12 Aug 2014 07:00
John Lewis of Hungerford plc
Proposed change of name
John Lewis of Hungerford plc ('the Company') announces that it is proposing to change its corporate name.
The launch of the Company's Artisan Installation business in 2009 has been an important driver of growth in recent years. In addition to creating an important revenue stream it enables more effective management of the installation process thereby further enhancing the customer experience.
As part of its strategic planning exercise the Board has identified an opportunity to significantly develop this activity through offering an outsourced installation service in partnership with third party retailers, service providers and the consumer directly. Based on discussions with such partners the Board perceive an opportunity to grow this activity significantly without damaging the core John Lewis of Hungerford retail offering.
Currently the manufacture, retail and installation activities of the Company are undertaken within a single company structure. The Board recognise that the John Lewis of Hungerford brand is synonymous with its manufacture and retail operations and therefore to assist in the effective external marketing of both businesses it intends to undertake these through newly incorporated and wholly owned subsidiaries to be called John Lewis of Hungerford Limited and Artisan Installation Company Limited respectively. In order to facilitate this it is proposed that the name John Lewis of Hungerford plc is changed to Grove (Oxfordshire) plc, reflecting the location of the Company's head office.
The change in name is subject to approval by shareholders. A notice convening a General Meeting of the Company's shareholders for 4pm on Wednesday 3rd September 2014 has today been sent to shareholders and will be available on the Company's website www.john-lewis.co.uk.
Enquiries:
John Lewis of Hungerford plc Malcolm Hepworth Chairman | 01235 774300 |
Smith & Williamson Corporate Finance Limited Martyn Fraser | 0117 376 2213 |