Result of AGM (9919X)
December 15 2010 - 4:00AM
UK Regulatory
TIDMDISL
RNS Number : 9919X
Discover Leisure PLC
15 December 2010
DISCOVER LEISURE PLC
("Discover Leisure" or "the Group")
Result of AGM
Discover Leisure plc, the specialist touring caravan, motor home
and leisure industry retailer, is pleased to announce that at its
Annual General Meeting held on 14 December 2010 all the Ordinary
Resolutions and Special Resolutions were duly passed.
Discover Leisure plc Tel: 01430 803385
David Morrow, Chairman
Trevor Parker, Chief Executive
Neil Harwood, Finance Director
Panmure Gordon (UK) Limited Tel: 020 7459 3600
Andrew Godber
Cubitt Consulting Limited Tel: 020 7367 5100
Chris Lane / Samantha Boston
Background Note
Discover Leisure is a leading specialist caravan, motor home and
leisure industry retailer which floated on AIM in May 2005. The
Group's strategy is to lead the consolidation and modernisation of
caravan and motorhome retailing in the UK, which also creates
opportunities to sell outdoor leisure products from its branches
and over the internet.
In August 2005, Discover Leisure acquired the company which
owned Harringtons Caravans. On 8 September 2006, it acquired
Leisure World, which owned four caravan retail outlets, for GBP5.75
million, followed on 3 July 2007 by the acquisition of Barrons
Holdings, a leading retailer of caravans, motor homes and
associated accessories with seven retail branches across the
country, for GBP20.0 million. On the same date, Mendip Caravan
Centre, which operates three retail branches, was purchased for a
total consideration of GBP2.2 million. On 12 March, 2008 Discover
Leisure announced the acquisition of the motor homes dealership
based on a five acre site in Cannock in Staffordshire from the
Brownhills Group for GBP2.66 million.
With a rapid decline in the demand for leisure vehicles
following the global financial crisis in 2008, the Group undertook
a major restructuring of the business in 2009 including the
proposal and subsequent approval of a Company Voluntary Arrangement
(CVA), refinancing of its banking facilities and closure of eleven
of its trading sites.
The Group now has 5 branches employing 260 people across the
north of England. The branches are located at: Birtley (Tyneside),
Delamere (Cheshire), Chorley (Lancashire), Darlington (County
Durham) and York (Yorkshire). Its head office is situated in East
Yorkshire.
The board consists of David Morrow, Chairman; Trevor Parker,
Chief Executive; and Neil Harwood, Finance Director. The Non
Executive Directors are Ian Currie and James Hayward.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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