Forthcoming Board Changes

23 May 2024

Ramsdens Holdings PLC

("Ramsdens", the "Group", the "Company")

Forthcoming Board Changes

Ramsdens, the diversified financial services provider and retailer, announces the following Board changes as part of its succession planning.

Andrew (Andy) Meehan, who has been Non-Executive Chair of the Group since September 2014 has notified the Board of his intention to step down and will not seek re-election at the Group's next AGM, expected to be in March in 2025. 

At the same time, we are pleased to announce that Simon Herrick, currently the Group's Senior Independent Director, who joined the Board in 2017 will become Non-Executive Chair when Andy steps down next year.

The Board would like to express its appreciation to Andy for his invaluable contributions to the Company over the last decade. Andy joined Ramsdens when Peter Kenyon led a management buyout from the Smith family, backed by NorthEdge Capital LLP. He has overseen the successful transition of Ramsdens from a family owned business, to a PE backed business and now 7 years quoted on AIM. During this time on AIM, the Group has increased profit before tax from £4m to over £10m and grown the net assets of the business from £23m to £48m.

A recruitment process will now commence for a new Non-Executive Director to further widen the skills and experience of the Board.

Andy Meehan said: "It has been an extraordinary privilege to Chair this business over the last 10 years. Ramsdens has a very talented team of people and I have enjoyed assisting in the Group's development. I am very pleased that Simon will succeed me as Chair in due course and am confident that he will continue to drive this outstanding business forward."

Simon Herrick said: "Andy has chaired the business very successfully through an ever‐changing economic landscape including the unprecedented period of uncertainty caused by the Covid-19 pandemic. I am honoured and excited to have the opportunity to become Chair of Ramsdens and continue to work closely with the exceptional leadership team to create further shareholder value."

ENDS

Enquiries:

Ramsdens Holdings PLC                                               Tel: +44 (0) 1642 579957

Peter Kenyon, CEO

Martin Clyburn, CFO

Liberum Capital Limited (Nominated Adviser)       Tel: +44 (0) 20 3100 2000

Richard Lindley

Will King

Hudson Sandler (Financial PR)                                   Tel: +44 (0) 20 7796 4133

Alex Brennan

Lucy Wollam-Coles

Emily Brooker

About Ramsdens

Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. 

Ramsdens does not offer unsecured high-cost short term credit.

Headquartered in Middlesbrough, the Group operates from 168 stores within the UK (including one franchised store) and has a growing online presence.

Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.

www.ramsdensplc.com

www.ramsdensforcash.co.uk

www.ramsdensjewellery.co.uk

www.ramsdenscurrency.co.uk