Trading Update And Board Changes

RNS Number : 6351H

Belvoir Lettings PLC

21 May 2014

 



For Immediate Release                                                                                                                                      21 May 2014

BELVOIR LETTINGS PLC

(the "Company" or "Belvoir") 

Trading Update

And

Board Changes

Trading Update:

Belvoir Lettings plc (AIM:BLV), one of the UK's largest lettings franchises, today announces that trading during the current year to date has been positive and that MSF (Managed Service Fee) which is a clear indicator of underlying trading is performing well. Additionally, the acquisition programme remains promising and overall, the Board of Belvoir is encouraged by the outlook.

Board changes:

Carl Chadwick has advised the Board of his intention to step down as CEO and to leave the Company with immediate effect in order to focus on his other business interests, which include his role as CEO of Sun Axis Corporate Finance.

Mike Goddard, Executive Chairman, will resume the role of CEO, supported by Dorian Gonsalves, Director of Commercial and Franchising, who will continue his full time operational responsibilities, overseeing the day-to-day running of the business.

In addition, the Board is pleased to announce the appointment of Louise George as Finance Director. Louise is a Chartered Accountant and Chartered Secretary, having qualified with Ernst & Young in 1991. Louise will be taking up her Board appointment with the Company following an agreed handover period with her existing employer, AIM listed Image Scan Holdings plc, which she joined in 2002, being appointed Finance Director in 2005. 

Mike Goddard, CEO commented:

"I am encouraged that the year to date has started well for Belvoir. I would also like to take this opportunity to thank Carl for his significant contribution to Belvoir, particularly over the past three years during which he has held the positions of Finance Director and more recently CEO. His decision to step up into the role of CEO in March this year was greatly appreciated by the Board.

We respect his decision to focus on leading Sun Axis, with which we look forward to continuing working on acquisition related opportunities.  

On behalf of the Board I would also like to welcome Louise to the team. Her considerable public company experience and expertise will prove to be of great value to Belvoir. I am confident that the business can continue to go from strength to strength with myself, Dorian and Louise leading the Company."

The following information is required to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.

Louise Joan George, aged 48, has no current directorships or partnerships but has been a director of the following companies during the last five years: Image Scan Holdings plc, 3DX-Ray Limited and Stereo Scan Systems Limited.

Save as disclosed there are no further disclosures in respect of Louise George required to be made pursuant to Schedule 2(g) of the AIM Rules.

For further details:

Belvoir Lettings PLC Mike Goddard, Chairman and CEO Dorian Gonsalves,  Director of Commercial and Franchising	01476 584900
Cantor Fitzgerald Europe Rick Thompson, David Foreman, Corporate Finance David Banks,  Corporate Broking	0207 894 7000
Buchanan Charles Ryland, Gabriella Clinkard	0207 466 5000

 

END

 

 

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