Esperite NV announces a major change in its management and appoints its new CEO, Mr. Hugo Brugière.

August 5, 2020 Group News

5 August 2020

The Netherlands, August 5 2020 – The Board of Directors of Esperite N.V. (Euronext: ESP), at its meeting of 30 July, 2020, noted the departure of Frédéric Amar from his position as Chief Executive Officer for health reasons. Frédéric Amar maintains his mandate as Director and, as such, will continue to provide Esperite with the benefit of his expertise.

The Board, by unanimous vote of its members, decided to appoint Hugo Brugière as a director and to appoint him as Chief Executive Officer of Esperite. Hugo Brugière is notably Chairman of HBR Investment Group, a company specialising in the acquisition of stakes in distressed companies in need of managerial support in addition to a capital contribution. His most recent investment is Neovacs, a French biotechnology company listed on Euronext Growth in Paris.

Hugo Brugière is one of the investors in the European Small Caps Opportunities Fund, based in Australia (the “Fund”), from which Esperite secured a €35 million financing line on July 28, 2020. It is specified that (i) as a limited partner, Hugo Brugière has no decision-making power within the Fund and (ii) no privileged information that Hugo Brugière may hold in his capacity as Chief Executive Officer and director of Esperite may be transmitted to the Fund, in accordance with the terms of the contract concluded between Esperite and the Fund.

 

Frédéric Amar: “Esperite was a major project for me. I am pleased to hand over the management of the group to Hugo Brugière, whose energy and foresight make him the manager that Esperite needs for its development. The recent investment agreement that we signed should enable Esperite, under Hugo Brugière’s leadership, to envisage an ambitious development plan.

Hugo Brugière said: “After learning of the Fund’s investment in Esperite, I was seduced by the potential offered by this company. It was therefore natural for me to accept the directors’ offer to join the Board and become Chief Executive Officer. I will take the time to analyse the situation from the inside and then present my action plan. »

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