21 Jun 2017 12:06
Hornby plc
("Hornby" or the "Group")
21 June 2017
Chairman Resignation
Hornby Plc, the international hobby products group, announces that Roger Canham, Executive Chairman, has resigned from the Board with immediate effect.
This follows the announcement today by Phoenix UK Fund Limited that it has acquired 17,641,161 Hornby shares and consequently the Phoenix Concert Party owns 55.217% of Hornby's issued equity. As a result, under Rule 9 of The Takeover Code, Phoenix UK Fund is required to make a mandatory cash offer for the Group. Roger Canham is a director of Phoenix Asset Management Partners which forms part of the Phoenix Concert Party.
For further information, contact:
Hornby Plc | 01843 233500 |
Steve Cooke, Chief Executive | |
David Mulligan, Group Finance Director | |
www.hornby.com | |
Numis Securities Limited | 020 7260 1000 |
Oliver Cardigan (Nomad) Paul Gillam | |
Tom Ballard | |
Capital Access Group | 020 3763 3400 |
Scott Fulton |
Hornby (HRN)