Directorate Change

RNS Number : 0683R

React Group PLC

18 September 2017

 

18 September 2017

REACT Group PLC

("REACT" or the "Company)

Directorate change

REACT Group PLC, the specialist provider of rapid response deep cleaning and emergency decontamination services, is pleased to announce the re-appointment of Simon Woolley as a non-executive director.

Simon re-joins the Board, having previously sat on the REACT board from February 2016 until January 2017. Simon is a qualified solicitor having been a partner at DLA Piper from 1993 to 2009. This included acting as Managing Partner of DLA Piper's Manchester office from 2006 to 2009, and sitting on the DLA Piper International LLP main board from 2005 to 2008. He has significant experience as an advisor to a public and private companies and has acted on over 400 transactions across a number of sectors (with deal values up to £1.1 billion). Simon left DLA Piper to found EOS Law LLP, a start-up full service business law firm. Despite growing strongly over two years, the business entered administration following withdrawal of bank support. Simon has since been providing corporate finance and strategic advice to entrepreneurial businesses and has more recently founded and established Bamboo Capital (authorised by the FCA for private equity and fund management), as well as attempting the non-trading rescue and restructure of a consumer finance business (Aghoco 1087 Limited)

In addition, non-executive director Steven Metcalfe has stepped down from the Board with immediate effect. The Company thanks Steven for his contribution to the Company over recent months.

Save for the information above and below, there are no further disclosures to be made in accordance with Rule 17, Schedule 2(g) of the AIM Rules for Companies in respect of the appointment of Simon Woolley.

Mr Woolley's full name is Robert Simon Woolley; he is 50 years old.

Mr Woolley currently holds the following directorships/partnerships:

RSW Law Limited

Bamboo Capital Management Limited

EOS Law LLP 

Future Perfect Partners LLP

RSW Advisory Services LLP

RSW Corporate Member Limited

The Invicta Film Partnership No.20, LLP

Woollco Limited

Woollco Service Company Limited

Aghoco 1087 Limited (in Administration)

Directorships and partnerships held within the last five years:

Mr Woolley was a member of Zero Paper LLP. The company was dissolved via voluntary solvent strike-off on 28 February 2012.

Mr Woolley was a director of Bamboo Law Limited, Bamboo Advisory Limited, Bamboo Legal Consulting Limited, Bamboo Legal Limited, Bamboo HR Consulting and Bamboo Health & Safety Limited. These five dormant companies (held for name protection) were dissolved via voluntary solvent strike-off on 18 March 2014.

Mr Woolley was a director of Hermes Debt Advisory Limited and Hermes Real Estate Debt Advisory Limited. Both dormant companies (held for name protection) were dissolved via voluntary solvent strike-off on 27 January 2015.

Mr Woolley was a director of Hermes Advisory Service Limited which was a SRA regulated law firm assisting client with claim for mis-sold interest rate hedging products. Following the firm becoming dormant, the company was dissolved on 30 May 2017.

EOS Law LLP was placed in administration on 4 December 2013. According to the statement of affairs there was a shortfall to creditors of £2.3 million at the date of administration. Mr Woolley and an associated family entity were the largest creditors. EOS Law LLP is now in liquidation.

Mr Woolley was also a director of EOS Law Service Company Limited (the service company to EOS Law LLP). The company filed for a creditors' voluntary winding up on 18 August 2015. According to the statement of affairs, there was a shortfall to creditors of £172,000 (principally HMRC in respect of PAYE). The company was liquidated and dissolved on 18 November 2015.

Following the administration of EOS Law LLP, and for which Mr Woolley had provided a personal guarantee to EOS Law's bank, Mr Woolley entered into an individual voluntary arrangement ("IVA") with creditors in December 2014. The IVA was completed in early January 2016, following a settlement payment in line with the agreed terms of the IVA.

Mr Woolley was requested by a entity controlled by the Woolley family to assist with the possible restructure and rescue of a company (Aghoco 1087 Limited) to which that family entity had advanced substantial funds. It was necessary for Mr Woolley to become a director of Aghoco 1087 Limited on 31 October 2016 to pursue the non-trading restructure. Ultimately, this was not possible and the company was placed into administration on 10 August 2017. The statement of affairs has not yet been issued, however the family entity is the overwhelmingly largest creditor.

For further information, please contact:

REACT Group plc

Gill Leates - Chairman                                                                                                                          07799 662642

SPARK Advisory Partners Limited

Neil Baldwin                                                                                                                                            0113 370 8974

Mark Brady                                                                                                                                               0113 379 8971

 

END

 

 

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