C&C Group PLC has announced that it has reached a Cooperation Agreement with Engine Capital LP and other shareholders. The Agreement will see the Company appoint a new non-executive Director with capital markets expertise to the Board from a short-list of nominees agreed with Engine. As part of the Agreement, Engine will withdraw its two proposed nominees for election at the upcoming Annual General Meeting (AGM) on 15 August 2024. The Agreement also includes customary governance, standstill, and voting provisions. Engine has confirmed it will support all resolutions proposed at the AGM in line with the Board's recommendations.

C&C Group PLC is a leading, vertically integrated premium drinks company that manufactures, markets, and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland. The company's portfolio includes owned/exclusive brands such as Bulmers, the leading Irish cider brand, and Tennent's, the leading Scottish beer brand, as well as a range of fast-growing, premium, and craft ciders and beers. C&C Group exports its Magners and Tennent's brands to over 40 countries worldwide and has owned brand and contract manufacturing/packing operations in Co. Tipperary, Ireland, and Glasgow, Scotland. Additionally, C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors, providing a key route-to-market for major international beverage companies.

The Company's engagement with Engine Capital LP and the subsequent Cooperation Agreement demonstrates its commitment to working constructively in the best interests of the Company, its shareholders, and wider stakeholders. This development reflects a strategic approach to governance and collaboration, which is expected to contribute positively to the Company's future operations and growth.