The security printing group announced Loosemore’s departure today (14 April), ten minutes before the end of trading on the London Stock Exchange. 

His position had appeared increasingly untenable after the PLC issued yet another profit warning earlier this week, causing its share price to sink to a record low. 

In the summer of 2020 De La Rue completed a £100m equity raise. Its market capitalisation today was just under £78.2m.

In its announcement, De La Rue said that Loosemore “has resigned as a director of the company to draw a line under recent speculation surrounding the leadership of the company".  

Loosemore will leave office effective 1 May.

The group's board has launched an accelerated recruitment process using an external search company, “with the aim of appointing a new non-executive chairman on 2 May 2023, or as soon as practicable thereafter”.

De La Rue said that Pepyn Dinandt, who has already been put forward for the role by Crystal Amber Fund, “will be a candidate in this process”.

Loosemore took up the chairman role in September 2019, ironically after his predecessor also departed after coming under pressure from Crystal Amber after the embattled group lost the massive contract to produce UK passports.

Shareholders will be able to vote on the re-election of the De La Rue board at its AGM in July.