2 May 2017
FIH Group plc
("FIH" or "the Company")
Share transaction, director dealing and changes to the Board
The Board of the Company (the "Board") has been informed that following a transaction in the ordinary shares of 10p each in the Company ("Ordinary Shares"), Blackfish Capital Alpha Fund SPC ("Blackfish") and Staunton Holdings Limited ("Staunton") hold no interest in the Company and that The Article 6 Marital Trust created under the First Amended and Restated Jerry Zucker Revocable Trust dated 4-2-07 ("The Article 6 Marital Trust""), now has a beneficial holding of 3,596,553 Ordinary Shares, representing 28.92% of the Company's issued share capital.
The Article 6 Marital Trust, a long-term shareholder in FIH, has provided certain assurances to the Board as to its intentions. In particular, it has stated its support for the long term growth of the business and its subsidiaries, as a London quoted company.
Following the exit of Blackfish and Staunton as shareholders Edmund Rowland, who is connected to both Blackfish and Staunton, has stepped down as the chairman of FIH with immediate effect. Jeremy Brade, a current independent non-executive director of FIH, has agreed to act as interim chairman whilst a new independent, non-executive chairman is sought. Edmund Rowland has agreed to remain on the Board as a non-executive director until a further board appointment has been made. The Board has commenced the process of identifying and appointing one or more new non-executive directors, including the aforementioned new independent, non-executive chairman. Further announcements relating to this exercise will be made in due course.
The independent directors would like to thank Edmund Rowland for fulfilling the role of chairman of the Company for the past two years. Furthermore, the independent directors welcome The Article 6 Marital Trust's commitment to the Company.
ENDS
Further enquiries: |
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FIH Group plc |
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Tel: +44 (0) 1279 461 630 |
John Foster |
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WH Ireland Limited |
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Tel: +44 (0) 20 7220 1666 |
Nominated Adviser and Broker to FIH |
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Adrian Hadden |
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Nick Prowting |
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FTI Consulting |
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Tel: +44 (0) 20 3727 1000 |
Communications adviser to FIH |
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Edward Westropp |
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Eleanor Purdon |
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Edmund Rowland |
2 |
Reason for the notification |
a) |
Position/status |
Chairman, FIH group plc |
b) |
Initial notification/ Amendment |
Initial Notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
FIH group plc |
b) |
LEI |
N/A |
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10p each GB00BD0CWJ91 |
b) |
Nature of the transaction |
Purchase of shares |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
300p |
3,106,553 |
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d) |
Aggregated information - Aggregated volume - Price |
· Purchase of 291,373 Ordinary Shares at 300p on 21 February 2017 through Staunton · Sale of 3,106,553 Ordinary Shares at 300p on 28 April 2017 |
e) |
Date of the transaction |
28 April 2017 |
f) |
Place of the transaction |
London Stock Exchange, AIM |
