SUR.L Regulatory News (SUR)

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Lakehouse plc ("Lakehouse" or the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

1 King George Close

Romford

Essex

RM7 7LS

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

http://www.lakehouse.co.uk/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Lakehouse is an asset and energy support services group that constructs, improves, maintains and provides services to homes, schools, public and commercial buildings with a focus on the UK public sector and regulated markets.

The Company's core service areas are Compliance, Energy Services, Property Services and Construction.

Compliance

Lakehouse provides advice to clients to enable them to meet their legal, safety and regulatory requirements across various aspects of a property including gas, fire electrical, lifts and water and air.

Energy Services

Lakehouse provides services which enable clients to use energy more wisely and reduce energy costs, including wall and loft insulation, heating systems, smart metering and energy brokerage and advisory services amongst others.

Property Services

Lakehouse provides regeneration and refurbishment services, comprising planned, preventative and reactive maintenance services to local authorities and housing associations.

Construction

Lakehouse delivers buildings intended for public use, predominantly schools and colleges in addition to a wide range of other public buildings including community centres, libraries, and fire stations.

Lakehouse's sole country of operation is the United Kingdom.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of shares to be admitted: 157,527,103

Type and nominal value of shares: Ordinary shares of 10 pence each

No shares to be held in treasury

No restrictions as to the transfer of securities

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Anticipated market capitalisation (based on a share price of 46.75p on 31 March 2017) on admission to AIM: c.£74 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

27.03%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A - AIM only

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Robert (Bob) Holt, OBE (Executive Chairman)

Jeremy John Cobbett Simpson (Chief Financial Officer)

Michael McMahon (Chief Operating Officer)

Robert William Lindsay Legget (Senior Independent Director)

Andrew Nigel Harrison (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

i) 30 September

ii) 30 September 2016

iii) 30 June 2017, 31 March 2018, 30 June 2019

EXPECTED ADMISSION DATE:

11 May 2017

NAME AND ADDRESS OF NOMINATED ADVISER:

Stockdale Securities Ltd

Beaufort House

15 St. Botolph Street

London

EC3A 7BB

NAME AND ADDRESS OF BROKER:

Stockdale Securities Ltd

Beaufort House

15 St. Botolph Street

London

EC3A 7BB

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

N/A - quoted applicant

DATE OF NOTIFICATION:

10 April 2017

NEW/ UPDATE:

New

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:

Premium segment of the FCA's Official List / Main Market of the London Stock Exchange.

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

23 March 2015

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH:

The Company has adhered to the legal and regulatory requirements applicable to companies admitted to the Official List (premium segment) and the Main Market of the London Stock Exchange plc.

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:

http://www.lakehouse.co.uk

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

The Company's strategy is oriented around three stages:

· Developing key markets

· Focused divisions

· Working together across business lines

The Company is focused on organic growth, seeking to increase the services sold to existing clients, winning new clients and expanding geographic coverage. It will seek to do so principally on an organic basis and only consider acquisitions where they complement its existing portfolio.

The board of directors are comfortable with and confident in the delivery model for Compliance, Energy Services and Construction. However, the self-delivery model in the Company's closed 'externals' departments within Property Services has resulted in significant losses and the board of directors will pursue a far more rigid risk-based delivery model in the division in the future.

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

As announced on 7 March 2017, the Energy Services Division has had a good start to the current financial year ("FY17"), securing a key £39m smart metering contract with Scottish Power, together with important External Wall Insulation contracts with Fife Council, Rosehill Housing Association, Grampian Housing Association and the London Borough of Camden.

The Compliance Division has had a number of important contract wins in FY17, meeting the strategy to grow organically in both service lines and geographic footprint. These include a £7m commercial gas programme with London & Quadrant over five years, a £2.8m heating and boiler replacement programme with Central Bedfordshire Council, a £2m heating servicing and repairs contract with Derbyshire County Council over two years, a £1m fire equipment service and maintenance contract with Shepherd's Bush Housing Association over three years, a four year legionella framework with Procurement for All potentially worth £650,000 and a £1.6m lift modernisation programme with the London Borough of Hammersmith and Fulham. The Division has also been successful in resecuring a number of existing contracts, which help underpin the prospects for the business.

Within the Construction Division, the Chadwell Heath Campus at Redbridge College, a Lakehouse design and build project, won the Light and Exterior Surface award at the recent Surface Design Awards, demonstrating the quality and innovation Lakehouse brings to such works. The division has also secured a number of important new wins in FY17, including a £6.1m contract with Uxendon Manor Primary School (London Borough of Brent), a £4.2m contract for Haslam House & Chichester Court (London Borough of Harrow) and a £2.7m contract for Harris Academy (London Borough of Merton). The division continues to experience delays on new contracts related to two stage procurement, albeit 14 of the 17 contracts discussed in the FY16 annual report have now mobilised.

The turnaround of the Property Services Division continues, with the new management team in place implementing the strategy.

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

The Directors of Lakehouse plc have no reason to believe that the working capital available to it and its Group will be insufficient for at least twelve months from the date of its admission.

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

N/A - none

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:

Settlement will be through the CREST system for uncertificated shares. Shareholders can also deal based on share certificates.

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:

www.lakehouse.co.uk

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:

Please see the Group Circular and the Appendix to this Schedule 1 announcement which are available at www.lakehouse.co.uk

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19:

http://www.lakehouse.co.uk/investors/results-and-presentations

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

None