Board Changes & Change of Auditor
18 August 2022
Sosandar PLC (AIM: SOS), one of the fastest growing fashion brands in the UK creating quality, trend-led products for women of all ages, is delighted to announce the appointment of Lesley Watt to the Company's Board as a Non-Executive Director effective from 1 September 2022.
Lesley is as an experienced commercial CFO and Finance Director with over 25 years in Board and senior finance positions across private, public and third sectors, including Scottish and Newcastle plc and latterly as CFO of Miller Developments. She is currently a member of the Tatton Asset Management plc Board and has significant experience with high growth strategic start-ups and blue chip companies. Lesley is a Chartered Accountant having qualified with PWC.
In addition, Non-Executive Director, Mark Collingbourne, will step down from the Board on 1st September 2022 having supported the Company as Group Finance Director and subsequently as a Non-Executive Director.
Change of Auditor
Sosandar, is also pleased to announce the appointment of Saffery Champness LLP as the Company's new auditor following a formal tender process. Saffery Champness LLP has been appointed with immediate effect
This appointment will be recommended for approval by shareholders at the 2022 Annual General Meeting.
Jeffreys Henry, the Company's outgoing auditor has confirmed to the Company, that in accordance with section 519 of the Companies Act 2006, there are no matters to be brought to the attention of the members or creditors of the Group.
Bill Murray, Non-Executive Chairman, commented:
"Firstly, I would like to thank Mark for his valued contributions to the Company over the past five years, both in his former position as Group Finance Director and more recently as a Non-Executive Director. The Company has benefited greatly from his counsel, and we wish him well for the future. I would also like to offer my thanks to Jeffreys Henry for the support they have provided during their time as the Company's auditor.
"On behalf of the Board and wider Sosandar team, I am very pleased to welcome Lesley to the Board. She brings a wealth of knowledge and experience with her which will help facilitate the future progress of the business. The Board looks forward to working with Lesley as the Group continues to execute on its growth strategy."
Julie Lavington / Ali Hall, Joint CEOs
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Steve Dilks, CFO
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Susie Hudson / Sam Modlin / Lily Soares Smith / Matthew Young
Appendix: disclosures required pursuant to Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies
Lesley Fiona Watt (aged 57) is currently, or has during the past five years been, a director of the following companies:
Current directorships or partnerships
Previous directorships or partnerships
Scottish Baroque Ensemble Limited
Glenerne Management Services Limited
Tatton Asset Management PLC
Barony Housing Association
Lesley was a director of Globalfarmers.com Limited from April 2000 until it went into voluntary receivership in July 2001.
As of the date of this announcement, Lesley Watt holds no ordinary shares in the capital of the Company.
Save as set out in this announcement, there are no further details to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
About Sosandar plc
Sosandar is one of the fastest growing women's fashion brands in the UK targeting style conscious women who have graduated from price-led alternatives. The Company offers this underserved audience fashion-forward, affordable, quality clothing to make them feel sexy, feminine and chic. The business sells predominantly own-label exclusive product designed in-house.
Sosandar's product range is diverse, providing its customers with an array of choice for all occasions across all women's fashion categories. The company sells through Sosandar.com and has brand partnerships in place with Next, John Lewis, Marks & Spencer and The Very Group.
Sosandar's strategy is to continue growing brand awareness and expand its customer database whilst also further driving its high levels of customer retention. This is achieved through its exceptional products, seamless customer experience and impactful, lifestyle marketing activities all of which is underpinned by combining innovation with data analysis.
Sosandar was founded in 2016 and listed on AIM in 2017. More information is available at www.sosandar-ir.com.