REG - Hornby PLC - Directorate Change

HornbyAnnouncement

15/11/2022 07:00

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RNS Number : 3404G  Hornby PLC  15 November 2022

15 November 2022

 

Hornby Plc

("Hornby" or the "Group")

 

 

Appointment of CEO

 

Hornby Plc, the international models and collectibles group, today
announces Oliver Raeburn, aged 52, has agreed to join the Group as CEO in
early 2023. Oliver is CEO of Aspen Phoenix NewCo Limited, trading as
Paperchase ("Paperchase").

 

Oliver has an extensive background in marketing, becoming Chief Marketing
Officer of Paperchase in 2019, whilst it was in a Creditors' Voluntary
Arrangement. He was promoted to CEO in 2020 and he guided the company through
an administration process during the Covid pandemic. This was followed by a
turnaround process, refinancing and sale of the business.

 

Upon Oliver starting in the business on 23 January 2023, Lyndon Davies, the
current Executive Chairman, will become Non-Executive Chairman.

 

Lyndon Davies, Hornby Chairman, commented:  "I am delighted to welcome Olly
to the board as Chief Executive Officer. He will bring his experience to
provide leadership for the Group in the next stage of our development. Hornby
will continue to build direct relationships with our customers and Olly is
ideally qualified to steer the Group through this process. I am happy to hand
over the reins to Olly, as he takes over my executive responsibilities."

 

The names of all companies and partnerships of which Oliver has been a
director or partner at any time in the previous five years are set out below:

 

 Current directorships and/or partnerships

 Aspen Phoenix Newco Limited
 Aspen Phoenix Topco Limited
 Paperchase Products Limited
 Murtrang Limited
 Murtranh Limited

 

Oliver holds no ordinary shares in Hornby.

Paperchase Products Limited, a company of which Oliver Raeburn was appointed a
director on 1 October 2020, entered into administration on 28 January 2021.
 There are currently no outstanding amounts due to creditors or members.

Murtrang Limited, the holding company of Paperchase Products Limited and a
company of which Oliver Raeburn was appointed a director on 1 October 2020,
was placed into voluntary creditors liquidation on 10 June 2021, the process
of which is ongoing. There are currently no outstanding amounts due to
creditors or members.

Murtranh Limited, the holding company of Murtrang Limited and a company of
which Oliver Raeburn was appointed a director on 1 October 2020, was placed
into voluntary creditors liquidation on 10 June 2021, the process of which is
ongoing. The current estimated amount that unsecured creditors have claimed is
£7,213,000 of which £5,043,000 has been paid to date.

Save as set out in this announcement, there are no further details to be
disclosed under Rule 17 or Schedule 2(g) of the AIM Rules for Companies in
respect of Oliver.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.

Enquiries:

Hornby PLC
Lyndon Davies                          01843 233 500
Kirstie Gould, CFO
 
Liberum Capital Limited, Nominated Advisor and Broker
Andrew Godber                         020 3100 2222
Edward Thomas
Miquela Bezuidenhoudt

 

 

 

 

 

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