Chair succession

Molten Ventures plc
("Molten", the "Group" or the "Company")

Chair succession

Molten Ventures plc (LSE: GROW, Euronext Dublin: GRW) is pleased to announce the appointment of Laurence Hollingworth as a non-executive director of the Company and Chair of the Board of Directors, effective 2 January 2024. Laurence will also Chair the Nomination Committee and become a member of the Remuneration Committee. Grahame Cook will resume his role as Senior Independent Director and Chair of the Audit, Risk and Valuations Committee following an orderly handover.

Laurence brings extensive experience in the capital markets and a strong understanding of the investment environment following a 37-year career with Cazenove and latterly JP Morgan. He has held several senior leadership roles during his career including Head of UK Investment Banking, Head of EMEA Industry Coverage and finally as Vice Chairman for Equity Capital Markets EMEA. He is currently chair of Clarkson plc, the world’s largest shipbroker, and a non-executive director of Atom Bank plc, an online retail challenger bank.

Grahame Cook, Interim Chair of Molten Ventures, commented:

“The Board is delighted to welcome Laurence to Molten. Assisted by an external recruitment firm, the Nomination Committee has conducted a robust and extensive process to identify a candidate of Laurence’s calibre and experience to serve as a permanent successor to Karen Slatford. We look forward to him assuming responsibilities in January following a thorough induction to the business.”

Martin Davis, CEO of Molten Ventures, commented:

“The Executive team are looking forward to working with Laurence and benefitting from the insight and guidance his experience brings to our board room. Thanks must also go to Grahame Cook, who has diligently led the Board alongside his other responsibilities following Karen Slatford’s retirement.”

Commenting on his appointment, Laurence Hollingworth said:

“I’m pleased to be joining a unique, listed VC and contributing to its growth ambitions, leveraging my capital markets, investment banking and leadership experience. I look forward to working with the Board to help the Company continue its long-term track record of successful investments for the benefit of all our shareholders.”

The Directors have determined that upon appointment, Laurence will be deemed independent. Save as disclosed above, there are no further details to be disclosed pursuant to Listing Rule 9.6.13.

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About Molten Ventures

Molten Ventures is a leading venture capital firm in Europe, developing and investing in disruptive, high growth technology companies. We inject visionary companies with energy to help them transform and grow. This energy comes in many forms - capital, of course, but also knowledge, experience, and relationships. We believe it is our role to support the entrepreneurs who will invent the future, and that future is being built, today, in Europe.

As at 30 September 2023, Molten Ventures had a diverse portfolio with shareholdings in 74 companies, 17 of which represent our core portfolio holdings and account for 62% of the Gross Portfolio Value. Our core companies include Thought Machine, Coachhub, Form3, Aiven, Ledger and Aircall. We invest across four sectors: Enterprise Technology, Hardware and Deeptech, Consumer Technology, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies operating in new markets, with aspirations for global expansion, strong IP, powerful technology, and strong management teams to deliver success. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.

Molten Ventures provides a unique opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since our IPO in June 2016, we have deployed over £1bn capital into fast growing tech companies and have realised over £520m to 30 September 2023.

For more information, go to https://www.moltenventures.com/