11th Jun 2008 16:12
Impact Holdings (UK) plc ("Impact", "the Group" or "the Company") Board Appointment/Management Changes/Change of Auditors/Change of Registered Office
Impact Holdings (UK) plc (AIM: IHUK), the specialist lending business, is pleased to announce the following changes:
Board Appointment:
David Hughes has been appointed to the Board of the Company as Non-Executive Director with effect from 1st July 2008.
David (aged 48), is a Solicitor and Member of the Law Society and has, during his successful career to date, held a number of senior positions, the most recent of which was as a Partner of Yaffe Jackson Ostrin, Solicitors where he was responsible primarily for dealing with major commercial clients of the practice on property related matters. David also has considerable property interests in both the UK and Europe and will also act in an advisory capacity on all legal and property related matters for the Group.
Management Changes:
Chris Williams resigned as Finance Director on 11th June and leaves the Company with immediate effect. Chris, who was part-time, is leaving the business as planned to concentrate on his other business interests.
Stuart Burn has joined the business as Head of Finance and it is anticipated that he will be appointed to the Board in due course. Stuart (aged 50) was previously Practice Director of Cooper Kenyon Burrows Solicitors and has held senior positions in a number of large Law firms both in the North East and North West of England. Stuart has considerable knowledge of managing solicitor practices and this detailed knowledge will be an asset in managing the solicitor disbursement funding division.
Commenting on the appointment and Management changes, Paul Davies, Chief Executive Officer said:
"I am delighted to welcome both David and Stuart to the Company. The relative appointments will strengthen both the Board and the controls within the Group as we continue to rebuild the business following its difficult initial phase post flotation. Collectively they bring with them a wealth of experience in managing both legal practices and property related matters and will be an asset to the Board of Impact as we continue to grow the disbursement funding and property related divisions of the business".
Change of Auditors:
Impact is also pleased to announce the appointment of CLB Coopers as auditors to the Group. It is anticipated that the results for the financial year ended 31st March 2008 will be available in early September.
Change of Registered Office:
The Company announces that, with immediate effect, it has changed its registered office address to:
Manchester International Office Centre
Styal RoadManchesterM22 5WBAdditional disclosures:
The following information in respect of David's appointment is disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules:
Current appointments:Adelphi Castle LimitedRedknight LimitedPrevious appointments:Lex Interiors Limited
Save for the above, there is no other notifiable information.
For further information:
Impact Holdings (UK) plc
Paul Davies, Chief Executive Officer Tel: 0161 437 9499
Daniel Stewart & Company plc
Simon Leathers/Tessa Smith Tel: 020 7776 6550
Notes to Editor:
Impact Holdings (UK) plc through its individual subsidiaries provides short term funding solutions, loans administration and IT support services in two specific sectors:
1. The legal disbursements market;
2. Property based bridging and development market.
In addition Impact will fund other opportunities where debt instruments or debentures provide the primary security and there are opportunities for short term bespoke funding where serviceability precludes larger lenders from entering this area.
Impact is regulated by The Office of Fair Trading through which it is licensed to lend under the Consumer Credit Act 1974 and the Financial Services Authority for regulated lending.
vendorRelated Shares:
IHUK.L