John Lewis Of Hungerford PLC Directorate Changes (9163I)
06 Abril 2020 - 06:07AM
UK Regulatory
TIDMJLH
RNS Number : 9163I
John Lewis Of Hungerford PLC
06 April 2020
6 April 2020
John Lewis of Hungerford plc
(the "Company")
Directorate Changes
John Lewis of Hungerford Plc (AIM: JLH), the specialist
manufacturer and retailer of kitchens, bedrooms and freestanding
furniture, is pleased to announce the appointments of Alan Charlton
and Stephen Huggett as Non-executive Directors of the Company. The
Company also announces that James Barnard, Non-executive Director,
has resigned as a director of the Company. The changes are being
implemented with immediate effect.
Kiran Noonan, Managing Director, remains Acting Chairman until
an independent Non-executive Chairman is appointed.
Kiran Noonan, Acting Chairman said:
"We thank Jim for his great contribution to the Company over the
recent years and wish him well with his future plans. It is with
great pleasure that we welcome both Alan Charlton and Stephen
Huggett to the Board. We are confident that they bring with them
many years of financial and commercial experience which will stand
us in good stead as we navigate through these challenging times and
the future that lies ahead."
James Barnard commented:
"It is with regret that I have tendered my resignation to allow
me to spend more time on my other commitments at this time. I want
to thank all my colleagues in the Company for the support they have
given me during my tenure and wish them success over the years
ahead."
Alan Charlton has more than 30 years' experience in the retail
industry and has held senior roles across a wide range of
sub-sectors, including department stores, clothing retail and
furniture. His previous roles include 10 years as Finance Director
of the Austin Reed Group between 2006 and 2016, and various senior
positions within the Arcadia Group between 1994 and 2006, including
Group Commercial Director, Group Retail Planning Director, and
Finance Director of Burton Menswear and Dorothy Perkins. Alan
qualified as a Chartered Management Accountant in 1987. Alan
Charlton has acted in a consultant capacity to the Company since
February 2020.
Stephen Huggett, a Chartered Accountant, has over 30 years'
experience developing financial strategies within the
manufacturing, hospitality, retail, leisure and services sectors.
He has extensive corporate finance experience including flotations
in both the UK and USA. Having acted as Head of Finance to the
Company for 3 years until May 2019 Stephen's knowledge of the
business will be invaluable to the Board.
The directorships and partnerships currently held by Alan
Charlton and Stephen Huggett and over the five years preceding the
date of appointment are as follows:
Alan Christopher Charlton , aged 58
Current directorships/partnerships Previous directorships/partnerships
Sokalana Consulting Limited ARCS Realisations 2016 Limited (formerly Austin Reed
Credit Services Limited) (dissolved)
ARG (Finance) Limited
ARG (Property) Limited (in administration)
AR Realisations 2016 Limited (formerly Austin Reed
Limited) (in administration)
ARG Realisations 2016 Limited (formerly Austin Reed
Group Limited) (in administration)
Austins Café Bar Limited
Austins Grooming and Beauty Limited
Austin Reed International Limited
Austin Reed Share Ownership Limited
Austins Salon Limited
Austin Reed (Scotland) Limited
CC Petite Limited
CC Realisations 2016 Limited (formerly Country Casuals
Limited) (in administration)
CCH Realisations 2016 Limited (formerly Country Casuals
Holdings Limited) (dissolved)
Country Casuals Services Limited
Darius Capital Limited (dissolved)
FABB Projects Limited
Gajan Holdings Limited
Lerose Investments Limited
Lerose Leasing Limited
Simon Ackerman Limited
Stephens Brothers Limited
Summit Limited
Summit Shirt Company Limited
Wright and Peel Limited
Alan Charlton was appointed as a director of several subsidiary
companies within the Austin Reed Group on 5 June 2006, each of
which he resigned as a director from on 6 June 2016 as follows:
ARG (Property) Limited, AR Realisations 2016 Limited, ARG
Realisations 2016 Limited and CC Realisations 2016 Limited, each
entered into administration proceedings on 26 April 2016 which
remain ongoing. The latest administrators report dated 20 November
2019 shows that two secured creditors were owed a total of GBP25.41
million by the above 4 companies. One was paid GBP7.17 million in
full and the other has received distributions totalling GBP8.09
million to date out of a total of approximately GBP18.24
million.
Unsecured creditors for ARG Realisations 2016 Limited and AR
Realisations 2016 Limited totalled GBP15.01 million and GBP53.31
million respectively of which the administrators have distributed
funds representing a dividend rate of 3.80 pence in the pound and
0.22 pence in the pound, respectively.
Unsecured creditors for ARG (Property) Limited and CC
Realisations 2016 Limited totalled GBP0.77 million and GBP40.72
million respectively which the administrators estimated there would
not be sufficient funds to enable any future distribution.
In addition, CCH Realisations 2016 Limited entered into
administration proceedings on 26 April 2016 and the company was
dissolved on 12 July 2017. The company had no unsecured
creditors.
Administrators were appointed to Darius Capital Limited and ARCS
Realisations 2016 Limited on 6 May 2016. Darius Capital Limited was
dissolved on 12 July 2017 and ARCS Realisations 2016 Limited was
dissolved on 22 November 2017. Unsecured creditors for Darius
Capital Limited and ARCS Realisations 2016 Limited totalled
GBP40.81 million and GBP1.08 million respectively of which the
administrators anticipated paying nil and 2 pence in the pound,
respectively.
Stephen Philip Huggett , aged 62
Current directorships/partnerships Previous directorships/partnerships
Artefii Limited None
Alan Charlton holds 4,423,178 ordinary shares of 0.1p each in
the Company ("Ordinary Shares") representing 2.37% of the issued
share capital. Stephen Huggett does not hold any Ordinary
Shares.
There are no further disclosures to be made pursuant to Schedule
2 paragraph (g) of the AIM Rules.
Enquiries:
John Lewis of Hungerford plc
Kiran Noonan - Acting Chairman / Managing
Director 01235 774300
Cenkos Securities plc
Katy Birkin 0207 397 8900
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END
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