Directorate Change

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

 

END

 

 

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