Corporate News

Half Year Announcement 2016

Click on the following link to view our Half-year report for the six months ended 30 June 2016: Half Year Announcement 2016

Director Dealings and Holdings in Company - 25 May 2016

The Board announces that on 25 May 2016 the following transactions were undertaken by Phil Moorhouse, Chairman and David Cowen, Group Finance Director in the Company’s Ordinary Shares of 25 pence each (“Ordinary Shares”):

 

  • Mr Moorhouse bought 20,000 Ordinary Shares, which is his first holding in the Company’s Ordinary Shares, and represents 0.1% of the Company’s issued share capital.

 

  • Mr Cowen exercised in full a conditional grant over Ordinary Shares awarded on 27 February 2013 under the Molins PLC Deferred Share Plan.  Upon exercise, the Molins PLC Employee Trust transferred 46,600 Ordinary Shares to Mr Cowen, 23,300 of which were then sold in the open market.  Mr Cowen’s beneficial interest following this transaction has increased to 123,519 Ordinary Shares, representing 0.6% of the Company’s issued share capital. 

 

All transactions were completed at a price of 59.5 pence per Ordinary Share.  

For further information, please contact:

 

Molins PLC Tel: +44(0)1908 246870
David Cowen, Group Finance Director  
Sara Cannon, Company Secretary  
   
Panmure Gordon (UK) Limited (NOMAD) Tel: +44(0)20 7886 2500

Andrew Potts/ Peter Steel – Corporate Finance

 
Tom Salvesen – Corporate Broking  
   
KTZ Communications Tel: +44(0)20 3178 6378
Katie Tzouliadis, Viktoria Langley, Emma Pearson  

Board Changes - 11 May 2016

The Board of Molins is pleased to announce the forthcoming appointment of Antony (Tony) Steels as Chief Executive and a director.  The appointment takes effect from 6 June 2016, with Dick Hunter stepping down from the Board on that date to pursue new interests after eight years as Chief Executive.  Dick’s employment notice period of six months commences from today’s date and he will work with Tony for a period to facilitate an orderly transition. 

 

In addition, the Board is pleased to announce the appointment of Andrew Kitchingman as a non-executive director with immediate effect.  These changes follow a review of Board composition and structure.

 

Tony Steels has extensive experience in engineering, both in the UK and internationally, and a proven track record in business development.  He joins Molins from Cytec, part of Solvay SA, the chemicals and advanced materials company listed on the Brussels and Paris stock exchanges.  At Cytec, Tony was Global Business Director of its Process Materials Division, which he led for six years.  During this time he was responsible for the Division’s operations in USA, UK, France and Italy and initiated its expansion into China.  He was Head of Asia for four years from 2006 at GF AgieCharmilles, the precision machinery supplier and part of Georg Fischer AG.  Based in both the UK and China, he doubled production unit output and grew sales across the Asia region.  From 2000 he was Managing Director of AgieCharmilles UK Ltd, where he led the successful turnaround of the business, driving a restructuring and growth programme.  A large part of his earlier career was at GEC Alsthom, the heavy engineering business.

 

Andrew Kitchingman is a Fellow of the Institute of Chartered Accountants in England and Wales and enjoyed a long career in corporate finance working for both consultancy firms and stockbrokers, including KPMG, Hill Samuel, Albert E Sharp, Brewin Dolphin and WH Ireland, across a wide range of business sectors, both public and private.  Andrew will serve on Molins’ Remuneration, Nomination and Audit Committees and will chair the Audit Committee.

 

Phil Moorhouse, Chairman, said:

 

“I am delighted to announce the appointment of Tony Steels as Chief Executive.  He has extensive experience in engineering and management in both international and UK businesses and a proven track record of value creation.  We look forward to working with him as we seek to develop the Group.  I am also pleased to welcome Andrew Kitchingman to the Board as a non-executive director. His appointment strengthens the non-executive team. 

The Board would also like to place on record its appreciation of the considerable contribution Dick has made to the Group, both as Chief Executive since 2008 and prior to that as a divisional managing director.  We wish him well in his future ventures.” 

 

For further information, please contact:

Molins PLC
Phil Moorhouse, Chairman
Dick Hunter, Chief Executive
David Cowen, Group Finance Director

Tel: +44 (0) 1908 246870

 

Panmure Gordon (UK) Limited (NOMAD) 
Andrew Potts, Peter Steel – Corporate Finance
Tom Salvesen – Corporate Broking
Tel: +44 (0) 20 7886 2500

 

KTZ Communications
Katie Tzouliadis, Viktoria Langley, Emma Pearson 

Tel: +44 (0) 20 3178 6378

 

 

Additional Information: disclosures required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies (“AIM Rules”)

 

Tony Steels, aged 51 years, was previously a director of the following companies within the last five years:

 

Umeco Composites Limited

Cytec Process Materials (Keighley) Limited

Fluorovac Limited

Vacform Design Limited

Cytec-Med-Lab Limited

Med-Lab International Limited

Med-Lab O.M. Limited

Cytec Process Materials (CA) Inc

Shanghai Umeco Composites Limited

Cytec Process Materials Mondovi S.r.l

Cytec Process Materials Milan S.r.l

 

Andrew James Kitchingman, aged 51 years, is currently a director of the following companies:

 

The Cathedral Choir School Ripon Limited

Incommunities Group Limited

 

Save as set out in this announcement, there are no further matters to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies in respect of either of the two appointments.

AGM Statement – 22 April 2016

Molins, the international engineering and services company, will hold its Annual General Meeting at noon today, and Chairman, Phil Moorhouse, will make the following statement:

  

Trading in the first quarter of the new financial year is at similar levels to last year. While we continue to be cautious about market conditions, the Board’s expectation of Group trading for the financial year to 31 December 2016 remains unchanged, supported by the current level of order prospects.

 

 

For further information, please contact:

 

Molins PLC

Tel: +44 (0) 1908 246870

Dick Hunter, Chief Executive

David Cowen, Group Finance Director

 

Panmure Gordon (UK) Limited (NOMAD)

Tel: +44 (0) 20 7886 2500

Andrew Potts, Peter Steel Corporate Finance

Tom Salvesen Corporate Broking

 

KTZ Communications

Tel: +44 (0) 20 3178 6378 

Katie Tzouliadis, Viktoria Langley, Emma Pearson