Business
Board and Name Changes, Admission of New Shares
Board and Name Changes, Admission of New Shares.
About this update from Cavendish Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE\n1 September 2023\nfinnCap Group plc (\"finnCap\" or the \"Company\")\n \nBOARD CHANGES TO TAKE PLACE FOLLOWING SCHEME BECOMING EFFECTIVE AND COMPANY NAME CHANGE\nADMISSION OF NEW ORDINARY SHARES\nOn 23 March 2023, the board of finnCap Group plc (\"finnCap\" or the \"Company\") and the board of Cenkos Securities plc (\"Cenkos\") announced that they had reached agreement on the terms and conditions of a recommended all-share merger between Cenkos and finnCap (the \"Merger\"), to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\").\nFurther to the scheme document published by Cenkos (the \"Scheme Document\") and the circular published by the Company (the \"finnCap Circular\"), which were both published on 20 April 2023 in connection with the Scheme, the Company Board are pleased to confirm, subject in each case to the Effective Date occurring, the membership of the Combined Group Board and announce a proposed company name change.\nUnless otherwise defined, all capitalised terms in this announcement shall have the meanings given to them in the Scheme Document.\nBoard Changes\nAs previously announced in the Scheme Document and finnCap Circular, the Combined Group will be led by the existing CEOs of Cenkos and finnCap, John Farrugia and Julian Morse as co-CEOs, with Lisa Gordon becoming Chair of the Combined Group Board and Robert Lister becoming Senior Independent Non-executive Director. The remainder of the Combined Group Board will comprise Ben Procter (CFO), Richard Snow (COO), Annette Andrews and Jeremy Miller. \nConsequently, the finnCap Board has resolved to appoint, with effect from and conditional upon the Effective Date occurring, Lisa Gordon, Julian Morse, Ben Procter and Jeremy Miller as directors of the Company. Further information on the new directors can be found below.\nFurther, with effect from and conditional upon the Effective Date occurring, Andy Hogarth, Geoff Nash and Barbara Anne Firth will resign from the finnCap Board.\nThe finnCap Board would like to thank Barbara, Andy and Geoff for the significant contribution that they have each made during their time on the Board.\nName Change\nFollowing the Effective Date finnCap intends to apply to Companies House to change the Company's name to Cavendish Financial...