15/12/2008
Changes to the Board of Directors and Directors' Shareholdings
Further to the announcement made at the Annual General Meeting on the 6 June 2008 Dignity confirms certain changes to its board, effective at the end of 2008. After six years as Chairman, Richard Connell will stand down and resign from the Board at that time. Peter Hindley, currently the Chief Executive, will be appointed as non-executive Chairman of the Group. Mike McCollum, currently the Finance Director will become Chief Executive.
Dignity also announces that Steve Whittern, the Financial Controller of Dignity plc, will be appointed as Finance Director. Steve is a qualified Chartered Accountant who has been with the Group for 10 years and was closely involved in the management buyout, the subsequent whole business securitisation and the IPO.
As a consequence of these changes Dignity plc further announces that on 12 December 2008, the spouse of Peter Hindley, the outgoing Chief Executive, sold 500,000 ordinary shares of 9p each at a price of 602 pence per share. Under s822 of the Companies Act 2006 the resultant notifiable shareholding is 220,256 ordinary shares of 9 pence each. The reason for the sale is to diversify Peter and his family's financial investments as he turns 65 years old and ceases to be involved in the business on a full time basis.
As noted in the announcement on 6 June the Group will appoint two further independent non-executive Directors such that there will be an equal number of independent non-executive Directors to executive Directors in addition to the newly appointed non-executive Chairman. The Group expects to be able to announce details of these appointments in the next few weeks.
Enquiries:
Richard Portman
Corporate Services Director
Dignity plc
Tel: 0121-321-5602