20 June 2024

FRANCHISE BRANDS PLC

("Franchise Brands", the "Group" or the "Company")

Board and management changes

Franchise Brands plc (AIM: FRAN), an international multi-brand franchise business, announces that Mark Fryer, who joined the Group on 2 August 2023, is stepping down from his role as Chief Financial Officer and as a director of the Company with immediate effect. The Company's search for a permanent Chief Financial Officer will commence shortly and the Company will update the market in due course.

Andrew Mallows has been appointed as a Director of the Company and as Interim Chief Financial Officer with immediate effect. Andrew originally joined Franchise Brands in 2016 as Finance Director, and since 2017, has been the Group's Commercial Director over which time he has made a significant contribution to the development of the business. He served as Interim Chief Financial Officer of the Group between 26 July 2022 and 2 August 2023. Andrew was Finance Director of Domino's Pizza UK & IRL plc from 2001 to 2004 before being appointed as its Business Development Director.

The Company is pleased to announce that Mark Boxall has been appointed as Chief Operating Officer, a newly created position on the Group's Management Board. Mark was Chief Operating Officer at D4t4 Solutions plc (now Celebrus Technologies plc), a software and data platform provider, between 2015 and 2022, with responsibility for business operations in the UK and internationally. Mark has proven experience in operations, strategy implementation, acquisition integration, business development, financial planning and analysis, systems, business process engineering and programme management across a wide range of sectors. Prior to joining D4t4 Solutions plc, he held a senior sales role at EMC Computer Systems Ltd and was Managing Director of a corporate finance boutique. Between 2003 and 2010, he was Chief Operating Officer of Chapter 26 Ltd, a specialist solution provider that he co-founded and sold to D4t4 Solutions plc.  Mark will join the Group's Management Board but is not being appointed as a Director of the Company.

Stephen Hemsley, Executive Chairman, commented:

"These changes have been made to both strengthen the leadership of our finance team and provide more focus on the integration of the recently acquired businesses. This will help ensure we meet the operational gearing targets set out in our strategic plan and deliver our results in a timely manner.

"Andrew Mallows has been a key part of the Franchise Brands team for a number of years, making a significant contribution to driving the commercial and strategic focus of the Group. His extensive knowledge of the business and strong relationships with the team will be invaluable as we strengthen the finance team.

"I am very pleased to welcome Mark Boxall to the Group. The key strategic priority for the Group over the next three years is to continue integrating the businesses we have acquired, which will allow us to repay the acquisition debt as quickly as possible. Mark has substantial operational and commercial experience and will assist with all aspects of integration, collaborating closely with the Group's CEOs and Management Board team". 

The following information is disclosed in respect of Andrew Mallows pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Andrew John Mallows is aged 54 and is currently a director of the following companies and, save as set out below, has not held any other directorships or partnerships during the past five years:

Azura Business Solutions Limited

Azura Design Studio Limited

Azura Group Ltd

Barking Mad Limited

ChipsAway International Ltd

DentsAway Limited

Edwin Investments Limited

Environmental Biotech Limited

FB Holdings Limited

Filta Group Holdings Limited

Filta Refrigeration Limited

FiltaFry Limited

Franchise Brands plc (30 September 2022 to 2 August 2023, reappointed 19 June 2024)

Grease Management Limited

Hydraulic Authority I Limited (21 April 2023 to 27 September 2023, reappointed 19 June 2024)

Hydraulic Authority II Limited (21 April 2023 to 27 September 2023, reappointed 19 June 2024)

Hydraulic Authority III Limited (21 April 2023 to 27 September 2023, reappointed 19 June 2024)

Kemac Services Limited

M & M Asset Maintenance Limited

Metro Plumb Limited

Metro Rod Limited

MRB Drainage Limited

MRE Drainage Limited

Oven Clean (Ontario) Limited

Oven Clean Domestic Limited

Pirtek Europe Limited

The Filta Group Limited

The Handyman Van Limited

Watbio Holdings Limited

Watbio Limited

Watling Hope (Installations) Limited

Willow Drainage Limited

Willow Pumps Limited

WPL Group Holdings Limited

Andrew Mallows owns 124,290 ordinary shares in the Company (representing 0.06% of the Company's issued ordinary shares) and holds options over 550,682 ordinary shares of Franchise Brands.

There is no other information that is required to be disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Enquiries:

About Franchise Brands plc

Franchise Brands is an international, multi-brand franchisor focused on B2B van-based service with 7 franchise brands and a presence in 10 countries across the UK, North America and Europe. The Group is focused on building market-leading businesses primarily via a franchise model and has a combined network of over 625 franchisees.

The Company owns several market-leading brands with long trading histories, including Pirtek in Europe, Filta, Metro Rod and Metro Plumb, all of which benefit from the Group's central support services, particularly technology, marketing, and finance. At the heart of Franchise Brands' business-building strategy is helping its franchisees grow their businesses: "if they grow, we grow".

Franchise Brands employs c700 people across the Group.

For further information, visit www.franchisebrands.co.uk