REG - Chill Brands Group - Result of GM and Board Changes

Chill BrandsAnnouncement

04/06/2024 13:15

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RNS Number : 0831R  Chill Brands Group PLC  04 June 2024

4 June 2024

 

Chill Brands Group plc

("Chill Brands" or the "Company")

 

Result of general meeting

Board changes

 

Result of general meeting

 

At the general meeting of the Company held at 10.00am today (the "GM"), all
resolutions proposed at the general meeting were passed. Details of the
voting on each resolution is set out in the table below.

 

 Resolution                                                               For          % For   Against     % Against  Withheld*
 1.    That Graham Duncan be appointed as a director.                     235,688,150  79.89%  59,313,093  20.11%     692,056
 2.    That Aditya Chathli be appointed a director.                       235,859,697  79.88%  59,422,834  20.12%     410,768

 3.    That Antonio Russo be removed as a director.                       235,467,526  79.98%  58,955,975  20.02%     113,049
 4.    That Trevor Taylor be removed as a director.                       235,467,526  79.98%  58,955,975  20.02%     113,049
 5.    That any director appointed subsequent to 15 April be removed.     235,054,817  79.94%  59,000,832  20.06%     480,901

 

*A vote "withheld" is not a vote in law and is not counted towards the votes
cast "for" or "against" a resolution.

 

The Company will provide a trading update for the 12 month period ended 31
March 2024 and current trading shortly.

 

Board changes

 

Following the general meeting, the board of directors of the Company (the
"Board") now comprises:

 

·      Aditya Chathli (Non-Executive Chairman)

·      Graham Duncan (Finance Director)

·      Eric Schrader (Non-Executive Director)

·      Callum Sommerton (Chief Executive)

·      Scott Thompson (Non-Executive Director)

 

At a Board meeting held earlier today, Aditya Chathli was appointed as
Non-Executive Chairman of the Company and the Audit Committee will now
comprise of Aditya Chathli and Scott Thompson.

 

Antonio Russo and Trevor Taylor have ceased to be directors of the Company
with immediate effect, who have also been removed as subsidiary directors,
also with immediate effect. Both Antonio Russo and Trevor Taylor remain as
employees of the Company.

 

Callum Sommerton

 

Following the announcement made by the Company on 22 April 2024, the Board
have received the preliminary view from Fieldfisher LLP that the allegations
of the use of inside information will not be evidenced to a sufficient degree.
Consequently, the Board have unanimously agreed to discontinue this
investigation and reinstate Callum Sommerton as Chief Executive Officer, with
full responsibilities for running the day to day operations, with immediate
effect.

 

Details of the new directors are as follows:

 

Graham Duncan

 

Graham is a UK-based chartered accountant with more than 25 years' of capital
markets experience. He also holds a Corporate Finance Diploma issued by the
Institute of Chartered Accountants in England and Wales.

 

Since 2013, Graham has operated a consultancy business providing transactional
support and financial reporting advice to growing private and public companies
in the UK and internationally, including advising on new admissions to the
Official List of the London Stock Exchange.

 

He is Chairman of RentGuarantor Holdings Plc, a company listed on the Apex
segment of the Aquis Stock Exchange. Prior to this, Graham was a capital
markets director with a major firm of Chartered Accountants in London. Graham
has considerable international experience, including four years in Hong Kong
where he advised on corporate transactions in the Asia Pacific region.

 

Aditya ("Harry") Chathli

Aditya is a capital markets and media strategist who has developed and
designed successful communication campaigns to raise the profile of
organisations, companies and government policies over the past 25 years.

 

Aditya has been the key PR adviser to clients ranging from FTSE 100 to
AIM-listed businesses. He has a demonstrable track record of success in
technology-led businesses (TMT, Cleantech, Med-tech, Biotech), FMCG,
Healthcare, Industrial & Support Services and Property sectors across UK,
Europe, Middle East, Asia, US and Africa.

 

He is also an entrepreneur with a track record of growing successful
businesses, mentoring start-up management teams and identifying sources of
growth capital for businesses. He founded his first PR agency, Corfin Public
Relations, which was acquired by Luther Pendragon in October 2011. After eight
years at Luther, in 2019 he conducted a management buy out to set up the
company now trading as Gracechurch Group. Prior to establishing Corfin, Harry
was an Associate Partner at Brunswick, which he joined in August 1998 from the
International Division of the Adam Smith Institute where he had been an
international policy advisor for four years. Harry is on the Board of several
private companies and is also Non-executive Chairman at a Standard-listed
company on the Main Market of the London Stock Exchange.

 

-ENDS-

About Chill Brands Group

 

Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international consumer
packaged goods company focused on the development, marketing and distribution
of wellness and recreational products. The Company's proprietary nicotine-free
vapour products cater to the rapidly growing market for tobacco alternatives
and are distributed by some of leading retail stores in the US and UK. Chill
Brands also operates the chill.com e-commerce website, on which it is building
a marketplace of products from third-party brands.

 

Publication on website

 

A copy of this announcement is also available on the Group's website at
(http://www.chillbrandsgroup.com/) http://www.chillbrandsgroup.com
(http://www.chillbrandsgroup.com/)

 

Media enquiries:

 Chill Brands Group plc                                      +44 (0)20 4582 3500

 Harry Chathli, Director
 Allenby Capital Limited (Financial Adviser and Broker)      +44 (0) 20 3328 5656
 Nick Harriss/Nick Naylor/Lauren Wright (Corporate Finance)

Kelly Gardiner (Equity Sales)

 

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