REG - Northern Bear Plc - Board Changes

Northern BearAnnouncement

18/01/2024 07:45

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RNS Number : 1391A  Northern Bear Plc  18 January 2024

 

18 January 2024

Northern Bear plc

("Northern Bear," the "Company")

 

Board Changes

Northern Bear (LSE:NTBR), the AIM quoted holding company of the group of
companies providing specialist building and support services headquartered
in Northern England and serving customers across the UK, announces the
following changes to the Board of Directors of the Company:

Keith Soulsby

Keith Soulsby, Group Operations Director, has notified the Board of his
decision to retire and accordingly will be ceasing his role with the Company
and retiring as a Director with effect from 31 March 2024.

Keith has enjoyed a long and successful career in the construction industry,
having founded Wensley Roofing Limited and built it into an established, well
regarded roofing contractor in the North East of England.

Wensley Roofing was one of the four companies that were amalgamated to form
the initial Northern Bear Group upon Admission to AIM in 2006. Keith has been
a Board member of the Company for the majority of the subsequent period.  He
has made a huge contribution to the Group's success and has been a trusted and
valued colleague to everyone at Northern Bear.  Keith has overseen the
Group's commercial and operational activities since March 2020 and has helped
to steer the Group through some major challenges since then, including the
COVID-19 pandemic and related labour and supply chain issues.

Keith retires with the best wishes from all of his colleagues, and we wish him
and his family every success and happiness in his retirement.

John Davies

The Board is pleased to announce the appointment of John Davies as an
Executive Director of the Company with immediate effect.

John was appointed as Managing Director of Arcas Building Solutions Limited
("Arcas") in June 2023, and has since made significant operational and
commercial improvements to that business.

John has had an illustrious career in the construction industry and held
senior positions as Managing Director of Meldrum Group and Chief Operating
Officer of Esh Group, at which he oversaw substantial profitable growth.  The
ultimate aim when John was recruited was to provide succession for Keith
Soulsby, and John has operated as part of the Group's senior management team
in recent months.

John will become Group Chief Executive Officer with effect from 1 April
2024.  We would like to welcome John to the Board, and all look forward to
working with him.  In the short term, John will also continue to oversee
operations at Arcas.

Steve Roberts

The Board is also pleased to announce the reappointment, with immediate
effect, of Steve Roberts as an Executive Director of the Company.  Upon
standing down as Executive Chairman in August 2021, Steve remained part of the
Group's operational management team and a director of all subsidiary
companies.  Steve has also been involved with the Group since inception and
has served as both Group Finance Director and Executive Chairman.  Given his
vast experience of the Group and its employees, Steve will provide valuable
continuity to the Board and support John as he transitions to his role as
Group CEO.

 

Further information:

The following details in relation to the appointments of John Davies and Steve
Roberts as directors of the Company are disclosed in accordance with AIM Rule
17 and Schedule 2(g) of the AIM Rules:

John Peter Davies (aged 57) has held the following directorships and/or
partnerships in the past five years:

 Current Directorships/Partnerships  Past Directorships/Partnerships (last five years)
 Arcas Building Solutions Limited    Border Construction (Holdings) Limited
                                     Border Construction Limited
                                     Dunelm National Projects Limited
                                     ESH Construction Limited
                                     ESH Holdings Limited
                                     ESH Investments Limited
                                     ESH Remedios Limited
                                     ESH Stantec Limited
                                     Finlaysons Contracts Limited
                                     Lumsden & Carroll Limited
                                     Meldrum Construction Services Group Limited
                                     North Tyneside Academy Foundation
                                     Remedios Limited
                                     Stephen Easten Building Limited

 

Steven Mark Roberts (aged 57) has held the following directorships and/or
partnerships in the past five years:

 Current Directorships/Partnerships              Past Directorships/Partnerships (last five years)
 A1 Industrial Trucks Limited                    Gliderol Development Capital Ltd
 Alcor Handling Solutions Limited                H Peel & Sons (Holdings) Limited
 Arcas Building Solutions Limited                Jennings Properties Limited
 Gliderol Garage & Industrial Doors Limited      King Street Property (Leeds) LLP
 Gliderol Holdings Limited                       Lister Holdings (York) Limited
 H. Peel & Sons Limited                          Northern Bear PLC
 Isoler Limited                                  Panacea Investments Number 2 Limited
 J Lister Electrical Limited                     Panacea Property Ventures No.3 Ltd
 Jennings Roofing Limited                        Panacera Stranda Holdings Ltd
 MGM Ltd                                         Safer Access Structures Limited
 Nell Dorada LLP                                 SRC Consulting 2 Limited
 Neighbourhood (Holdings) Limited
 Northern Bear (Safety) Limited
 Northern Bear Construction Limited
 Northern Bear Roofing Limited
 Panacea Investment Group Limited
 Springs Roofing Limited
 SRC Consultancy Limited
 STJ Asset Management Limited
 System Roofing Services Limited
 Wensley Roofing Limited

Steve Roberts currently holds 813,300 shares in the Company.

Save as disclosed above, there is no further information to be disclosed in
relation to the director appointments pursuant to AIM Rule 17 or Schedule Two,
paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

For further information, please contact:

 Northern Bear PLC                               +44 (0) 166 182 0369

 Harry Samuel - Interim Non-Executive Chairman

 Tom Hayes - Finance Director

 Strand Hanson Limited (Nominated Adviser)       +44 (0) 20 7409 3494

 James Harris

 James Bellman

 Hybridan LLP (Nominated Broker)                 +44 (0) 20 3764 2341

 Clarie Louise Noyce

 

 

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 it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018.

 

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