Mears Share Discussion Threads

[gjd] 31/1/2007 17:12

From Citywire yesterday

"But broker Numis today suggested the pair may have disagreed on 'management style, focus and direction'. The broker said Black and Holt are 'perceived as chalk and cheese in their management style'.

Black's resignation comes as Mears is widely expected to embark on ambitious corporate activity buoyed by a strong share price."

[fellowes2] 31/1/2007 15:24

Bob Holt had effectively retired from an executive position in the company - and had recently sold his entire holding. He has been drafted back at very short notice. If all is well at the next trading update then fine, but I would wait for confirmation of this first.

[chakhan] 31/1/2007 15:12

Some big investers may be taking up the opportunity given to them to manipulate the share price and pick up some big chunks at cheap prices.

[fellowes2] 31/1/2007 14:59

A CEO resigning unexpectedly is never good news, I would be very careful here.
Anyone thinking of investing would be very wise to wait untill the next trading update. The fact that there is no explanation given for the resignation is even more concerning IMO.

[mower] 31/1/2007 14:12

Sunburst
Please can you tell me the source of your info. I cant find any referance to him going to Harvard. Thanks in anticipation.....Mower

[ben gunn] 30/1/2007 11:12

It is Bob Holt's company so I am less worried than with the other way arround.
Sound companies dont have senior resignations w.i.e. so nervous!

[fellowes2] 30/1/2007 09:51

Not sure about that, why would he need to resign, the Company could just give him leave as usually happens. I would be very careful IMO.

[fellowes2] 30/1/2007 09:48

No reason given for the resignation, bad news on the way I wonder??

[sunburst] 30/1/2007 09:48

Stuart Black has resigned (w.i.e.) and Bob Holt is to be chief executive. Mr Black said he is leaving to take up a management course at Harvard.
Surely the price-slump is an over-reaction?

[tinker] 30/1/2007 09:14

No but it's never good news.

RNS Number:3349Q
Mears Group PLC
30 January 2007


30 January 2007

MEARS GROUP PLC ("Mears" or the "Company")

Board Changes

Mears announces that Stuart Black has resigned his position as Chief Executive
Officer of the Company and relinquished his executive functions with effect from
today. The Board has accepted his resignation as Chief Executive Officer and
conveys its thanks to him for his contribution and offers Stuart its best wishes
for the future.

Bob Holt, Executive Chairman, will assume the role of CEO and David Miles (aged
40) has today been appointed a Director of the Company and Managing Director of
Mears Social Housing. David has been with Mears since May 1996 and is currently
Managing Director of Mears' Southern Social Housing Division.

Bob Holt will be reducing his outside commitments to allow him to devote
substantially all of his time to the development of the Company.

Commenting on these changes Chairman, Bob Holt said:-

"In welcoming David Miles to the Board I have every confidence that his
continued contribution will be invaluable to the Group. Having managed our
largest division for a number of years I have no doubt that by extending his
role we will bring added depth and insight at Board level to improve further our
excellent operational delivery and reputation."

Mr Miles holds 100,000 ordinary shares of 1p each in the Company ("Shares"),
representing approximately 0.16 per cent. of the Company's issued ordinary share
capital. In addition, Mr Miles holds options over 90,000 Shares.

Mr Miles is a director of Mears Limited, Mears Building Contractors Limited and
Evolve Housing Limited. Mr Miles has confirmed that there is no further
information required to be disclosed under Schedule 2(g) of the AIM Rules.

For further information, please contact:

Bob Holt
[e-mail]
07778 798 816

ENDS

[foxman14] 30/1/2007 09:08

After the upbeat trading statement earlier this month I have been looking to get into these. Anybody have a view as to the reason for the sudden departure?

[winsome3] 22/1/2007 14:37

My question is how long can this go on? Its well run and a good ceo and the business is good? But Has it topped out? I can see its in some of the long stock picking portfolios but where next? a bit like topps tiles. Where next?

[techie4] 22/12/2006 12:02

Good going nice chart Ho Ho Happy Xmas. Perhaps they are maintaining Xmas trees now

[ben gunn] 12/12/2006 16:39

Cripes. Tighter stop loss set!

[hosede] 04/12/2006 11:33

Moving into new and higher ground - extraordinary lack of interest in this Co, on AFN now - I guess it's low volatility makes it of no interest to traders - it just keeps on climbing. I've been in since 29p - if only I'd put all my money into it then - I'd be swanning around the Med in my yacht now!

[cambium] 09/11/2006 16:37

Pom fritte sells a few bob today

50,000 @ 316.36p £158,180

[dr darkstar] 06/11/2006 15:10

rising again today

[mistertibbs] 03/11/2006 19:28

I've looked in my usual suspect places and find no contract news either. Look forward to your info cambium as the recent erection on the chart looking good.

[cambium] 03/11/2006 14:56

contract news out

[twofishes] 03/11/2006 14:54

any reason for the increase today - not that I am complaining!!

[chester] 06/10/2006 11:40

Continuing...