Cambria Automobiles Plc Board Appointments (1712W)

TIDMCAMB

RNS Number : 1712W

Cambria Automobiles Plc

07 February 2017

07 February 2017

Cambria Automobiles plc

("Cambria" or the "Group")

AIM: CAMB

Board Appointments

Cambria, the franchised motor retailer, is pleased to announce the appointments of Paul McGill and William Charnley to the Board as Non-Executive Directors with immediate effect.

Paul has a detailed and extensive level of knowledge of the motor retail industry, acquired from over 30 years in the business. He was most recently Head of Projects at Lloyds Banking Group, where he was responsible for promoting the Black Horse Consumer Finance brand across the Group, leading new business initiatives and recruiting key individuals to the business. He also served as Head of Motor Finance (South) at Black Horse, a position he held from 2009 until April 2016. Prior to these roles, Paul was Head of Distribution at Bank of Scotland Dealer Finance for 18 years where he was responsible for an external sales force of approximately 150 home based sales and sales managers.

William is currently a Partner at King & Spalding International in the Corporate practice, a position he has held for over four years. William has over 20 years' experience in public and private mergers and acquisitions, disposals, flotations, private equity transactions and general corporate and securities advice. William has a high level of knowledge of both the motor retail sector and Cambria as he advised Cambria on the Group's IPO on AIM in 2010. He also served as a Non-Executive Director at CD Bramall plc for four years prior to it being acquired in 2004, before joining the Board of Lookers plc as an alternate Non-Executive Director from 2006 to 2008. William is a Fellow of the Institute of Chartered Secretaries and Administrators and of Hughes Hall, University of Cambridge.

Philip Swatman, Chairman of Cambria Automobiles plc, commented:

"I am delighted to welcome Paul and William to Cambria. Both bring to the Group a vast amount of experience, knowledge and expertise of the motor retail industry which will complement the extremely strong management team we already have in place. I am sure they will prove to be a valuable asset as the Board focuses on enhancing the core operations of the Group's existing businesses whilst delivering the integration and optimisation of the more recently acquired businesses."

-Ends-

Enquiries:

 
 Cambria Automobiles                  Tel: [phone] 
  Mark Lavery, Chief Executive                   851 
  James Mullins, Finance 
  Director 
  www.cambriaautomobilesplc.com 
 N+1 Singer - NOMAD & Joint       Tel: [phone] 
  Broker 
  Alex Price / Sandy Ritchie 
 Zeus Capital - Joint Broker      Tel: [phone] 
  Dominic King 
 FTI Consulting                   Tel: [phone] 
  Jonathon Brill / Alex 
  Beagley / James Styles 
 

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules, William Francis Charnley, age 56 years, holds or has held during the past five years the following directorships and partnerships:

 
 Current directorships             Past directorships 
 King and Spalding International   Mayer Brown International 
  LLP                               LLP 
 KKS Strategy LLP 
 The Invicta Film Partneship 
  No.43 LLP 
 Bank and clients Plc 
 The Muscovy Company Limited 
  Zeus films LLP 
 Throgmorton Assets Plc 
 Gemini emissions Reduction 
  LLP 
 

Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules in respect of William Charnley.

In accordance with Schedule 2(g) of the AIM Rules, Paul Gerard Christopher McGill, age 60 years, holds or has held during the past five years the following directorships and partnerships:

 
   Current directorships   Past directorships 
   PMcGill Services Ltd    Capital Bank Leasing 1 
                            Limited 
                           Capital Bank Leasing 2 
                            Limited 
                           Capital Bank Leasing 4 
                            Limited 
                           Capital Bank Leasing 5 
                            Limited 
                           Inchcape Financial Services 
                            Limited 
 
 

Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules in respect of Paul McGill.

About Cambria - www.cambriaautomobilesplc.com

Cambria Automobiles ("Cambria") was established in March 2006 with the aim of creating a balanced independent UK motor retail group through a self-funded "buy and build" strategy, focused on turnaround opportunities.

Working in close cooperation with its manufacturer partners, the Group has built a balanced portfolio of 31 luxury, premium and volume dealerships, representing 45 franchises and 16 brands, with geographical representation spanning from the North West to the South East in Kent. These businesses are autonomous and trade under local brand names, including Dees, Doves, Grange, Invicta, Motorparks and Pure Triumph.

Cambria's brand portfolio currently comprises Abarth, Alfa Romeo, Aston Martin, Dacia, Ford, Fiat, Honda, Jaguar, Jeep, Land Rover, Mazda, Nissan, Renault, Triumph, Vauxhall and Volvo.

The management's success in turning around under-performing dealerships has allowed Cambria to build a strong balance sheet. As a result, the Group is in a position to acquire valuable premium operations, like the recently acquired Jaguar Land Rover dealership in Woodford, Land Rover dealership in Welwyn Garden City, Jaguar Land Rover business in Barnet and Land Rover business in Swindon, which are immediately earnings enhancing and directly in line with the Group's strategy to further enhance the brand portfolio.

The Group's medium term ambition is to create a GBP1 billion turnover business producing attractive returns on capital.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAGMGGZMVDGNZZ

(END) Dow Jones Newswires

February 07, 2017 02:00 ET (07:00 GMT)