Last checked at 3 Feb 2016 07:00
3 February 2016
REACT Group PLC
("REACT" or the "Company)
Board Changes
REACT Group PLC, the specialist provider of rapid response deep cleaning and emergency decontamination services, is pleased to announce the appointment of Simon Woolley to the Board of the Company with immediate effect as a non-executive director.
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. More recently, Simon has been providing corporate finance and strategic advice to entrepreneurial businesses.
In addition, non-executive director Stephen Foster has stepped down from the Board with immediate effect. The Company thanks Stephen for his support of the Company and would like to wish him success in the future.
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 49 years old.
Mr Woolley currently holds the following directorships/partnerships:
RSW Law Limited
Bamboo Law Limited
EOS Law LLP
Future Perfect Partners LLP
RSW Advisory Services LLP
RSW Corporate Member Limited
The Invicta Film Partnership No.20, LLP
Hermes Advisory Services Limited
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 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.
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.
There is no further information required to be disclosed under Schedule 2, Paragraph (g) of the AIM Rules for Companies, pursuant to Mr Woolley's appointment.
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