Last checked at 20 Mar 2018 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
DE LA RUE PLC
Directorate Change
20 March 2018
De La Rue plc ("De La Rue" or the "Company"), the world's leading security and anti-counterfeiting provider for banknotes, personal identity and brand protection, today announces that Jitesh Sodha, Chief Financial Officer, has informed the Board of his intention to step down to pursue his career outside of the Company.
Jitesh resigns as a Director with immediate effect but will remain in the business until the end of September 2018 in order to ensure an orderly transition while a suitable successor is identified.
Separately, the Board expects to update the market on the outturn for the year in the third week of April, and is currently expecting the result to be around the lower end of the current consensus range.
Martin Sutherland, Chief Executive Officer of De La Rue said:
"Jitesh has been a valued member of De La Rue's management team. He has been instrumental in the execution of our strategic plan to diversify our business. I would like to thank Jitesh for his support and contributions during his tenure and wish him every success in the future."
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
The person responsible for the release of this announcement on behalf of De La Rue plc is Ed Peppiatt (General Counsel and Company Secretary).
*The market consensus of underlying operating profit for the financial year ending 31 March 2018 ranges between £71m and £73.4m. The consensus data can be found in the Investors section of our website www.delarue.com
Enquiries:
De La Rue plc +44 (0)1256 605000
Martin Sutherland Chief Executive Officer
Lili Huang Head of Investor Relations
Brunswick +44 (0)207 404 5959
Katharine Spence
Stuart Donnelly
About De La Rue
De La Rue's purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organisations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods.
As the world's largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system. De La Rue is the only integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting.
De La Rue is the world's largest commercial designer and printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual.
De La Rue also creates and delivers secure product identifiers and 'track and trace' software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties.
De La Rue is listed on the London Stock Exchange (LSE:DLAR). For further information visit www.delarue.com