Last checked at 27 Oct 2022 13:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated by the Market Abuse Regulation (EU) No.596/2014, as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
27 October 2022
DE LA RUE PLC ANNOUNCES GENERAL MEETING
De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") confirms that it has received a request from Crystal Amber Fund Limited ("Crystal Amber") for the Company's Chairman, Kevin Loosemore to resign with immediate effect.
The Board has engaged with Crystal Amber on a number of occasions to understand its concerns and so is disappointed that it has chosen to pursue this course of action, particularly in light of the overwhelming support (97.8%) received from shareholders for the re-election to the Board of Kevin Loosemore at the Company's Annual General Meeting held earlier this year on 27 July 2022.
The Company, led by CEO Clive Vacher, continues to execute its strategy and will provide an update on progress made at the time of its interim results due to be announced on 23 November 2022.
The Company will shortly be sending out a notice to its shareholders convening a general meeting to be held on Friday 2 December 2022, where the Company will put to shareholders whether Mr Loosemore should continue as Chairman.
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc | +44 (0) 7990 337707 |
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Clive Vacher | Chief Executive Officer |
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Rob Harding | Chief Financial Officer |
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Louise Rich | Head of Investor Relations
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Brunswick | +44 (0)207 404 5959 |
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Stuart Donnelly
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Ed Brown | |||
The person responsible for the release of this announcement on behalf of De La Rue for the purposes of MAR is Rob Bellhouse (Company Secretary).
About De La Rue
De La Rue plc's purpose is to secure trust between people, businesses and governments. As a trusted partner of governments, central banks and commercial organisations seeking to secure their global supply chains and cash cycles, De La Rue provides highly secure physical and digital solutions that underpin the integrity of economies and trade.
De La Rue's Currency division provides market-leading end-to-end currency solutions, from finished banknotes to secure polymer substrate and banknote security features to over half the central banks and issuing authorities around the world.
Our Authentication division protects revenues and reputations through the provision of physical and digital solutions to governments and commercial organisations. We also manufacture financial documents and ID security components.
De La Rue's 2,300 employees work with organisations in more than 140 countries, leveraging the group's manufacturing facilities in the UK, US, Malta, Sri Lanka and Kenya.
De La Rue's shares are traded on the London Stock Exchange (LSE:DLAR). For further information please visit www.delarue.com.
Cautionary note regarding forward-looking statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "may", "will", "could", "shall", "risk", "aims", "predicts", "continues", "assumes", "positioned" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors, De La Rue or the Group concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth and strategies of De La Rue and the industry in which it operates.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company. Past performance cannot be relied upon as a guide to future performance and should not be taken as a representation or assurance that trends or activities underlying past performance will continue in the future. Accordingly, investors or potential investors should not place undue reliance on these forward-looking statements. The Group's actual results of operations, financial condition, liquidity and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in this announcement. In addition, even if the results of operations, financial condition and liquidity of the Group and the development of the industry in which it operates, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.
Other than in accordance with its legal or regulatory obligations, De La Rue does not undertake any obligation to update these forward-looking statements, which speak only as at the date of this announcement, and will not publicly release any revisions that may be made to these forward-looking statements, which may result from events or circumstances arising after the date of this announcement.