REDDE PLC - Directorate Change
PR Newswire
London, May 1
•News Release•
Redde plc
("Redde" or "Group")
Issue Date: 1 May 2019
Directorate change
Redde announces that the board was informed today that Avril Palmer-Baunack has given three months' notice of her intention to leave the board as its non-executive chairman. This is for reasons based around Avril's existing time commitments. Redde will therefore start an immediate search for a successor.
Avril said, "Given the increasing demands on my time I have reluctantly come to the conclusion that it is in Redde's best interests that I resign as its Chairman. Redde is a great business, I have truly enjoyed my time on the board and I wish the board and the business all the best for the future."
Martin Ward said, "Avril was very instrumental in reshaping the Group's business and has been a very supportive Chairman over the last 8 years. I admire her determination at getting things done and have valued the time we have shared together. I am sure this decision was made with a heavy heart and I and the board wish Avril all the best with her future plans. I am also confident that, given recent trading performance, the Group remains on track to meet current market expecations for this financial year.
The information contained within the announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
| For further information, contact: |
| Redde plc | Tel: 01225 321134 |
| Martin Ward, Chief Executive Officer | |
| Stephen Oakley, Chief Financial Officer | |
| Cenkos Securities plc (Nominated Adviser and Joint Broker) | Tel: 020 7397 8900 |
| Giles Balleny Mark Connelly Harry Hargreaves | |
| N+1 Singer Capital Markets Limited (Joint Broker) | Tel:0207 496 3000 |
| Mark Taylor | |
| Square1 Consulting | Tel: 020 7929 5599 |
| David Bick |
Notes for editors
About Redde plc:
Founded in 1992 and working predominantly with insurance companies, insurance brokers and prestige motor dealerships, the Group provides a range of accident management and legal services. The Group also deals directly with large national fleets providing incident management and mobility continuity and the Group's activities also encompass a range of legal services designed to assist claimant parties in partnership with leading insurance companies, brokers and other bodies.
The Group is one of the market leaders in its fields of business; it delivers accident management solutions to motorists ensuring that they remain mobile until their own vehicles are repaired or until they are put in a position to obtain a replacement and it provides legal services ensuring that they are properly compensated for their injuries and losses. Legal services also include wills and probate, family law and employment law advice.
The name Redde is associated, in Latin, with the concept of restoration.
