19 Jul 2021 07:01
NAPSTER GROUP PLC
("NAPS" or the "Company")
Board Changes
Napster (AIM: NAPS), a leading music company, is pleased to announce the appointment of Lansing ("Lanse") Davis and Peter Read as Non-Executive Directors of the Company with immediate effect. In addition, Andy Botha has also today resigned from the Board to pursue his other commitments.
Mr. Davis has spent nearly 20 years in the investment management sector, having commenced his career at Lord, Abbett & Co. LLC before founding his own asset management and advisory firm, Davis Capital Partners LLC in 2008. Lanse is currently the Managing Principal of Davis Capital Partners in addition to holding a number of advisory positions at US non-profit organisations and is the treasurer of the S&G Foundation a charitable organisation that raises funds for a variety of social issues such as education and the environment.
Mr. Read qualified as a fellow of the ICAEW in 1979, beginning his career at KPMG where he worked for 37 years. Having started out in audit, he also specialised in due diligence and financial reporting. Mr Read became a partner in 1990, focusing on Shipping and Telecoms, Media, and Technology ("TMT"). In 1996 Mr Read became Head of the UK Shipping Practice and in 2003 he became Head of the UK TMT Practice. In 2008, Mr Read was appointed to the roles of Chairman of UK TMT at KPMG and of their European Japanese Practice, both of which he held until he retired from the partnership in 2013. Presently, Mr Read is a non-executive director for, and chairs the Audit Committees of, several entities including Hafnia Ltd, Welbeck Publishing Group Ltd, the Professional Cricketers' Association, the Royal Automobile Club, the RAC Foundation and the Jaguar Daimler Heritage Trust. Mr. Read previously served as a Non-Executive Director of MelodyVR PLC from 2015 to 2017.
Anthony Matchett, CEO of Napster, said:
"I am delighted to welcome Lanse to the Board who brings with him a wealth of financial experience. and would like to welcome Peter back to the Board, his experience at KPMG and subsequent board positions will further strengthen the governance and oversight of our non-executive directors. Finally, on behalf of the Board I would like to thank Andy for his time and commitment to Napster and whose input has been invaluable over the past three years. We wish him well on his future endeavours"
For further information please contact:
Napster Group PLCAnthony Matchett, Group CEO
| email@napster.group |
finnCap Ltd (Nominated Advisor and Broker) Corporate Finance: Marc Milmo, James Thompson, Milesh Hindocha ECM: Tim Redfern, Sunila de Silva
| Tel: +44 (0) 20 7614 5900 |
Equitory (Public Relations)Clara Melia/Geoff Callow
| napster@equitory.com |
www.melodyvr.com www.napster.com |
INFORMATION REQUIRED UNDER SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")
Full name: | Lansing (Lanse) Alden Davis |
Age | 42 |
Napster shares held: | 249,171,192 (held through Davis Capital Partners LLC) In addition, Davis Capital Partners LLC holds warrants over 398,009,950 Napster shares
|
Current directorships: | Shelby Cullom Davis Charitable Fund S&G Foundation Davis Capital Partners, LLC Davis Capital Global Frontier Opportunities, LLC Accial Capital
|
Historic directorships from previous 5 years: | Clearsurance LLC Southern States Bancorp Inc. Capital Pacific Bancorp Inc.
|
There is no further information to be disclosed in relation to the appointments of Lanse Davis pursuant to Schedule 2, paragraph (g) of the AIM Rules.
Full name | Peter Graham Read |
Age | 65 |
Napster shares held | 3,137,254 Ordinary Shares (held though Mr Read's pension fund) |
Current directorships:
| Hafnia Limited Welbeck Publishing Group Limited Royal Automobile Club RAC Foundation for Motoring Limited Jaguar Daimler Heritage Trust QM Capital Partners Limited P.C.A Management Limited
|
Historic directorships from previous 5 years:
| Quarto Group Inc (The) Motorsport UK Limited Quayle Munro Holdings Limited QM Advisory Limited Concha Limited Billion Dollar Lottery PLC Napster Group PLC Norfolk House Residents Limited Future Fuels No.1 LLP |
Mr. Read was a director of Concha Limited and Billion Dollar Holdings PLC, at the time of each company's voluntary liquidation. In each case there was no loss to creditors. Mr. Read is a director of QMM Holdings Limited which is currently in liquidation and there is expected to be no loss to creditors.
There is no further information to be disclosed in relation to the appointments of Peter Read pursuant to Schedule 2, paragraph (g) of the AIM Rules.