PHTM.L Regulatory News (PHTM)

23 June 2021

Photo-Me International plc

("Photo-Me", "the Company", or "the Group")

Board Changes

Photo-Me International plc, the instant-service equipment group, today announces changes to its Board of Directors ("the Board").

The Company is pleased to announce four new appointments: Tania Crasnianski as an Executive Director, and Camille Claverie, René Proglio and Sigieri Diaz della Vittoria Pallavicini as Non-executive Directors. All appointments are effective immediately.

Appointment of Executive Director

Tania Crasnianski has been an independent legal adviser for the past seven years and prior to that held the role of Head of Global Investments at Stratford Capital between 2006-2014. Ms Crasnianski spent 12 years in the legal field; having worked in that time as a Criminal Lawyer for SCP Versini-Campinchi & Associés, Paris. Ms Crasnianski joined the Group on 1 June 2020 as head of legal and general secretary, and shortly thereafter took over the supervision of the Group's entities in Germany and Austria.

She will join the Board as an Executive Director where she will continue to be responsible for the areas mentioned above.

Appointment of three Non-executive Directors

Camille Claverie is a Director at Montefiore Investment where her responsibilities cover deal origination, and execution and investment monitoring to support companies and management teams in their growth plans. Ms. Claverie has previously held roles at Sagard, latterly as Principal, and at Morgan Stanley. The Board considers Ms Claverie to be non-independent because she works for Montefiore Investment which currently holds 9.8% of the issued share capital of Photo-Me.

René Proglio worked at Morgan Stanley for 17 years and during that time he held senior roles, including as Managing Director (2004-2007) and as Head of Investment Banking (2008-2010). Before this, he was a Partner at Ernst & Young. The Board considers Mr Proglio to be independent. He will join the Audit Committee with immediate effect.

Sigieri Diaz della Vittoria Pallavicini is the founder and managing partner of Italian private equity firm Armònia SGR. For 15 years Mr. Pallavicini was the founder CEO and Chairman of GWM Financial Group and he was CEO of Greentech Energey Systems A.S, a Danish renewable energy company. During his career, Sigieri has worked in several financial institutions including Morgan Stanley, Lehman Brothers, Merrill Lynch and JP Morgan. The Board considers Mr Diaz della Vittoria Pallavicini to be independent.

John Lewis, Non-executive Chairman, said:

"I am delighted to welcome Tania, Camille, René and Sigieri to the Board of Photo-Me. The Board has been working hard to refresh its membership for some time and it believes that the new appointments bring a wealth of skillsets and experience as the Company continues to drive its growth strategy."

Additional Information

In accordance with Listing Rule 9.6.15, it is confirmed that there are no other details to be disclosed in respect of the new appointees pursuant to Listing Rule 9.6.13. 

ENQUIRIES

Notes to Editors

Photo-Me International plc (LSE: PHTM) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.

The Group operates vending units across 17 countries and its technological innovation is focused on three principal areas:

The Group entered the self-service fresh fruit juice equipment market in April 2019, with the acquisition of Sempa. This will become a key business area alongside Identification, Laundry, and Kiosks, and will be a significant part of the Group's future growth strategy.

In addition, the Group operates other vending equipment such as children's rides, amusement machines, and business service equipment.

Whilst the Group both sells and services this equipment, the vast majority of units are owned, operated and maintained by Photo-Me. Photo-Me pays the site owner a commission based on turnover, which varies depending on the country, location and the type of the machine.

The Group has built long-term relationships with major site owners and its equipment is generally sited in prime locations in areas of high footfall such as supermarkets, shopping malls (indoors and outdoors), public transport locations, and administration buildings (City Halls, Police etc.). Equipment is maintained and serviced by an established network of 650 field engineers.

Photo-Me's shares have been listed on the London Stock Exchange since 1962.