INCHCAPE PLC
Directorate Change
Further to the announcement today regarding publication of the circular relating to the proposed acquisition of Derco (the "Transaction"), Inchcape plc is pleased to announce the conditional appointment of Juan Pablo Del Río as a Non-Executive Director with effect from the Admission of the Consideration Shares to be issued by Inchcape plc on completion of the Transaction. As separately announced, completion of the Transaction (and consequential Admission of the Consideration Shares) is subject to outstanding conditions including the approval of Inchcape plc's shareholders, and merger control clearance in Peru.
Juan Pablo is an existing director of both Dercorp CL SpA and Dercorp EX SpA and is also on the board of several subsidiaries within the Derco group. In addition, Juan Pablo is currently a member of the board of directors of Cruzados S.A.D.P. (a company with shares listed on the Santiago Stock Exchange) and is chairman of Sodimac S.A, a position he has held since 1986. He was a member of the board of directors of Falabella S.A., a company with shares listed on the Santiago Stock Exchange, between 2015 and 2020 and has held a number of senior leadership roles across a range of companies within the automotive, retail and real estate sectors in Latin America.
There is no additional information required to be disclosed pursuant to Listing Rule 9.6.13 (1) to (6) in respect of this appointment.
Capitalised terms used in this announcement which are not defined shall have the meaning ascribed to them in the circular regarding the Transaction which was published by Inchcape plc today.
About Inchcape
Inchcape is the leading independent multi-brand global automotive distributor, operating in over 40 markets and territories with a portfolio of the world's leading automotive brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange (INCH) since 1958, and is classified within the 'Business Support Services' sector. The Group is headquartered in London and employs around 14,500 people globally. www.inchcape.com.
Enquiries:
| Inchcape plc - Investor Relations | |
| Raghav Gupta-Chaudhary | +44 (0)7933 395 158 |
| Brunswick Group - Media Enquiries | |
| Susan Gilchrist, Kate Holgate | +44 20 7404 5659 |
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