Completion of placing, new board and name change

RNS Number : 2594N

Marlowe Holdings Limited

15 May 2015

 



15 May, 2015

Marlowe Holdings Limited

(previously Shellshock Limited)

(the "Company")

Completion of placing, new board appointments and change of name

Completion of placing

The Company is pleased to announce that, following admission of the newly issued shares to trading on AIM, the placing to raise £5.2m is now complete.   

Board changes

The proposed changes to the Board, which were announced on 11 May 2015, have now been implemented with immediate effect, as detailed below.

Alex Dacre, Chief Executive, has a background in the quoted business-to-business services sector and an expertise in executing buy-and-build growth strategies. Most recently he directed Impellam Group plc's ("Impellam") corporate development activities, completing a number of significant acquisitions including the transformational £73m acquisition of Lorien Resourcing, a UK market leader in technology recruitment with £350m in revenues. During an 18 month period of acquisitions, Impellam saw its market capitalisation more than double to over £400m today and it became the UK's second largest temporary staffing business. Prior to this, he worked with Charles Skinner to turn around AIM-listed Restore plc into one of the UK's leading office services companies and a leading consolidator in the document management and commercial relocation sectors.

Derek O'Neill, Finance Director, was Chief Executive and a majority shareholder of Lorien Resourcing, a £350m revenue market leader in technology recruitment, until its recent sale to Impellam Group plc. He has previously been on the Board of two listed companies including Deltron Electronics plc. He spent 12 years as an executive director of a number of private equity backed businesses and also as an executive director in a diverse range of sectors, including house building, electronics, engineering, telecommunications, logistics and recruitment. He is currently a non-executive director of Impellam.

Charles Skinner, Non-Executive Director, is Chief Executive of Restore plc, the AIM-listed provider of office services. Under his leadership its market capitalisation has grown from £1m to over £200m today. He was previously Chief Executive of Johnson Services Group plc and Brandon Hire plc, prior to which he was at SG Warburg, 3i plc and was Editor of Management Today. Charles has 16 years' experience as Chief Executive of quoted companies, all operating in the business to business service sector.

Peter Gaze will continue as a Non-Executive Director, a role he has held since 2006. He is also the Chief Financial Officer and a Director of BCB Holdings Limited and of Waterloo Investment Holdings Limited.

The new Board will not be receiving any remuneration until such time as the first acquisition is undertaken by the Company.

Philip Johnson and Philip Osborne have resigned from the Board with immediate effect.

Change of name to Marlowe Holdings Limited

The Company's proposed change of name from Shellshock Limited to Marlowe Holdings Limited is now in effect. The Company's new EPIC is MRL and its ISIN remains unchanged.

Enquires and further information

Marlowe Holdings Limited

Alex Dacre                              [e-mail]

Cenkos Securities

Nicholas Wells                        [phone]

 

END

 

 

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