| LPA GROUP PLC (“LPA” or “the Group”) |
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| Appointment of Per Staehr
LPA Group PLC (“LPA” or “the Group”), the manufacturer and distributor of lighting, power and electronics systems, is pleased to confirm the appointment of Mr. Per Staehr as a non-executive Director, with immediate effect. Mr. Staehr, aged 64, is a Danish national who has had a distinguished international career in the Rail, Shipping and Energy Industries.
Until 2004 he was successively Chief Executive Officer, Chairman and Chief Country Representative of Bombardier Transportation UK Limited. He is a director of Arrow Light Rail Limited, which is the concessionaire of the Nottingham Tram System, and Chairman of the Rail Media Group. He was previously Chairman of the Railway Industry Association.
Mr. Staehr is Chairman of A2SEA A/S, the leading European offshore wind farm installation and support contractor. He was previously President of Maersk Contractors, a global offshore drilling and contracting company. He is also a Director of Trico Marine Services Inc, a US quoted owner and operator of offshore service vessels.
He is Chairman of Daniamant Group, a Danish/UK designer and manufacturer of IMO/Solas Marine Emergency Lights and of Riegens Limited a designer and manufacturer of Lighting Solutions for retail projects.
A complete list of directorships is shown below.
Michael Rusch, Chairman, comments:
“I am delighted to welcome Per to our Board. He brings a wealth of experience, knowledge and contacts, which will be invaluable to the Group as we face the challenges before us.”
Current directorships/partnerships of Mr. Staehr:
Directorships/partnerships held by Mr. Staehr in the last 5 years:
There are no further disclosures to be made in respect of Mr. Staehr in relation to Schedule 2(g) of the AIM Rules.
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Appointment of director
Potential sale of Saffron Walden site
LPA Group PLC (“LPA” or “the Group”) is a manufacturer and distributor of lighting, power and electronics systems.
In line with the Group’s strategy, as outlined in the Annual Report published on 24 January 2007, the board has been evaluating a possible sale of its freehold site at Saffron Walden, where there is potential to realise value for shareholders by relocating manufacturing activity and selling the site for residential re-development.
The board appointed King Sturge to advise on a fair value of the site and separately sought and received a conditional offer of £2.2m for the 1.4 acre site from a major house-builder. This offer is in excess of both the £0.5m book value and the £1.045m existing use value.
An initial assessment of the site by King Sturge suggests that a sale could realise a value in excess of the current offer. Given the potential profit from a site sale, King Sturge has been instructed to begin formally marketing the site and help identify suitable alternative premises to which to re-locate manufacturing activity.
Peter Pollock, Chief Executive, comments:
“We are committed to maximising shareholder value. Given the interest in the site and the significant potential profit that could be realised from a sale, and the current window of opportunity allowed by the previously indicated gap in our Saffron Walden programme, between the conclusion and recommencement of major rail project work, we are actively assessing the cost and other issues surrounding the relocation of activities from the site.”
| LPA Group plc Steven Brett, Finance Director Peter Pollock, Chief Executive
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Tel: 07881 626127 or 01799 512860 Tel: 01799 512844 |
| Landsbanki Securities (UK) Ltd Thilo Hoffman
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Tel: 020 7426 9000 |
| College Hill Gareth David |
Tel: 020 7457 2020 |
AIM Rule 26 compliant website and change of advisor name
| LPA Group PLC (“the Company”) | ||||||
| 16 August 2007 AIM Rule 26 compliant website and change of adviser name.
The Company today announces that the information required by Rule 26 of the AIM Rules for Companies (February 2007) is available within the “Investor information” section of the Company’s website at www.lpa-group.com.
The Company today also announces that, following its adviser’s change of name from Teather & Greenwood Limited to Landsbanki Securities (UK) Limited with effect from 9 August 2007, the name of the Company’s nominated adviser and broker has changed to Landsbanki Securities (UK) Limited.
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Total voting rights
| LPA Group PLC (“the Company”) |
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31 July 2007
Total Voting Rights
In conformity with the Transparency Directive’s transitional provision 6, the Company notifies the market of the following:
As at the date of this announcement, the Company’s issued share capital consists of 11,368,229 ordinary shares with a nominal value of 10 pence each (“Ordinary Shares”), with voting rights. The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares with voting rights is 11,368,229.
The above figure of 11,368,229 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA’s Disclosure and Transparency Rules |
Dealings by directors
| LPA GROUP PLC |
| 31 JULY 2007
DEALINGS BY DIRECTORS
1) NAME OF COMPANY LPA GROUP PLC
2) NAME OF DIRECTOR PETER GLEN POLLOCK
3) Please state whether notification indicates that it is in respect of holding of the director named in 2 above or holding of that person’s spouse or children under the age of 18 or in respect of a non-beneficial interest DIRECTOR NAMED IN 2 ABOVE
4) Date of grant 31 JULY 2007
5) Period during which or date on which exercisable 31 JULY 2010 – 30 JULY 2017
6) Total amount paid (if any) for grant of the option N/A
7) Description of shares or debentures involved: class, number 540,000 ORDINARY SHARES OF 10P
8) Exercise price (if fixed at time of grant) or indication that grant is to be fixed at time of exercise 36P
9) Total number of shares or debentures over which options held following this notification 750,000
10) Any additional information N/A
11) Name of contact and telephone number for queries STEPHEN BRETT, COMPANY SECRETARY – 01799 512 860
12) Name and signature of authorised company official responsible for making this notification STEPHEN BRETT
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Dealings by directors
| LPA GROUP PLC |
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31 JULY 2007 DEALINGS BY DIRECTORS 1) NAME OF COMPANY LPA GROUP PLC 2) NAME OF DIRECTOR STEPHEN KENNETH BRETT 3) Please state whether notification indicates that it is in respect of holding of the director named in 2 above or holding of that person’s spouse or children under the age of 18 or in respect of a non-beneficial interest DIRECTOR NAMED IN 2 ABOVE 4) Date of grant 31 JULY 2007 5) Period during which or date on which exercisable 31 JULY 2010 – 30 JULY 2017 6) Total amount paid (if any) for grant of the option N/A 7) Description of shares or debentures involved: class, number 235,000 ORDINARY SHARES OF 10P 8) Exercise price (if fixed at time of grant) or indication that grant is to be fixed at time of exercise 36P 9) Total number of shares or debentures over which options held following this notification 500,000 10) Any additional information N/A 11) Name of contact and telephone number for queries STEPHEN BRETT, COMPANY SECRETARY – 01799 512 860 12) Name and signature of authorised company official responsible for making this notification STEPHEN BRETT Date of notification 31 JULY 2007 |
Issue of equity
| LPA Group Plc |
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20 July 2007
Allotment of shares
LPA Group Plc (“the Company”) announces it has applied for 50,000 ordinary shares of 10p each to be admitted to trading on AIM.
The shares were issued pursuant to the exercise of share options (at an option price of 13p). These shares will rank pari passu with the existing ordinary shares of the Company.
Following admission the share capital of the Company will be 11,368,229 ordinary shares. Dealings in the new shares are expected to commence on 26 July 2007. |
Dealings by directors
| LPA Group PLC |
| Directors Dealings
LPA Group PLC (“the Company”) has been notified today that on 13 July 2007 Peter Pollock, an Executive Director, transferred 40,000 Ordinary Shares in the Company at a price of 38p per Ordinary Share to his pension fund at James Hay Pension Trustees.
Mr. Pollock’s beneficial interest in the Company has not changed as a result of this transfer and remains as below:
Number of Ordinary Shares held 600,000
Interest in issued Ordinary Share capital 5.30% |
Interim results
| INTERIM ANNOUNCEMENT OF UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2007 |
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| LPA Group Plc, the electrical and electronic equipment manufacturer and distributor, announces a return to profit in the six months ended 31 March 2007.
KEY POINTS
Peter Pollock, Chief Executive, commented
We have enjoyed a much improved performance, which has nothing to do with the intervention of third parties and everything to do with the hard work the team have put in, rebuilding the Group from the grave situation that existed in 2003. The second half is looking good too. There are challenges in the longer term to be addressed, but we have the strategy to deal with them. The Group is in robust shape and we are looking forward to the future with improved confidence.
27 June 2007
Interim Unaudited Group Results for the Six Months ended 31 March 2007
CHAIRMAN’S STATEMENT
In my remarks to the Annual General Meeting held in February, I commented that the start to the new financial year had been strong. I am pleased to report that this has continued into the second half and that the year as a whole should be satisfactory.
Some of this present strength is due to customers bringing forward projects from the first half of next financial year. While this has had a welcome effect on this year, the next financial year will be a challenge until already secured rail projects come online in the fourth quarter. This presents opportunities to adjust our UK capacity to better reflect the base load going forward, with additional activity being satisfied from offshore.
Sales output increased 29% to £8.6m (2006: £6.7m), and order intake increased by 11% to £7.2m but this continues to exclude the full value of projects for which we have been selected but orders not placed. Profit before tax in the first half amounted to £156,000 an increase of £305,000 over the loss of £149,000 in the corresponding period last year.
I should mention that this improvement reflects the work of all our staff in facing and overcoming the severe challenges of the last five years, and was achieved despite including costs of £52,000 spent in protecting shareholders from tendering their shares to Andrew Perloff at an unacceptably low price, and in ensuring that the Annual General Meeting was, as usual, conducted in the interests of all shareholders.
All business units have contributed to the improvement in profitability, but the progress at Haswell Engineers is particularly pleasing since the operation has overcome significant difficulties to achieve a much stronger market position and become a solid performer.
The net cash inflow before financing remained positive at £22,000 (2006: £86,000) despite the investment in working capital to support the sharply increased level of activity. Cash flow has been stronger at the beginning of the second half, reflecting the sustained profitability and more modest growth.
The rail vehicle equipment market remains challenging worldwide. Concentration on builders supplying the UK market has resulted in contracts from UK, Germany, Sweden, France and Japan. A greater footprint in markets in Asia and Australasia has also been achieved. Immediate opportunities include extra coaches for West Coast Mainline which, if the order is placed, would have a significant impact on the final quarter of next financial year and subsequent periods.
Our LED lighting technology for rail vehicles is increasingly recognised as world class with initial opportunities in Europe, which have the potential to result in major contracts. This technology has potential beyond rail vehicles in the areas of infrastructure, aerospace and defence.
Given the strong trading in the current year the directors intend to pay an increased interim dividend of 0.20p (2006: 0.15p) on 28 September 2007 to shareholders registered at the close of business on 7 September 2007.
Your Board expects strong progress during the remainder of this year, which will however be tempered by the preparation needed to meet the challenges of next financial year, when the load will not be so strong, and appropriately structure the Group for the improved load already on hand for subsequent periods.
The Group will develop low cost country sourcing and manufacture as a major priority, while maintaining its centres of sales and engineering excellence in the UK.
Michael Rusch Chairman
27 June 2007 LPA GROUP PLC
Interim Unaudited Group Results for the Six Months ended 31 March 2007
CONSOLIDATED PROFIT AND LOSS ACCOUNT
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
LPA GROUP PLC
Interim Unaudited Group Results for the Six Months ended 31 March 2007 CONSOLIDATED BALANCE SHEET
LPA GROUP PLC
Interim Unaudited Group Results for the Six Months ended 31 March 2007
CONSOLIDATED CASH FLOW STATEMENT
RECONCILIATION OF OPERATING PROFIT / (LOSS) TO NET CASH INFLOW FROM OPERATING ACTIVITIES
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
LPA GROUP PLC
NOTES
1 – ACCOUNTING POLICIES
The interim financial information has been prepared on the basis of the accounting policies set out in the Group’s statutory accounts for the year ended 30 September 2006, except that FRS20 “Share Based Payments” will be adopted for the first time in the accounts to the year ended 30 September 2007.
receive share options, is determined by reference to the fair value at the date of grant. The cost is recognised in the profit and loss account over the vesting period. Comparative figures have not been restated as there is not a material impact on either net assets at September 2006 and March 2006 or earnings in the year to September 2006 and the half year to 31 March 2006 arising from the adoption of FRS20.
2 – EARNINGS PER SHARE
The calculation of basic earnings per share is based upon the profit after tax of £115,000 (2006: loss of £130,000) and the weighted average number of ordinary shares in issue during the period of 10.945m (2006: 10.903m).
The weighted average number of ordinary shares diluted for the effect of outstanding share options was 11.046m.
Due to losses in the prior year no dilution arises and diluted earnings per share is therefore shown as the same as basic earnings per share. Adjusted earnings per share, which is disclosed to reflect the underlying performance of the Company, has been calculated on a profit of £162,000 (2006: loss of £84,000) being the profit after tax for the year before the amortisation of goodwill.
Details are as follows:
3 – NET FINANCE INCOME
LPA
4 – INFORMATION
The financial information contained in this interim statement does not constitute statutory accounts as defined in section 240 of the Companies Act 1985.
The financial information for the full preceding year is based on the statutory accounts for the financial year ended 30 September 2006. Those accounts, upon which the auditors issued an unqualified opinion, have been delivered to the Registrar of Companies. |
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Total voting rights
| LPA Group PLC |
| 30 April 2007
LPA Group PLC (the ‘Company’)
Total Voting Rights
In conformity with the Transparency Directive’s transitional provision 6, the Company notifies the market of the following:
As at the date of this announcement, the Company’s issued share capital consists of 11,318,229 ordinary shares with a nominal value of 10 pence each (‘Ordinary Shares’), with voting rights. The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares with voting rights is 11,318,229.
The above figure of 11,318,229 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA’s Disclosure and Transparency Rules. |
Issue of equity / dealings by directors
| LPA Group PLC | ||
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19 April 2007
Directors Dealings
LPA Group PLC (‘the Company’) has been notified that on 19 April 2007 Peter
Pollock, an Executive Director, exercised an option to purchase 330,000 new ordinary shares of 10p each in the Company (‘Ordinary Shares’) at an option price of 40 pence per Ordinary Share, as follows:
Number of Ordinary Shares acquired 330,000 Number of Ordinary Shares now held 600,000 Interest in revised issued Ordinary Share capital 5.30%
Application has been made for the new Ordinary Shares to be admitted to trading on AIM on or around 25 April 2007. The new Ordinary Shares will rank pari passu with the existing ordinary share capital of the Company and have been allotted and issued credited as fully paid.
Following the exercise of the options the revised number of issued Ordinary Shares is 11,318,229.
The Company has also received notification from Mr. Pollock that on the same day he transferred 220,000 Ordinary Shares in the Company at a price of 40p per Ordinary Share to his pension fund at James Hay Pension Trustees. Mr. Pollock’s beneficial interest in the Company has not changed as a result of this transfer.
For further information, please contact:
LPA Group PLC
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Issue of equity
| LPA GROUP PLC (“LPA” or the “Group”) |
|
12 April 2007
LPA Group Plc (LPA)
LPA announces it has applied for 30,000 ordinary shares of 10p each to be admitted to trading on AIM. The shares were issued pursuant to the exercise of share options (at an option price of 32p).
These shares will rank pari passu with the existing ordinary shares of the Company. Following admission the share capital of the Company will be 10,988,229 ordinary shares. Dealings are expected to commence on 17 April 2007. |
Issue of equity
| LPA GROUP PLC (“LPA” or the “Group”) |
|
22 March 2007
LPA Group Plc (LPA)
LPA announces it has applied for 5,000 ordinary shares of 10p each to be admitted to trading on AIM. The shares were issued pursuant to the exercise of share options (at an option price of 13p). These shares will rank pari passu with the existing ordinary shares of the Company.
Following admission the share capital of the Company will be 10,958,229 ordinary shares. Dealings are expected to commence on 28 March 2007. |
Dealings by directors
| LPA GROUP PLC (“LPA” or the “Group”) |
| 08 MARCH 2007
DEALINGS BY DIRECTORS
1) NAME OF COMPANY LPA GROUP PLC
2) NAME OF DIRECTOR STEPHEN KENNETH BRETT
3) Please state whether notification indicates that it is in respect of holding of the director named in 2 above or holding of that person’s spouse or children under the age of 18 or in respect of a non-beneficial interest DIRECTOR NAMED IN 2 ABOVE
4) Date of grant 07 MARCH 2007
5) Period during which or date on which exercisable 08 MARCH 2010 – 07 MARCH 2017
6) Total amount paid (if any) for grant of the option N/A
7) Description of shares or debentures involved: class, number 15,000 ORDINARY SHARES OF 10P
8) Exercise price (if fixed at time of grant) or indication that grant is to be fixed at time of exercise 39P
9) Total number of shares or debentures over which options held following this notification 265,000
10) Any additional information N/A
11) Name of contact and telephone number for queries STEPHEN BRETT, COMPANY SECRETARY – 01799 512 860
12) Name and signature of authorised company official responsible for making this notification
STEPHEN BRETT
Date of notification
08 MARCH 2007 END |
Dealings by directors
| LPA GROUP PLC (“LPA” or the “Group”) |
|
8 MARCH 2007
DEALINGS BY DIRECTORS
1) NAME OF COMPANY LPA GROUP PLC
2) NAME OF DIRECTOR PETER GLEN POLLOCK
3) Please state whether notification indicates that it is in respect of holding of the director named in 2 above or holding of that person’s spouse or children under the age of 18 or in respect of a non-beneficial interest DIRECTOR NAMED IN 2 ABOVE
4) Date of grant 07 MARCH 2007
5) Period during which or date on which exercisable 08 MARCH 2010 – 07 MARCH 2017
6) Total amount paid (if any) for grant of the option N/A
7) Description of shares or debentures involved: class, number 35,000 ORDINARY SHARES OF 10P
8) Exercise price (if fixed at time of grant) or indication that grant is to be fixed at time of exercise 39P
9) Total number of shares or debentures over which options held following this notification 960,000
10) Any additional information N/A
11) Name of contact and telephone number for queries STEPHEN BRETT, COMPANY SECRETARY – 01799 512 860
12) Name and signature of authorised company official responsible for making this notification
STEPHEN BRETT
Date of notification
08 MARCH 2007 |
Trading update and AGM results
| LPA Group Plc (or ‘the Company’) | ||||
|
26 February 2007
LPA Group PLC
Trading update and AGM results
LPA Group PLC, a manufacturer and distributor of lighting, power and electronics systems, announces a return to profits in the second half of the year to 30 September 2006 and strong start to the new financial year.
At today’s Annual General Meeting of LPA Group PLC, Michael Rusch, Chairman made the following comments: ‘I am pleased to confirm that the strong start the Group has made this year has continued and we are substantially ahead of last year and indeed of our own expectations for the current year to date.
‘While every unit across the Group has contributed to the progress thus far, LPA Haswell Engineers is enjoying strong current trading and in principle has agreed a two-year supply agreement with one of its larger customers worth approximately £3.0m, which should underpin its medium term future.
‘LPA Excil Electronics has received very important initial orders from French Railways and is tendering for several millions Euros of further orders for delivery over the coming years. ‘LPA Niphan will complete delivery of its first contract from Taiwan during March and is well placed to secure more orders from this new market. LPA-Channel Electric is progressing steadily.
‘Your board is united in its determination not to be distracted from its task of delivering progress in the current year despite the efforts of some shareholders to undermine the much improved performance.
‘The cost of protecting shareholders from unknowingly tendering their shares to Mr Perloff at an unacceptably low price has added about £50,000 of additional professional advisor’s costs in the year so far.
‘Your board looks towards a positive future. We know there are still issues to address and we are committed to that purpose. We look forward with confidence to steady progress.’
At the AGM today all the resolutions were passed, with the exception of resolutions 6 (to authorise the directors to allot shares for cash) and 7 (to authorise the company to make market purchases of its own shares) which did not secure the requisite 75% majority.
26 February 2007
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Preliminary announcement of results
Notifiable interest
| LPA Group Plc (or ‘the Company’) |
|
23 January 2007
Notifiable Interest
The Company received notification on the 22nd January from Andrew S. Perloff, that further to the 1,789,932 ordinary shares acquired under the Tender Offer, as announced on 17th November 2006, Mr Perloff isnow beneficially interested in 1,954,932 ordinary shares being 17.85% of the Company’s issued share capital. |