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Board Update
10 June 2019
LEI No. 213800QIPVTK5ES5UU36
Scapa Group Ltd (“the Company”)
Board update and additional information on
potential financial implications of contract termination
Scapa Group Ltd (AIM: SCPA) announces that further to the announcement on 21 May 2019, Heejae Chae has agreed to retract his intention to step down and will remain as Group Chief Executive of the Company to execute against the current strategy.
Further to the announcement on 3 June 2019, Scapa continues to prepare its response and pursue all appropriate rights and remedies against ConvaTec Inc.
(ConvaTec).
Heejae chae biography of nancy
The Company has taken steps to reduce the estimated impact on revenues and trading profit in FY20. Following a reduction in direct labour, but assuming no further mitigating actions at this stage, the estimated exposure to revenue and trading profit in FY20 could be c£28.0m and c.£13.0m, respectively.
The figure includes the impact on other facilities which supply materia