Last checked at 9 Oct 2013 08:48
9 October 2013
Allergy Therapeutics plc
("Allergy Therapeutics" or "the Company")
Notification under AIM Rule Schedule Two (g)
Allergy Therapeutics plc (AIM: AGY), the specialist pharmaceutical company focused on allergy vaccination, makes the following update announcement under AIM Rule Schedule Two (g) regarding Stephen Smith, a non-executive director of Allergy Therapeutics plc.
In addition to being a non-executive director of the Company, Stephen Smith acts as a 'company doctor' working with companies in distressed situations and in some cases the role has required a restructuring through a pre-planned administration/receivership or a planned insolvency to ensure an orderly winding down of the business. In providing these services, Stephen Smith was appointed as a director of the companies listed below in Table 1 which had administrators, receivers or liquidators appointed. These companies were part of the following groups:
· Texon International Group where Stephen Smith was appointed a director in 2004 and subsequently there was a restructuring in 2005 through a receivership which created a viable group where he continues to be a director.
· Ethel Austin Group where Stephen Smith was appointed a director in 2005. In 2008 lenders sold their secured loans to a company which appointed administrators a few days later.
· The Food & Drink Group where Stephen Smith was appointed a director in 2008 and administrators were appointed in 2009 in a pre-planned process to achieve a sale of the profitable parts of the business.
· Paramount Restaurants Group where Stephen Smith was appointed a director in 2011 and later that year arranged a restructuring and subsequent pre-planned administration to achieve disposals of the profitable parts of the group.
· Ennstone plc where Stephen Smith was appointed a director in 2008 and administrators were appointed in 2009 to complete a restructuring which ensured the viability of the UK and European businesses and protected the US business via a Chapter 11 process.
Table 1
Company | Comments | |
ACLM Limited (in administration) | Part of Ethel Austin Group | |
Bluelodge Limited (in administration) | Part of The Food & Drink Group | |
Burlington Restaurant Limited (in administration) | Part of The Food & Drink Group | |
Ennstone plc (in administration) | Holding company | |
Enterprises Realisations Limited (in administration) | Part of The Food & Drink Group | |
Ethel Austin Retail Group Limited (in administration) | Part of Ethel Austin Group | |
Ethel Austin Retail Holdings Limited (in administration) | Part of Ethel Austin Group | |
Futurestar Limited (in administration) | Part of The Food & Drink Group | |
Group Realisations Limited (in administration) | Part of The Food & Drink Group | |
Hartford Operations Limited (in administration) | Part of The Food & Drink Group | |
J Bar Limited (in administration) | Part of The Food & Drink Group | |
Montana plc (in administration) | Part of The Food & Drink Group | |
Newtaste Restaurants Limited (in administration) | Part of The Food & Drink Group | |
Noteframe Limited (in administration) | Part of Ethel Austin Group | |
Noxet Administration Services Limited | Part of Texon International group | |
PWC Realisations Limited (in administration) | Part of The Food & Drink Group | |
Texon Group Limited | Part of Texon International group | |
Texon Holdings Ltd (in liquidation) | Part of Texon International group | |
Texon International Limited | Part of Texon International group | |
The Food & Drink Group plc (in administration) | Part of The Food & Drink Group | |
USM (Holdings) Ltd | Part of Texon International group | |
Vantis Financial Management Limited (in administration) | Part of Vantis group | |
Vantis plc (in administration) | Part of Vantis group | |
Caffe Uno Brasseries Limited (in administration) | Part of Paramount Restaurants group | |
Charlotte Street Restaurants Limited | Part of Paramount Restaurants group | |
Chez Gerard Restaurants Limited (in administration) | Part of Paramount Restaurants group | |
Craftbutton Limited (in administration) | Part of Paramount Restaurants group | |
Groupe Chez Gerard Limited (in administration) | Part of Paramount Restaurants group | |
Groupe Chez Gerard Restaurants Limited (in administration) | Part of Paramount Restaurants group | |
Leviathan Limited (in liquidation) | Part of Paramount Restaurants group | |
Paramount Acquisitions Limited (in liquidation) | Part of Paramount Restaurants group | |
Paramount Holdings Limited (in administration) | Part of Paramount Restaurants group | |
Paramount Limited (in administration) | Part of Paramount Restaurants group | |
Paramount Restaurants Limited (in administration) | Part of Paramount Restaurants group | |
Smile Restaurants Limited (in liquidation) | Part of Paramount Restaurants group | |
-Ends-
For further information
Allergy Therapeutics | +44 (0) 1903 845 821 |
Ian Postlethwaite Finance Director | |
Manuel Llobet Chief Executive Officer | |
www.allergytherapeutics.com | |
Peel Hunt LLP | +44 (0) 20 7418 8900 |
James Steel / Dr. Vijay Barathan | |
FTI Consulting | +44 (0) 207 831 3113 |
Simon Conway / Victoria Foster Mitchell |