Hargreaves Services PLC AGM Trading Update and Directorate Changes (4856S)

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RNS Number : 4856S

Hargreaves Services PLC

03 October 2017

Hargreaves Services plc

("Hargreaves" or the "Group")

AGM Trading Update and Directorate Changes

Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services in the infrastructure, energy and property sectors, provides a trading update ahead of its Annual General Meeting today.

The Board is pleased to announce that trading, both at Group level and in its Services and Distribution division, is in line with expectations.

In its Property Division, the development of Blindwells, a major housing development in East Lothian, is progressing well and in line with expectations. We are also pleased to note that sale processes are advancing for a number of other material properties and although timing of such sales remains hard to forecast, the Board is encouraged with progress and activity levels.

The Board is also pleased to announce that John Samuel has been recruited to succeed Iain Cockburn as Group Finance Director when Iain moves to join Brockwell Energy in a full-time capacity. John will join the Board on 2 January 2018 and Iain will continue in his current dual role until that time.

As the Group continues to pursue its strategy to simplify and streamline, agreement has been reached that Kevin Dougan will step down from the Board and leave the Group with effect from 1 December 2017. Kevin has fulfilled the role of Group Commercial Director and this position will not be replaced.

David Morgan, the Chairman of Hargreaves, commented: "We are delighted to have hired a candidate of John's calibre. Over the past eleven years John has worked successfully to grow and develop Renew Holdings plc. We look forward with excitement to the contribution that John will make to providing financial leadership at Hargreaves and in helping to develop and deliver the Group's strategy. On behalf of the Board, I would also like to thank Kevin for his years of commitment and loyal service. Kevin has been instrumental in helping direct and shape the Group since its inception."

Gordon Banham, Chief Executive Officer of Hargreaves, commented: "I am pleased to welcome John to the Board and look forward to working with him. I would also like to acknowledge and thank Kevin on a corporate and personal level for his contribution to the development of the Group. I have worked with Kevin for over fifteen years and his loyalty and drive have been unwavering."

Additional regulatory disclosures required in relation to John Samuel's appointment are set out at the end of this announcement.

For further details:

 
 Hargreaves Services 
  Gordon Banham, Chief Executive 
  Officer 
  Iain Cockburn, Finance 
  Director                          0191 373 4485 
 Buchanan 
  Mark Court / Sophie Cowles        020 7466 5000 
 N+1 Singer (Nomad and 
  Joint Corporate Broker) 
  Sandy Fraser / Nick Owen          020 7496 3000 
 Investec (Joint Corporate 
  Broker) 
  Sara Hale / Rob Baker             020 7597 4000 
 

Further information:

John William Young Strachan Samuel, 61, holds / has held the following directorships:

 
                               Directorships held in 
 Current Directorships          the past five years 
 00118632 LIMITED              ALLENBUILD (SOUTH EAST) 
                                LTD 
 AMCO GROUP TRUSTEES LIMITED   ALLENBUILD LIMITED 
 ILKLEY TOY MUSEUM LIMITED     ARCHITECTURAL FABRICATION 
                                SYSTEMS LIMITED 
 RENEW CORPORATE DIRECTOR      ARLE COURT DEVELOPMENTS 
  LIMITED                       LIMITED 
 RENEW HOLDINGS PLC            B B PLANT LIMITED 
 RENEW NOMINEES LIMITED        B. B. PROPERTIES LTD 
 RENEW PENSION TRUSTEE         B.B. STONE LIMITED 
  COMPANY LIMITED 
 YORKSHIRE AIR AMBULANCE       BB (WALSALL) LIMITED 
  (TRADING) LIMITED 
 YORKSHIRE AIR AMBULANCE       BB KONSTRUCTION LIMITED 
  LIMITED 
 YORKSHIRE AIR AMBULANCE       BB WYKE LIMITED 
  SERVICES LTD 
                               BG AGGREGATES LIMITED 
                               BRITANNIA CONSTRUCTION 
                                LIMITED 
                               BRITANNIA GROUP LIMITED 
                               BRITANNIA HOMES (CHELTENHAM) 
                                LIMITED 
                               BRITANNIA HOMES (WESTERN) 
                                LIMITED 
                               BRITISH BUILDING & ENGINEERING 
                                SERVICES LTD 
                               CHERRYDOWN CONSTRUCTION 
                                LIMITED 
                               CLIFTON HOMES (COTSWOLDS) 
                                LIMITED 
                               CLIFTON HOMES (SOUTHERN) 
                                LIMITED 
                               CLIFTON RETIREMENT HOMES 
                                LIMITED 
                               CONTRACTORS' SCAFFOLDING 
                                AND FORMWORK LIMITED 
                               CORNERBITE LIMITED 
                               DAVID ESHELBY LIMITED 
                               DETOUR LIMITED 
                               EX AB (NORTH WEST) LIMITED 
                               EX AB (WEST MIDLANDS) 
                                LIMITED 
                               EX BRIT JOIN LIMITED 
                               EXBIRCO 1 LIMITED 
                               EXBIRCO 2 LIMITED 
                               EXBIRCO 3 LIMITED 
                               EXHATCH LIMITED 
                               EXSIMPIL LIMITED 
                               GEODUR UK LIMITED 
                               HADLEY GRANGE (RESIDENTS) 
                                MANAGEMENT LIMITED 
                               INHOCO 3520 LIMITED 
                               KASS BUILD LIMITED 
                               KASS HOLDINGS LIMITED 
                               PASUDA SERVICES LIMITED 
                               PROMENADE INVESTMENTS 
                                (WHITTINGTON) LIMITED 
                               PROMENADE INVESTMENTS 
                                LIMITED 
                               RENEW CIVIL ENGINEERING 
                                LIMITED 
                               RENEW CONSTRUCTION LIMITED 
                               RENEW GROUP LIMITED 
                               RENEW LIMITED 
                               RENEW PROPERTY DEVELOPMENTS 
                                LIMITED 
                               RENEW SPECIALIST SERVICES 
                                LIMITED 
                               T.W. WARD (INDUSTRIAL 
                                DISMANTLING) LIMITED 
                               TIDENTIME LIMITED 
                               TRIPLE R ENVIRONMENTAL 
                                LIMITED 
                               VHE (CIVIL ENGINEERING) 
                                LIMITED 
                               VHE EQUIPMENT SERVICES 
                                LIMITED 
                               VHE HOLDINGS LIMITED 
                               VHE LAND PROJECTS LIMITED 
                               VHE TECHNOLOGY LIMITED 
                               WEST CUMBERLAND INSULATION 
                                (1997) LIMITED 
                               YJL (OVERSEAS) LIMITED 
                               YJL BUILDING LIMITED 
                               YJL CONSTRUCTION LIMITED 
                               YJL DEVELOPMENTS LIMITED 
                               YJL HOMES LIMITED 
                               YJL INFRASTRUCTURE LIMITED 
                               YJL LIMITED 
                               YJL LONDON LIMITED 
                               YJL PARTNERSHIPS INVESTMENTS 
                                LIMITED 
                               YJL SPECIALIST TREATMENTS 
                                LIMITED 
 

Other than as set out above, there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules for Companies in respect of Mr Samuel's appointment.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 03, 2017 02:00 ET (06:00 GMT)