MPH.L Regulatory News (MPH)

29 Mar 2006 07:01

Marchpole Holdings PLC29 March 2006 Marchpole Holdings plc Directorate Changes and Trading Update The Board of Marchpole Holdings plc ("Marchpole" or "the Group"), the fastgrowing fashion brand management group, announces that following the recentcompletion of its acquisition of Moda America LLC, it has made the followingstrategic changes to reflect its new multi brand international structure. Allchanges take place with immediate effect. - Michael Morris, currently Executive Director and founder of Marchpole with more than 30 years' experience within the fashion clothing industry, is appointed Executive Deputy Chairman and will assume overall senior executive responsibilities - John Harrison, director and full-time Acting Finance Director since October 2005, is appointed executive Group Finance Director on a permanent basis - Chief executive Greg Tufnell has resigned to pursue other business interests - Deloitte is appointed as Group worldwide auditors - Bell Pottinger Corporate & Financial is appointed as global Group Financial PR adviser - Trading continues in line with market expectations and the Board views the outlook for the Group with confidence Non-Executive Chairman Christopher Phillips commented that the changes announcedtoday reflect the fundamental strategic developments that have taken placewithin the Group over the last two years. Now with significant operations in theUK, mainland Europe, Asia and the USA for a wide range of fashion brands,Marchpole has evolved from being a single brand, single country business to adiversified multi-brand international business with strong growth potential. Mr Phillips, Non-Executive Chairman, said: "I am pleased to state that tradingis in line with market expectations and the Board looks forward to acceleratinggrowth across all of our operations. "The acquisition of Moda America - with a turnover of US$20 million in the yearto end-2005 - is a highly significant development as it offers a uniqueopportunity for Marchpole to exploit its proven brand management skills toexpand the business into the world's largest market, the USA. "I am confident that the restructuring of the Board and management provides fora robust structure which will serve the Group well for the next stage of itsdevelopment." - ends - For further information David Rydell/Emma Kent/Alexandra Walton Bell Pottinger Corporate & Financial 0207 861 3232 Notes to Editors - Marchpole Holdings plc ("Marchpole") is an international brand management group that designs, produces and sells clothing and accessories for six world class fashion labels. It operates in all of the world's main markets - UK, mainland Europe, Asia and the USA - Its respected brands include YSL, Boateng, Emanuel Ungaro, Ungaro, Jean-Charles de Castelbajac ("JCC") and Jean-Charles de Castelbajac/Rossignol - Incorporated in 1973, Marchpole listed on the London Stock Exchange in 1997 and has the ticker symbol MPH - Marchpole is renowned for its integrated approach to brand management, taking a brand from concept to design studio to the customer interface. It is not a clothing manufacturer - The Group has grown considerably in the past 3 years, from a licensee with one core licence (YSL menswear) - to today's international business that manages its brands across a multitude of clothing lines and accessories - Marchpole's most recent acquisition (effective January 2006) of Moda America LLC - the US licensee for leading designer Emanuel Ungaro - brings further growth opportunities in the UK and America and strengthens the Group's relationship with Emanuel Ungaro - The Moda acquisition also allows the Group to launch Emanuel Ungaro, already established by Marchpole in Europe and Asia, into the US, Canada and South America. In addition, the acquisition allows the Group to re-launch JCC into America with effect from Autumn/Winter 2006 - Marchpole will launch the diffusion Ungaro homme collection in the UK from Spring/Summer 2007 This information is provided by RNS The company news service from the London Stock Exchange