TIDMART
RNS Number : 6459Z
Artisanal Spirits Company PLC (The)
17 May 2023
17 May 2023
The information contained within this announcement is deemed to
constitute inside information for the purposes of the UK Market
Abuse Regulation.
The Artisanal Spirits Company plc
("The Artisanal Spirits Company", "ASC" or the "Group")
Appointment of Chief Financial Officer
The Board of T he Artisanal Spirits Company (AIM: ART) ,
curators of the world's favourite, single-cask and limited-edition
whisky, and owner of The Scotch Malt Whisky Society ("SMWS") , is
pleased to announce that Billy McCarter, formerly Interim Finance
Director, has been appointed as Chief Financial Officer ("CFO") and
to the Board of the Group, with immediate effect.
In January 2023, following the appointment of Andrew Dane as
Chief Executive Officer, the Board initiated a thorough and
independent search process for a long-term CFO, which comprised
both internal and external candidates. Following the completion of
that process, the Board is pleased to offer the position to Billy
McCarter which he has duly accepted.
Billy is an ACCA qualified accountant, with strong career
financial experience in the Whisky and Spirits industries including
around 8 years with Diageo plc and has had a very strong positive
impact on ASC since joining the Group 15 months ago.
In addition to the above appointment, the Group is also pleased
to announce that it will also be welcoming a new Business
Development Director, Chris Leggat, to the Executive team. Chris
joins from Douglas Laing & Co, the independent Scotch whisky
blending and bottling specialist, where he was Chief Executive
(2018-2023), having joined that business as Commercial Director in
2014. Chris brings with him 20 years' experience of the global
spirits industry, and Scotch Whisky in particular, and is an
excellent addition to the team. He joins ASC in June 2023.
ASC will announce an AGM trading update for the four months to
30 April 2023 on 24 May 2023.
Mark Hunter, Chairman, commented:
"ASC is delighted to have been able to promote Billy McCarter to
the role of CFO and to the Board from our existing, strong pool of
internal talent. Following the promotion of Andrew Dane to the
position of CEO earlier in 2023 the internal appointment of Billy
demonstrates the strength in depth of the talent within ASC.
"Since joining the Group in February 2022, Billy has
demonstrated his value to the organisation and has driven forward
leadership of the Finance function, whilst demonstrating very
strong analytical and leadership skills. He is an excellent
addition to the Board. We also look forward to welcoming Chris
Leggat to the Executive team who has highly relevant experience in
the spirits industry, and whisky segment in particular. I, together
with the other Directors, very much look forward to working closely
with both Billy and Chris as ASC progresses its stated strategy to
unlock its significant future growth opportunity."
In accordance with Schedule 2(g) of the AIM Rules for Companies,
the names of all companies and partnerships of which William
(Billy) McCarter, aged 39, is or has been a director or partner at
any time in the previous five years are set out below:
Current directorships Previous directorships and/or
and/or partnerships partnerships (in the last five
years)
JG Thomson & Co Ltd First Step Community Project
ASC Scotland Limited
Billy holds no ordinary shares in the Company and currently
holds 51,400 share options under the Company's Long Term Incentive
Plan. It is expected that a commensurate further award of options
will be made to Billy later this year following his promotion to
CFO.
Save as set out in this announcement, there are no further
details to be disclosed under Rule 17 or Schedule 2(g) of the AIM
Rules for Companies in respect of Billy.
For further enquiries:
The Artisanal Spirits Company plc via Instinctif PR
Andrew Dane, Chief Executive Officer
Billy McCarter, Chief Financial Officer
Liberum Capital Limited - Nominated
Advisor and Broker
Clayton Bush
Edward Thomas
Miquela Bezuidenhoudt 020 3100 2222
Instinctif Partners (Financial PR)
Justine Warren
Matthew Smallwood
Joe Quinlan 020 7457 2020
About The Artisanal Spirits Company
The Artisanal Spirits Company (ASC) are curators of the world's
favourite, single-cask and limited-edition whisky.
Based in Edinburgh, ASC owns The Scotch Malt Whisky Society
(SMWS) which was established in 1983 and currently has a growing
worldwide membership of just over 37,400 paying members.
SMWS provides members with inspiring experiences, content and
exclusive access to a vast and unique range of outstanding single
cask Scotch malt whiskies and other craft spirits, with current
stocks sourced from over 100 distilleries in 20 countries and
expertly curated with diligence and care.
Since producing the Society's very first cask, we have created
around 10,000 different whisky releases, producing a constant flow
of unique and exciting one-of-a-kind whiskies.
With proven e-commerce reach and new brands like J.G. Thomson,
ASC is building a portfolio of limited-edition and small-batch
spirits brands for a global movement of discerning consumers -
delivering c.GBP20 million in annual revenues with over 80% of
revenue generated online and over 65% from outside the UK, with a
growing presence in the key global whisky markets including UK,
China, USA and Europe.
ASC has a pioneering business model, a substantial and growing
addressable market presenting a long-term global growth opportunity
and a strong and resilient business primed to deliver growth.
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