Last checked at 25 Aug 2022 08:42
25 August 2022
Naked Wines plc
("Naked", the "Group" or the "Company")
Board Appointment
Naked Wines is pleased to announce that Pratham Ravi will join the Board with immediate effect as a Non-Executive Director.
Pratham is an analyst with Punch Card Capital L.P., a long-term oriented investment partnership based in Winter Park, Florida. Punch Card is one of the Company's largest shareholders, holding ~10% of outstanding shares. Pratham will bring important insight to the Board, contributing his unique perspective during the next phase of the Company's growth. Prior to joining Punch Card, Pratham worked as an analyst with Lanyon Asset Management and Sandon Capital. He has over ten years of investing and capital markets experience.
Due to his relationship with Punch Card Capital, Pratham will be considered to be non-independent. As a result of Pratham's appointment Punch Card Capital has agreed to not trade in Naked Wines shares during any period when company insiders are also restricted.
Darryl Rawlings, Chairman, commented:
I would like to welcome Pratham to the Naked board as we continue to chart a course for responsible, sustainable growth. I was delighted that he accepted my request to join the team following insightful discussions between us since I joined the Group. His unique experience will bring additional strategic breadth to the company built on a shared belief in our differentiated offering for winemakers and for consumers.
Pratham Ravi (30) has held no directorships in the past five years.
Pratham Ravi does not directly hold any shares in the Group. He is an employee of Punch Card Capital L.P., which owns 7,394,159 shares as of the date of this announcement. There are no other matters which are required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
For further information, please contact:
Naked Wines plc
Nick Devlin, Chief Executive Officer
Investec (NOMAD & Joint Broker)
David Flin / Carlton Nelson / Ben Farrow Tel: 0207 597 5970
Jefferies (Joint Broker)
Ed Matthews / David Genis / Harry Clements Tel: 0207 029 8000
About Naked Wines plc
Naked Wines connects everyday wine drinkers with the world's best independent winemakers.
Why? Because we think it's a better deal for everyone. Talented winemakers get the support, funding and freedom they need to make the best wine they've ever made. The wine drinkers who support them get much better wine at much better prices than traditional retail.
It's a unique business model. Naked Wines customers commit to a fixed prepayment each month which goes towards their next purchase. Naked in turn funds the production costs for winemakers, generating savings that are passed back to its customers. It creates a virtuous circle that benefits both wine drinker and winemaker.
Our mission is to change the way the whole wine industry works for the better. In the last year, we have served more than 960,000 Angel members in the US, UK and Australia, making us a leading player in the fast-growing direct-to-consumer wine market.
Our customers (who we call Angels) have direct access to 266 of the world's best independent winemakers making over 2,500 quality wines in 20 different countries. We collaborate with some of the world's best independent winemakers like Matt Parish (Beringer, Stags' Leap) and 8-time Winemaker of the Year Daryl Groom (Penfolds Grange).