Young & Co's Brewery Regulatory News (YNGA)

This announcement contains inside information

Young & Co.'s Brewery, P.L.C. ("Young's" or "the Company")

Board changes

Young's today announces the following changes to its Board of directors.

Steve Robinson, currently Head of Finance within Young's, will join the Board and succeed Peter Whitehead as Finance Director on 6 September 2016. Peter will step down from the Board at that date.

Tracy Read, currently the Company's Director of People, will be promoted to the Board also on 6 September 2016.

Steve joined Young's in June 2009 and has been Head of Finance since September 2013. He qualified as a Chartered Accountant with Deloitte and, before joining Young's, held a number of finance roles at The Walt Disney Company.

Tracy joined Young's in January 2015. Before that, during eight years at pub company The Orchid Group, she held a number of roles, most recently Head of People.

Patrick Dardis, Chief Executive, said:

"We are all extremely grateful to Peter. He has been a hugely effective Finance Director for us for almost two decades, a transformational period during which time a great deal has been achieved. 

It is to Peter's great credit that he has built a strong finance function that has produced a natural successor in Steve Robinson. Steve is well qualified to take on the role, with an intimate knowledge of our business and our industry.

Tracy's elevation to our Board recognises the importance we place on having the right people and culture throughout our business, with training and development programmes to ensure we deliver outstanding customer service so our pubs reach their full potential. Our continued success requires this, and Tracy has the talent and experience to deliver it."

Peter Whitehead said:

"It has been an enormously fulfilling 19 years. Young's is a unique company with a great heritage and importantly a very clear view of the future. I will miss it greatly, but it is the right time for me to step down, and I am delighted that Steve will be succeeding me. He has played a central role in our finance function for a number of years and I know that he will be highly successful in his new role." 

Ends

Anthony Schroeder, Company Secretary

Thursday, 11 August 2016 (07:00 BST)

Tel: 020 8875 7000

Enquiries:

Young & Co.'s Brewery, P.L.C. 020 8875 7000

Nicholas Bryan, Chairman / Patrick Dardis, Chief Executive

MHP Communications 020 3128 8100

John Olsen / James White / Gina Bell

J.P. Morgan Cazenove (AIM nominated adviser) 020 7742 4000

James Mitford / Behzad Arbabzadah

Notes:

Steve's full name is Steven Allan Robinson and he is 36 years old.

Steve is the registered holder of 20,620 A shares of 12.5p each in the capital of Young's.

15,152 of these A shares are subject to restrictions which generally prevent him from selling them before the end of a restricted period which ordinarily will end three years after the shares were acquired or, if earlier, the date on which his employment terminates by reason of illness, disability or redundancy. Further, half of them are subject to satisfaction of further conditions relating to the extent to which the group's adjusted earnings per ordinary share in respect of the group's continuing operations for a particular financial performance period exceeds the same measure for an earlier financial performance period. All 15,152 of these A shares are liable to forfeiture in certain circumstances. The detail is as follows:

Steve also holds options over 1,959 A shares which were granted to him under the Company's Savings-Related Share Option Scheme. The option price per share is 840p (for 1,071 of the A shares) and 1,013p (for 888 of the A shares). Ordinarily, these options will not be exercisable until 1 September 2017 (in respect of the option over 1,071 of the A shares) and 1 September 2018 (in respect of the option over 888 of the A shares) and will lapse six months later to the extent not exercised.

Tracy's full name is Tracy Janice Read (née Marshall) and she is 47 years old.

Apart from the above, there are no disclosures required to be made under rule 17 and Schedule Two paragraph (g) of the AIM Rules.