Impact Holdings (UK) plc
("Impact", "the Group" or "the Company")
Board Appointment/Management Changes/Change of Auditors/Change of Registered
Office
Impact Holdings (UK) plc (AIM: IHUK), the specialist lending business, is
pleased to announce the following changes:
Board Appointment:
David Hughes has been appointed to the Board of the Company as Non-Executive
Director with effect from 1st July 2008.
David (aged 48), is a Solicitor and Member of the Law Society and has, during
his successful career to date, held a number of senior positions, the most
recent of which was as a Partner of Yaffe Jackson Ostrin, Solicitors where he
was responsible primarily for dealing with major commercial clients of the
practice on property related matters. David also has considerable property
interests in both the UK and Europe and will also act in an advisory capacity
on all legal and property related matters for the Group.
Management Changes:
Chris Williams resigned as Finance Director on 11th June and leaves the Company
with immediate effect. Chris, who was part-time, is leaving the business as
planned to concentrate on his other business interests.
Stuart Burn has joined the business as Head of Finance and it is anticipated
that he will be appointed to the Board in due course. Stuart (aged 50) was
previously Practice Director of Cooper Kenyon Burrows Solicitors and has held
senior positions in a number of large Law firms both in the North East and
North West of England. Stuart has considerable knowledge of managing solicitor
practices and this detailed knowledge will be an asset in managing the
solicitor disbursement funding division.
Commenting on the appointment and Management changes, Paul Davies, Chief
Executive Officer said:
"I am delighted to welcome both David and Stuart to the Company. The relative
appointments will strengthen both the Board and the controls within the Group
as we continue to rebuild the business following its difficult initial phase
post flotation. Collectively they bring with them a wealth of experience in
managing both legal practices and property related matters and will be an asset
to the Board of Impact as we continue to grow the disbursement funding and
property related divisions of the business".
Change of Auditors:
Impact is also pleased to announce the appointment of CLB Coopers as auditors
to the Group. It is anticipated that the results for the financial year ended
31st March 2008 will be available in early September.
Change of Registered Office:
The Company announces that, with immediate effect, it has changed its
registered office address to:
Manchester International Office Centre
Styal Road
Manchester
M22 5WB
Additional disclosures:
The following information in respect of David's appointment is disclosed
pursuant to Schedule Two, paragraph (g) of the AIM Rules:
Current appointments:
Adelphi Castle Limited
Redknight Limited
Previous appointments:
Lex Interiors Limited
Save for the above, there is no other notifiable information.
For further information:
Impact Holdings (UK) plc
Paul Davies, Chief Executive Officer Tel: 0161 437 9499
Daniel Stewart & Company plc
Simon Leathers/Tessa Smith Tel: 020 7776 6550
Notes to Editor:
Impact Holdings (UK) plc through its individual subsidiaries provides short
term funding solutions, loans administration and IT support services in two
specific sectors:
1. The legal disbursements market;
2. Property based bridging and development market.
In addition Impact will fund other opportunities where debt instruments or
debentures provide the primary security and there are opportunities for short
term bespoke funding where serviceability precludes larger lenders from
entering this area.
Impact is regulated by The Office of Fair Trading through which it is licensed
to lend under the Consumer Credit Act 1974 and the Financial Services Authority
for regulated lending.
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