Lpa Regulatory News (LPA)

LPA GROUP PLC

("LPA" or the "Group")

AGM Trading Update, Covid-19, Dividend & Board Changes

At the AGM of the Group to be held at 12:00 noon today, at the offices of LPA Lighting Systems, Peter Pollock, Chairman, will make the following statement:

Trading Update, Covid-19, Dividend

Current trading remains in line with expectations and we have not, as yet, experienced any undue impact from Covid-19.

However, many of our customers and end markets such as aerospace and transport are now, or are expected to be in the future, negatively impacted by Covid-19, either directly or as a result of problems in the supply chain. Therefore, we do expect our business to be impacted to some degree in the second half of the year, and we are planning action to mitigate that impact.

At this stage it is too soon to quantify the extent to which our financial performance may be impaired, however, given the scale of the global financial crisis in response to the potential impact of Covid-19 on economic activity, we feel it is prudent to suspend payment of the final dividend, conserving cash resource as a precaution.

Therefore, the resolution to declare the 2019 final dividend will not be proposed at the AGM to be held on 18 March 2020. (Resolution 2 is withdrawn).

We would expect to restore payment of a dividend as soon as confidence returns to the global economy and the outlook for our business is clear.

Board Changes

Michael Rusch, President, will retire from the board on 19 June 2020 after 55 years of invaluable service to LPA and its forebears. I should like to record LPA's appreciation for all he has done for the Group during those years and to wish him a long and happy retirement.

Gordon Wakeford, formerly Chief Executive Officer of Siemens Mobility Limited UK, will join the board as a non-executive director with effect from 1 April 2020. Gordon holds a First Class Honours Degree in Mechanical Engineering, is a Chartered Engineer and Fellow of the Chartered Institute of Highways and Transportation. He is highly experienced, having worked at very senior levels within Industry and with Government. He is a former Chairman of the Railway Industry Association and Chair of the Rail Supply Group. He was a member of the National College for High Speed Rail Industrial Advisory Board and the CBI Manufacturing Council. On joining the board, he will become a member of both the Audit and Remuneration Committees.

Further disclosures on Gordon Wakeford as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are included in the appendix below.

Paul Curtis, currently Chief Operating Officer, will become Chief Executive with effect from 1 April 2020. Jonathan Rowe has joined the Group as Managing Director of LPA Connection Systems and will join the Group's executive committee.

Appendix - Appointment of Gordon Lawrence Wakeford

Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the following information is disclosed in respect of Gordon Lawrence Wakeford (aged 57):

Gordon Lawrence Wakeford does not hold any shares or options in the Company.

There is no further information regarding Mr Wakeford required to be disclosed under the AIM Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.