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    MCO   GB00BH0WFH67

THE PROPERTY FRANCHISE GROUP PLC

(MCO)
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Property Franchise : Appointment of CEO Designate

02/13/2020 | 02:07am EST
Regulatory Story
Go to market news section
Appointment of CEO Designate
Released 07:00 13-Feb-2020



RNS Number : 8379C
Property Franchise Group PLC (The)
13 February 2020

13 February 2020

THE PROPERTY FRANCHISE GROUP PLC

('TPFG', the 'Company' or the 'Group')

Appointment of CEO Designate

The Property Franchise Group PLC (AIM:TPFG), one of the UK's largest property franchises,is delighted to announce the appointment of Gareth Samples as Chief Executive Officer Designate, further to the announcement on 31 July 2019 that Ian Wilson intends to retire in 2020. It is proposed that Gareth will join the board of TPFG as Chief Executive Officer in the second half of 2020, enabling an orderly handover period from Ian. Gareth has joined the Group to commence work immediately on key projects alongside the executive management team.

With 30 years' industry experience, Gareth brings a wealth of Estate Agency, Financial Services and digital marketing knowledge to the Group. In his 21 year career at LSL Gareth was appointed Managing Director of the Your Move brand, which was the largest single brand estate agency in the UK at the time. In this role he was responsible for Your Move's franchise operation as well as having overall control of Financial Services and Lettings and the strategy of the brand.

Following his successful career at LSL, Gareth became Managing Director of Briefyourmarket.com where he gained significant digital marketing experience and knowledge and since 2014 he has served as Chairman of Legalforlandlords.

The Company will make a further announcement regarding Gareth's formal appointment in due course.

Richard Martin, Non-Executive Chairman of The Property Franchise Group, commented: 'I'm enormously pleased to announce the appointment of Gareth as CEO Designate. Gareth's excellent credentials in agency are well known and his vision and experience will prove invaluable as the Board endeavour to maximise the many and exciting opportunities that present themselves to our group.'

Ian Wilson, Chief Executive Officer of The Property Franchise Group, commented:'After 16 years with the business, identifying my successor was a significant decision. We have benefitted from a tight and stable board since the IPO in December 2013, with no change in Chairman, CEO or CFO and this board has proven to be an engine for growth. We are delighted that Gareth is joining the team as CEO Designate, as he brings a wealth of industry experience and shares our vision of franchising as a powerful force in our industry. Gareth will be working alongside me and the rest of our team over the coming months in preparation for his formal appointment later this year. Gareth will be introduced to investors at our final results roadshow in April.'

Gareth Samples commented: 'I am thrilled to be joining The Property Franchise Group. The business is at a very exciting stage in its growth strategy with the recent launch of its financial services division alongside a huge opportunity to grow and improve its franchise footprint. I am really looking forward to working with Ian and his team ahead of my formal appointment and I am determined to build further upon the incredible work carried out by Ian and the team.'

The information contained within this announcement (the 'Announcement') is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.



For further information, please contact:

The Property Franchise Group PLC

Ian Wilson, Chief Executive Officer

David Raggett, Chief Financial Officer

01202 292829

Cenkos Securities plc

Max Hartley, Callum Davidson (Nominated Adviser)

Julian Morse (Sales)

0207 397 8900

Alma PR

Susie Hudson

Rebecca Sanders-Hewett

Jessica Joynson

0203 405 0205


About The Property Franchise Group PLC:

The Property Franchise Group PLC (AIM: TPFG) is one of the largest property franchises in the UK. The Company was founded in 1986 and has since grown to a diverse portfolio of six brands operating throughout the UK, comprising longstanding high-street brands and a hybrid, no sale no fee agency.

The Property Franchise Group's brands include:

· Martin & Co: a national lettings focused brand

· EweMove: a national, digitally enabled, hybrid sales and lettings brand

· CJ Hole: a full-service estate agency serving the West Country for 151 years

· Ellis & Co: a full-service estate agency serving London for 168 years

· Parkers: a full-service estate agency serving the M4 corridor for 70 years

· Whitegates: a full-service estate agency serving the Midlands and North of England for 40 years

Headquartered in Bournemouth, UK, the Company was listed on AIM on the London Stock Exchange in 2013. More information is available at www.propertyfranchise.co.uk


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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Appointment of CEO Designate - RNS

Disclaimer

Property Franchise Group plc published this content on 13 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2020 07:05:12 UTC


© Publicnow 2020
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Financials
Sales 2021 23,0 M 30,5 M 30,5 M
Net income 2021 4,42 M 5,87 M 5,87 M
Net Debt 2021 2,95 M 3,92 M 3,92 M
P/E ratio 2021 20,9x
Yield 2021 3,66%
Capitalization 92,9 M 123 M 123 M
EV / Sales 2021 4,18x
EV / Sales 2022 3,53x
Nbr of Employees 51
Free-Float 62,7%
Chart THE PROPERTY FRANCHISE GROUP PLC
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The Property Franchise Group PLC Technical Analysis Chart | MCO | GB00BH0WFH67 | MarketScreener
Technical analysis trends THE PROPERTY FRANCHISE GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 290,00 GBX
Average target price 435,00 GBX
Spread / Average Target 50,0%
EPS Revisions
Managers and Directors
Gareth Meirion Samples Chief Executive Officer
David Arthur Raggett Chief Financial Officer & Executive Director
Richard Wilson Martin Non-Independent Non-Executive Chairman
Paul Martin James Latham Independent Non-Executive Director
Philip James Crooks Independent Non-Executive Director
Sector and Competitors