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DJ High Growth Capital PLC Management Appointments & Board Changes

TIDMHASH

RNS Number : 2713Y

High Growth Capital PLC

08 May 2019

8 May 2019

High Growth Capital plc

("HGC" or the "Company")

Appointment of Executive Management Team & Board Changes

HGC's vision is to incubate and unite emerging technology brands that are conceived to provide people with more meaningful experiences. In order to support this strategy, the Company is pleased to announce the following initiatives.

Appointment of Executive Management Team

The Company has appointed the following experienced executives to key operational positions. These are not Board appointments.

Anne Stratford, Chief Legal & Commercial Officer

Anne has 20 years' experience in the financial services sector. She spent three years post qualification as a solicitor with Slaughter and May, before moving in-house with Cantor Fitzgerald, where she was ultimately appointed Chief Operating Officer of the retail derivatives division. She held this position for five years through the challenges of the global financial crisis and the following period of intense regulatory change and scrutiny.

Anne owns 5,000,000 ordinary shares of nominal value of 0.1 pence each in the capital of the Company ("Ordinary Shares"), being approximately 0.11% of the issued capital. As disclosed by the Company on 29 April 2019, Anne is a person discharging managerial responsibility in the Company. She owns 25 million warrants with an exercise price of 1.25 pence per Ordinary Share exercisable after 30 November 2019 and 50 million warrants with an exercise price of 1.75 pence per Ordinary Share, exercisable after 31 March 2020.

Tom Vandendooren, Chief Marketing & Strategy Officer

Tom joins the Company from Sentiance N.V. where he has been Chief Business Development Officer since 2016, focused on the Asia market. Prior to Sentiance, Tom held a number of senior commercial positions across a variety of industries and technology sectors, in both international corporate and start-up companies. Before joining Sentiance, Tom spent 11 years with Microsoft as regional business group lead in respect of multiple product lines.

Tom currently owns 102,250,000 Ordinary Shares, being approximately 2.35% of the issued capital. As part of his appointment, Tom has been issued with 50 million warrants with an exercise price of 1.8 pence per Ordinary Share, exercisable 40% after year one, and 30% after years 2 and 3, respectively.

Michael Kogeler, SVP Technology & Operations

Michael joins the Company from Intralot S.A., a global leader in the gaming industry, where he was the Group COO responsible for global operations, the technology roadmap and the overall business growth strategy. Before Intralot, Michael worked for over 14 years at Microsoft where he held various executive international management and business strategy roles. His 26 years of overall professional experience also include working for companies like McKinsey & Company, KPMG and IBM Consulting. Michael brings a wealth of experience in building operations at a global scale and driving partnerships in fast-growing, emerging technologies and content driven businesses.

Pursuant to his appointment, Michael has been granted 25 million warrants following his appointment with an exercise price of 1.8 pence per Ordinary Share, exercisable 40% after year 1 and 30% after years 2 and 3, respectively.

Manjit Ram, Interim Finance Director

Manjit joins the Company with immediate effect, initially on an interim basis until the end of calendar 2019. Manjit has extensive capital markets, accounting and treasury function experience. Previously Manjit worked for 16 years at Man Financial, followed by a period as Head of Foreign Exchange and Treasury at SocGen Corporate and Investment Banking in London. Manjit is a member of the Chartered Institute of Management Accountants (CIMA).

Rupert Horner, current Finance Director and Board member will ensure that an orderly handover to Manjit is completed in timely fashion.

Retirement of Directors

The Company's ambitious and challenging business plan requires significant time commitment from the Directors going forward. It is anticipated that over the next year additional Board members with international and complementary skill sets will be appointed, including a senior independent Non-Executive Director. As a result, it has been decided that Rupert Horner and Marcus Yeoman will retire from the Board upon completion of the Company's upcoming annual general meeting on 15 May 2019 (the "AGM"). The current resolutions in the Company's notice of AGM dated 23 April 2019 for their re-appointment are therefore withdrawn. For the avoidance of doubt, the withdrawal of these AGM resolutions has no effect on the placing with Mirador which was announced on 29 April 2019 and anticipated to close, subject only to all other AGM resolutions being passed, shortly after completion of the AGM.

On the 29 April 2019, the Company provided an overview of the Directors' holdings of Ordinary Shares, options and warrants. Those details should have included a warrant issued to Marcus Yeoman on 8 September 2014 with the right to acquire 507,907 Ordinary Shares at a price of 2.95 pence per Ordinary Share with an expiry date of 8 September 2019.

The person who arranged for the release of this announcement on behalf of the Company was Mark De Smedt, CEO.

Commenting on today's executive team appointments and Board changes, Mark De Smedt CEO said: "With the appointments of Anne, Tom, Michael and Manjit we begin in earnest the process of adding tangible proven skill sets, agility and international experience to our organisation. Our forward journey is exciting and challenging at the same time. It is clear to me that in order to succeed, the human capital element of our business will ultimately prove to be a crucial if not deciding factor.

On behalf of the Board I would like to express my thanks to Rupert and Marcus for their contribution during their time as Directors and wish them well in the future."

Contact details:

 
                            Jens Zimmermann 
 The Company                 Mark De Smedt          +44 (0)207 583 4055 
 Whitman Howard 
  NEX Exchange Corporate    Nick Lovering 
  Adviser                    Christopher Furness    +44 (0)207 659 1234 
                           ----------------------  -------------------- 
                            Hilary Buchanan 
 Alma PR                     Caroline Forde         +44 (0)203 405 0205 
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May 08, 2019 02:00 ET (06:00 GMT)