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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Avid Holdings | LSE:AVD | London | Ordinary Share | GB00B06GHM23 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.095 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
AVID HOLDINGS PLC ("the precision engineering group") (`Avid Holdings', `the Group' or `the Company') FORMER CHAIRMAN AND CEO OF JAGUAR LAND ROVER APPOINTED TO THE BOARD Avid Holdings, the precision engineering group, which is planning to expand through organic growth in its operating companies and carefully targeted acquisitions, is pleased to announce the appointment of Bob Dover, the former Chairman and Chief Executive of Jaguar Land Rover, as a Non-Executive Director with immediate effect. Bob Dover, age 63, is currently Visiting Professor of Engineering at Coventry University and Professor of Industrial Manufacturing at Warwick University. He is also Chairman of the Advisory Board of the Cambridge University Innovative Manufacturing Research Centre and the British Motor Industry Heritage Trust. He is a Director of the Jaguar Daimler Heritage Trust, SinterCast AB and Zeroshift Ltd. Following his early career working for the Royal Aircraft Establishment, Farnborough, Press Steel Fisher, British Leyland UK and Massey Ferguson, he joined Land Rover as the Director of Manufacturing in 1984 and was appointed to a similar position at Jaguar Cars in 1987. In 1994 he became Chief Programme Engineer for the Jaguar XK8 and in 1997 he moved to Aston Martin Lagonda as Chairman and Chief Executive joining Land Rover in 2000 and Jaguar Land Rover in 2002. Jonathan Bobbett, the Group Chief Executive, of Avid commented: "Bob Dover has an outstanding record as one of the UK's leading engineers and I am delighted that he is joining the Board of Avid at this time. His knowledge and skills will be invaluable as we seek to expand the Group through further acquisitions and increase the sales and the range of products manufactured within the existing Group companies." Robert Alan Dover FREng FlMechE FRSA FLED is a director, and has been a director in the last five years, of the following companies: Current Directorships: Jaguar Daimler Heritage Trust British Motor Industry Heritage Trust Zeroshift Limited Traction Technology (UK) Limited* Traction Technology Holdings Limited Traction Technology plc 50 Hans Place Freehold Limited SinterCast AB Inter City Group Limited Salgglas Zrt Previous Directorships within the last 5 years: Eneco Limited* Land Rover Exports Limited Land Rover Group Limited Land Rover Jaguar Cars Exports Limited Ford LRH Red Bull Racing Limited Ford JL Limited Jaguar Cars Limited *Eneco Limited went into Administration in April 2006 and subsequently into creditors' voluntary liquidation in April 2007. The assets of Eneco Limited were purchased by Bob Dover and one other party and were used to form Traction Technology (UK) Limited in May 2006. As there were limited cash resources available, the board of Traction Technology Plc announced on 3 July 2008 that it had ceased to provide funding to its operating subsidiary, Traction Technology (UK) Limited and decided to commence proceedings for its creditors' voluntary liquidation. There are no further disclosures to be made under Schedule Two, paragraph (g) of the AIM Rules for Companies. For further information contact: Jonathan Bobbett, Chief Executive Avid Holdings Plc Tel: +44 (0)1622 872 022 http://www.avidholdings.co.uk Nominated Adviser Zeus Capital Limited Ross Andrews Ben Thompson Tel: +44 (0) 161 831 1512 Stephen Goschalk, Stockbroker Newland Stockbrokers Limited Tel: +44 (0) 20 7290 2400 Brian Coleman-Smith / James Verstringhe, Financial Public Relations Cubitt Consulting Limited Tel: +44 (0) 20 7367 5100 Background note Avid focuses on acquiring stable and profitable businesses within the precision engineering sector. As the target sector is highly fragmented the Company strongly believes that value can be added through consolidation. The Group came into being through the acquisition of 3 Point Blue, which was founded by Jonathan Bobbett, the Group's Chief Executive, and was reversed into Euro Investment Fund plc in June 2006 and changed its name to Avid Holdings plc on being Admitted to trading on AIM in June 2006. Since then the Company has made two further acquisitions. Pill Protect 3 Point Blue then became the first operating company in the emerging Group changing its name to Pill Protect which provides pharmaceutical companies with child resistant and senior friendly packaging solutions for their blister packed drugs. Electro-Mec Electro-Mec, founded in 1969, is a precision engineering business producing high quality blister pack change tooling for the pharmaceutical industry (from which it generates the majority of its revenues) as well as offering some machining and assembly for the defence industry. It was acquired in February 2007 for a total consideration of £1.55 million of which £759,000 is dependent on future profits. Alpha Anodising Alpha was established in 1972 and is a high quality metal finishing business based in Buckinghamshire. It has developed a highly diversified customer base due to its specialised expertise and reputation. Its offerings include a wide range of production techniques such as mechanical and chemical finishes, high quality surface and sub-surface printing, as well as professional design and prototyping services. The company supplies the medical, scientific, defence and audio industries. It was acquired for £799,813 of which £120,000 was deferred. END
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