Coats Group plc announces that it has received notice from Anne Fahy, Non-Executive Director ("NED") of the Company, of her intention not to stand for re-election at forthcoming Annual General Meeting (the "AGM"). Anne will attend the Board and Committee meetings to be held on 17th and 18th May 2022 in her capacity as NED and Chair of the Audit and Risk Committee. As the Company's Notice of AGM has already been issued, the Company confirms that the resolution to re-elect Anne Fahy as a NED of the Company (Resolution 6) is now withdrawn. The withdrawal of Resolution 6 does not otherwise affect the validity of the Notice of AGM, or any proxy votes already submitted on other proposed resolutions. The numbering of all other proposed resolutions at the AGM will remain unchanged.
As a result of Anne's decision, Nicholas Bull, FCA, will be appointed as Chair of the Audit and Risk Committee with effect from 19th May 2022. Nicholas was appointed as a NED and Senior Independent Director of Coats in April 2015, and has been a member of the Audit and Risk Committee since then. Nicholas brings extensive financial experience through both his current appointment as Chair of Fidelity China Special Situations PLC, as well as from his previous roles with de Vere Group Limited, Société Générale, Morgan Grenfell and ABN Amro.