Costain Group PLC Directorate Change
12 März 2024 - 8:01AM
RNS Regulatory News
RNS Number : 4182G
Costain Group PLC
12 March 2024
Costain Group
PLC
12 March
2024
Costain Announces Bishoy Azmy To Step
Down From Board
Costain Group PLC ("Costain", or the "Company")
announces Mr Bishoy Azmy is to step down from the
Board of Costain with effect from 31 March 2024. Mr
Azmy is the designated Board
representative of ASGC, a Dubai-based construction conglomerate and
15% shareholder in the Company, and was appointed to the Board as a
non-independent non-executive Director in June 2020.
Bishoy Azmy
said: "Costain has today announced yet another
strong operational and cash performance demonstrating the
successful delivery of its strategy and the exciting prospects for
the business. I am also delighted that the Board has been
significantly strengthened and refreshed with a change in Chair and
the recent appointment of two non-executive Directors with
excellent, directly relevant experience. I have already seen
first-hand the benefits this brings to the Company. It is therefore
a natural time for me to step down from the Board to focus on my
other global interests. As a shareholder, we remain committed to
the future of Costain."
Kate Rock,
Chair, Costain said: "Bishoy
remains a strong advocate and supporter of Costain as we continue
to grow the business and add value for our shareholders. We are
very grateful to him for his considerable contribution to the Board
during the past four years. I fully understand and appreciate that,
as he sees Costain well set for future growth, he now wishes to
step down from the Board to commit to his other significant global
activities. I am also delighted with the recent appointments of
Steve Mogford and Amanda Fisher as independent non-executive
Directors who have brought their considerable experience to the
Costain Board."
The relationship agreement between ASGC and the
Company, which was put in place at the time of the equity raise in
May 2020, is unaffected by Mr Azmy stepping down from the Costain
Board.
Enquiries:
Investors and
analysts
|
paul.sharma@costain.com
|
Paul Sharma, Costain
|
+44 (0) 7867 501188
|
Financial
media - Headland
|
costain@headlandconsultancy.com
|
Andy Rivett-Carnac
|
+44 (0) 7968 997 365
|
Charlie Twigg
|
+44 (0) 7946 494
568
|
Notes to
editors
Costain helps to improve people's lives by
creating connected, sustainable infrastructure that enables people
and the planet to thrive. We shape, create and deliver pioneering
solutions that transform the performance of the infrastructure
ecosystem across the UK's transport, energy, water, and defence
markets.
We are organised around our customers
anticipating and solving their challenges and helping to improve
performance. By bringing together our unique mix of construction,
consulting and digital experts we engineer and deliver sustainable,
efficient and practical solutions.
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END
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