VIL
10/06/2015 13:11
DIRECTOR
NOT PRICE SENSITIVE
REL: 1311 HRS Veritas Investments Limited
DIRECTOR: VIL: Veritas Chairman to step down at year-end
NZX Release
10th June 2015
Veritas Chairman to step down at year-end.
Veritas Chairman Mark Darrow has notified Veritas Investments Limited
(NZX:VIL) that he will step down from the Board at the end of the financial
year.
Mark Darrow commented, "Several private business projects that need my time
and attention mean I will not be in a position medium term to Chair the Board
of NZX Main Board-listed Veritas. This has been a demanding but rewarding
role as the Group successfully completed four acquisition projects from a
standing start and in a relatively short period of time."
His involvement with Veritas stems back four years, as he was part of the
negotiations to take over the original NZX-listed shell company and was one
of the founding Directors when Veritas was then formed as an investment
company in late 2012 targeting the Food, Beverage and Hospitality sectors.
"After a busy four years, this is an opportune time to stand aside. By the
end of June 2015 the FY16 business planning and strategy work will have been
completed, including a full market update for the year ahead,"
"I remain an enthusiastic, supportive and acquiring shareholder and see FY16
as the year the Veritas Group shows the potential it has through the
performance of the four business units, after the recent settling in period",
said Mark.
Veritas Directors have appointed Tim Cook as acting Chair while a review of
the Board make-up is considered. Tim will work closely with Mark during the
month to ensure a smooth transition occurs.
-ends-
For further information, contact:
Mark Darrow
021 88 88 58
[email protected]
or
Tim Cook
021 764 401
[email protected]
About Veritas Investments Limited
Veritas Investments is an NZX Main Board-listed investment company focusing
in the Food and Beverage, Franchise and Hospitality sectors. The shell
company was formed in December 2011 and made its first acquisition of the Mad
Butcher franchisor business in May 2013 through a reverse acquisition
transaction. A further investment was made in December 2013 for 50% of Kiwi
Pacific Foods Limited. In September 2014 Veritas acquired the Nosh Food
Market business. In November 2014 Veritas acquired The Better Bar Company
group business.
www.veritasinvestments.co.nz
End CA:00265490 For:VIL Type:DIRECTOR Time:2015-06-10 13:11:18
