers plc Nick Collins, Chief Executive Officer Gregor Grant, Chief Financial Officer	Via Instinctif Partners
GCA Altium Limited (Financial Adviser and NOMAD) Sam Fuller / Katherine Hobbs / Tim Richardson	Tel: [phone]
Liberum Capital Limited (Joint Broker) Clayton Bush / Andrew Godber / John Fishley	Tel: [phone]
Peel Hunt LLP (Joint Broker) Dan Webster /George Sellar	Tel:  [phone]
Instinctif Partners (Financial Public Relations) Justine Warren / Matthew Smallwood	Tel: [phone]

Additional information on Robert Darwent, Non-Executive Director

Robert Darwent, aged 46, has held the following directorships or been a partner in the following partnerships within the last five years:

Current Directorships / Partnerships	Previous Directorships / Partnerships (last five years)
Lion Capital LLP
Cottesmore Partners LLP	Loungers UK Limited
Spence Diamonds Holdings Limited	Loungers Holdings Limited
Authentic Brands Group LLC	Hema B.V.
Lenny & Larry's LLC	Dutch Lion B.V.
GRNA Holdings Inc. Marlin 1 Limited	Lion Adventure Cooperatief U.A. Lion Adventure Holdings B.V.
Leo Holdings Corp.	Latimer Newco 2 Limited (dissolved)
Blow Limited
Integrated Health Partners Limited
Lion Capital General Partner LLP
Lion Capital General Partner II LLP
Lion Capital General Partner III LLP
Lion Capital Carry L.P.
Lion Capital Carry II L.P.
Lion Capital Carry III L.P.
Lion Capital Fund IV L.P.
Lion Capital Fund II SBS, L.P.
Lion Capital Fund III SBS, L.P.
Lion Capital Fund III SBS (USD) L.P.
Lion Capital Fund IV SBS, L.P.
Lion Capital Fund IV SBS (USD) L.P.
Lion Capital Ventures L.P.

Robert Darwent was a director of La Senza Limited when it was placed into receivership on 10 January 2012. Secured creditors and preferential creditors were repaid in full. The shortfall to unsecured creditors was £23,779,533.  

Save as disclosed above, Robert Darwent has confirmed that there are no further details to be disclosed pursuant to Schedule Two Paragraph (g) of the AIM Rules for Companies. 

 

END

 

 

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