TIDMLPA
RNS Number : 8260M
LPA Group PLC
26 January 2021
LPA GROUP PLC
("LPA", the "Company" or the "Group")
Appointment of Non-Executive Director and Chairman Elect
LPA Group Plc, the high reliability LED lighting, electronic and
electro-mechanical system designer and manufacturer, is pleased to
announce the appointment of Mr. Robert Bodnar-Horvath BSc, FCA as
Non-Executive Director and Chairman elect, who will join the Board
with effect from 1 February 2021.
Robert Bodnar-Horvath holds a BSc in Economics from the
University of Wales. He served Articles with Price Waterhouse and
spent twelve years with the firm including two years in the US. He
is a Fellow of the Institute of Chartered Accountants in England
and Wales, and also a Fellow of Gray's Inn.
He has held a number of senior financial posts with Higgins
Group Plc, A&P Appledore Ship Builders Ltd and Tenfore Holdings
BV.
He was formerly Group Managing Director of Interior Services
Group Plc, a substantial former AIM quoted company.
More recently, he has been Chair of a number of engineering led
companies including Sigmat Group Ltd, a structural steel
business.
Further information about Mr. Bodnar-Horvath pursuant to AIM
Rule 17 and Schedule 2(g) of the AIM Rules for Companies is
included in the appendix on below.
Peter Pollock - Chairman commented:
"I am delighted that Robert Bodnar-Horvath will be joining our
board shortly as NED and Chairman elect.
Robert will succeed me when I retire later this year.
He has had a long and distinguished career in engineering,
infrastructure, and manufacturing. He has also assisted investors
and regulatory authorities in resolving challenging business
circumstances and achieving positive outcomes. More recently he has
focused on positive business opportunities to develop and enhance
value. He has demonstrated deep business acumen, and he brings
valuable experience to our Board. I am sure he will lead LPA to
great success in the future."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The Directors of the
Company take responsibility for this announcement.
Enquires: www.lpa-group.com Tel:
------------------------------------ --------------------- --------------
LPA Group Plc
Peter Pollock Chairman 01799 512844
Paul Curtis CEO 01799 512858
Chris Buckenham CFO 01799 512859
Cairn Financial Advisers (Nominated Adviser) 020 7213 0880
James Caithie / Liam Murray
Ludovico Lazzaretti
finnCap (Broker) 020 7220 0500
Ed Frisby / Tim Harper (Corporate
Finance)
Tim Redfern / Charlotte Sutcliffe
(ECM)
Appendix
Pursuant to AIM Rule 17 and Schedule 2(g) of the AIM Rules for
Companies, the following information is disclosed in respect of
Robert Edmund Paul Bodnar-Horvath (aged 65):
Current appointments Former appointments within the
last 5 years
Bardsley Construction Holdings
Limited* Ashbourne Capital Solutions Limited
-------------------------------------
Bardsley Group Limited* Bardsley Homes Limited*
-------------------------------------
Brand New Co (225) Limited* Beck MBI Limited
-------------------------------------
Pulse Flexible Packaging Limited** Beck MBI 2 Limited
-------------------------------------
Sigmat Group Limited DGC Development Company Limited*
-------------------------------------
The Feldbourne Company Dukinfield GC Management Company
*
-------------------------------------
Fleetness 645 Limited*
-------------------------------------
Fleetness 657 Limited*
-------------------------------------
Greenfield Place Development Co
Limited*
-------------------------------------
Greenfield Place Management Co
Limited
-------------------------------------
KEC 2 Management Company Limited
-------------------------------------
KEC Development Company Limited*
-------------------------------------
Paddle Gate Management Co. 2008
Ltd
-------------------------------------
PPCE Holdings Limited
-------------------------------------
PPCE Shareco Limited
-------------------------------------
Robertson Group (Holdings) Limited
-------------------------------------
Robertson Group Limited
-------------------------------------
Roland Bardsley Developments Limited
-------------------------------------
WM 1234 Limited
-------------------------------------
Worth Abbey Construction Limited
-------------------------------------
*Bardsley Group Limited and Bardsley Homes Limited and their
subsidiaries ("Bardsley")
Bardsley Construction Holdings Limited (a non-trading holding
company), Dunkinfield GC Management Company Limited (a dormant
company), KEC Development Company Limited (a development company)
and Bardsley Construction Limited ("BCL" the only trading entity
within the group structure), were subsidiaries of Bardsley Group
Limited (the group holding company). BCL was incorporated on 13
April 1964 with offices in Manchester and Leeds with activities in
sectors including construction of education, hotels & leisure
facilities, office and retail premises together with all aspects of
residential development. Robert Bodnar-Horvath joined Bardsley at
the request of The Royal Bank of Scotland (a lender to Bardsley
Group Limited and its subsidiaries) in 2012 to chair the business
and to oversee the build out of the residential group - see
Bardsley Homes Limited below. He received shares in BCL as part of
his fee and stepped down to continue as a non-executive director in
2015 when Bardsley Group Limited was successfully refinanced with
Santander.
At the end of 2018, BCL experienced challenging market
conditions including problems with the timely delivery of several
projects, resources issues within the sector, contractual disputes
with private clients, together with new work opportunities being
delayed as a result of the uncertainty within the economic and
political environment.
Bardsley Group Limited and Bardsley Construction Holdings
Limited, both companies of which Robert Bodnar-Horvath is a
director since his appointment on 28 December 2012, appointed
administrators on 19 December 2019. The administrative process
remains ongoing as at the date of this announcement.
Robert Bodnar-Horvath was Corporate Reconstruction Officer of
Bardsley Homes Limited and of the following subsidiaries of
Bardsley Homes Limited to oversee the build-out or liquidation of a
substantial landbank over which The Royal Bank of Scotland held
security. On resignation of the sole director in September 2013,
Robert Bodnar-Horvath became director of the following
subsidiaries: Bardsley Limited, Greenfield Place Development Co
Limited; KEC Development Company Limited; DGC Development Company
Limited; Fleetness 645 Limited (formerly named Thorpe Street
Development Co Limited); Fleetness 657 Limited (formerly named Hall
Moss Farm Development Company Limited) and is a current director of
Brand New Co (225) Limited (formerly named Bardsley Limited). On 26
April 2017 liquidators were appointed by the creditors of the
aforementioned companies. The main creditor of such companies is
the Royal Bank of Scotland which has an outstanding debt of
approximately GBP4,767,000.
Robert Bodnar-Horvath was appointed as a director of Dunkinfield
GC Management Company Limited on 1 August 2016 and resigned on 17
December 2019. Dunkinfield GC Management Company Limited owned land
and entered administration proceedings on 22 April 2020 and the
administrative process remains ongoing as at the date of this
announcement.
Robert Bodnar-Horvath was also appointed as a director of KEC
Development Company Limited on 27 January 2013 and resigned on 17
December 2019; KEC Development Company Limited also owned certain
freehold assets and entered administration proceedings on 22 April
2020 and the administrative process remains ongoing as at the date
of this announcement.
** Pulse Flexible Packaging Limited
Robert Bodnar-Horvath is a director of Pulse Flexible Packaging
Limited ("PFPL"). On 3 April 2017 administrators were appointed by
Pulse Flexible Packaging Pension Scheme Trustees Limited, which is
PFPL's largest secured creditor and which had a pre-appointment
liability of approximately GBP132 million. It is expected to suffer
a significant shortfall against this. Robert Bodnar-Horvath was
initially appointed at the request of the Pulse Flexible Packaging
Pension Scheme Trustees Limited to assist in recovering value in
PFPL.
Robert Bodnar-Horvath does not hold any shares or options in the
Company.
There is no further information regarding Robert Bodnar-Horvath
which is required to be disclosed under the AIM Rules.
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