Beale PLC Directorate Change (5599H)
16 Marzo 2015 - 9:10AM
UK Regulatory
TIDMBAE
RNS Number : 5599H
Beale PLC
16 March 2015
BEALE PLC
("Beale" or the "Company")
CHANGES IN DIRECTORATE
Further to the announcement of 20 February 2015 that the
recommended cash offer for Beale by English Rose Enterprises
Limited had been declared unconditional, Beale announces the
following directorate changes:
Resignation
Ms. Cath Norgate-Hart has resigned as a non-executive director
of Beale with immediate effect. The Board wishes to thank Ms.
Norgate-Hart for her contribution to the Company and wishes her
success for the future.
Mr. William Tuffy has agreed to remain on the board as a
non-executive director in order to assist with the handover
process.
Appointments
Mr. Andrew Perloff joins the board as non-executive director
with immediate effect.
Mr Perloff was a director of Highway Capital PLC from July 2009
to September 2011, at the time a shell company, listed on the
London Stock Exchange.
Mr. Perloff is the Executive Chairman and CEO of Panther
Securities Plc and a non-executive Director of Airsprung PLC.
Under paragraph 9.6.13(3) of the listing rules it is disclosed
that, Mr. Perloff was a Director of Wimbledon Studios Ltd, in which
he had a personal holding as well as this being an associate of
Panther Securities PLC. The Board of Wimbledon Studios Ltd
including Mr. Perloff, appointed KPMG administrators on 5 August
2014. The company had been loss making since its incorporation in
2010 and was funded by Panther Securities PLC, which decided it
would not continue funding the business. Panther Securities PLC
board funded a slower administration process rather than a
liquidation, which would have been significantly cheaper. This was
in order to assist the employees and small businesses which
operated from the Studio location. They suffered less disruption
and with the slower run down, made possible by the administration
process, they were able to arrange alternative premises and
organize their operations.
Mr. Simon Peters joins the board as non-executive director with
immediate effect.
Simon joined Panther Securities PLC in 2004 and became a
director in 2005. He is currently the finance director of Panther
Securities Plc and a non-executive director of Airsprung PLC.
Between 1999 and 2004 Simon was with KPMG. Between April 2010 and
April 2013 Simon was a non-executive director at Beale and from
October 2013 until July 2014.
Mr. Stuart Lyons CBE, joins the board as non-executive director
and Chairman with immediate effect.
Stuart has considerable experience in consumer product, retail
and service industries. Stuart is also Chairman of the furniture
manufacturer and distributor Airsprung Group PLC. In his executive
career, he was Managing Director of UDS Group plc, which owned the
Allders Department Stores, Richard Shops, John Collier and Timpson
businesses. Subsequently, he joined Pearson plc, where he was
Chairman and Chief Executive of the Royal Doulton group. As a
non-executive, he has been Chairman of the British Ceramic
Confederation, the West Midlands Development Agency, Gartmore
Absolute Growth and Income Trust PLC, The Wensum Company plc and
the Development Board of King's College, Cambridge. He has served
on the Monopolies and Mergers Commission, and as a front-bench
advisor on Trade and Industry. Mr. Lyons was also a non-executive
director of Beale between April and October 2013.
There are no further disclosures under paragraph 9.6.13 of the
Listing rules in relation to Mr. Perloff, Mr. Peters and Mr.
Lyons.
Further Information
Beale PLC Tel: 01202 552 022
Michael Hitchcock, Chief Executive
Shore Capital Tel: 0207 408 4090
Anita Ghanekar
Edward Mansfield
Buchanan Tel: 0207 466 5000
Charles Ryland
Sophie McNulty
Gabriella Clinkard
This information is provided by RNS
The company news service from the London Stock Exchange
END
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