Aviva plc has today announced that the terms of their recommended Offer for the issued and to be issued ordinary share capital of RAC plc has been declared unconditional in all respects.
Aviva plc has today announced that the terms of their recommended Offer for the issued and to be issued ordinary share capital of RAC plc has been declared unconditional in all respects.
Simon Machell has been appointed as Managing Director of RAC plc with immediate effect. Simon is Customer Services Director of Norwich Union Insurance Ltd (Norwich Union is a wholly-owned subsidiary of Aviva plc). He joined Norwich Union 11 years ago and became a director in 1998.
Andrew Harrison has relinquished the role of Chief Executive and remains on the Board of RAC plc for a further six months in an advisory capacity. Otherwise, the current responsibilities of RAC plc's existing directors are unchanged; the Executive Directors will report to Simon Machell.
Patrick Snowball, an Executive Director of Aviva plc and Chief Executive of Norwich Union together with Mark Hodges, Finance Director of Norwich Union are also joining the RAC plc Board with immediate effect as non-independent, non-executive directors.
In accordance with Chapter 16.4 of The Listing Rules, there are no further details required to be disclosed under paragraph 6.F.2(b) to (g).
Contact:
Neil Lovell
Director of Corporate Communications RAC plc
RAC House
Boston Drive
Bourne End
Buckinghamshire SL8 5YS
Tel: 01628 843728
Mob: 07768298636