Both the chairman and the senior independent director of Adnams have said they will leave their roles.

In an announcement ahead of the company’s AGM (scheduled for June 27), chairman Jonathan Adnams and senior independent director Steve Sharp have both given notice of their intention to step down at or before the 2025 AGM, subject to re-election in 2024.

The announcement also confirmed that the company has made “progress in its review of options to fund its future growth plans, with interest secured from multiple parties”.

The timing of Adnams’ and Sharp’s departure will be in part determined by the outcome of the review to raise additional capital, the company said.

In February this year, the company reported “significant inflationary pressure”. A statement at the time said Adnams was exploring ways to reduce bank debt and strengthen the balance sheet. “This could include a fresh injection of capital into the business from another party, or the sale of some of our freehold assets to return capital to the business,” the statement said.