Update on planning situation at Saffron Walden
Rail contract win
Director shareholding
Change of advisor
Options
| LPA GROUP PLC (“LPA” or the “Group”) | ||||||||||||||||||||||||||||
| Re Options Dated: 4 April 2011 LPA Group PLC announces that certain options to subscribe for ordinary shares of 10p each in the Company granted to directors under the 1997 Unapproved Share Option Scheme have lapsed. The lapsed options are detailed below:
Following the lapse of the aforementioned options, the directors continue to be interested in options to subscribe for ordinary shares as
Enquiries:
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Grant of options
| LPA GROUP PLC (“LPA” or the “Group”) | ||||||||||||||||||||||||||||
| Grant of options Dated: 1 April 2011 LPA Group PLC announces that on 1 April 2011 it granted options to subscribe for a total of 200,000 ordinary shares of 10p each in the Company to directors, exercisable at a price of 32 pence per share, expiring on the tenth anniversary of grant (the “Grant”). These were granted as below:
Following the Grant, the directors are interested in options to subscribe for ordinary shares as set out below:
Enquiries:
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AGM Statement and trading update
Trading update
Dealings by directors
Dealings by directors
Dealings by directors
Dealings by directors
Dealings by directors
Dealings by directors
| LPA GROUP PLC | ||||||
| The Company was notified on 21 April 2010 that Per Staehr, Non-Executive Director, had on that day purchased 5,000 ordinary shares of 10p each in the Company, at a price of 34 pence per share.
Further to the purchase, Per Staehr is beneficially interested in 80,000 ordinary shares, being 0.70% of the Company’s issued share capital.
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Dealings by directors
| LPA GROUP PLC | ||
| The Company was notified on 15 April 2010 that Per Staehr, Non-Executive Director, has today purchased 10,000 ordinary shares of 10p each in the Company, at a price of 28 pence per share. Further to the purchase, Per Staehr is beneficially interested in 75,000 ordinary shares, being 0.66% of the Company’s issued share capital.
For further information, please contact:
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Change of name of nominated advisor and broker
| LPA GROUP PLC | ||||||||
| LPA announces that Blomfield Corporate Finance Limited, the Company’s Nominated Adviser, has changed its name to Religare Capital Markets (UK) Limited and that its broker, Religare Hichens, Harrison plc, has changed its name to Religare Capital Markets plc.
Both Religare Capital Markets (UK) Limited and Religare Capital Markets plc trade as Religare Capital Markets.
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AGM Statement and trading update
| LPA GROUP PLC | ||||||||
| LPA Group plc (“LPA” or the “Company”) is an AIM-quoted manufacturer and distributor of lighting, power and electronic systems.
At today’s Annual General Meeting, all resolutions were duly passed.
Michael Rusch, Chairman, made the following comments on current trading:
“I said then that the first half of the 2010 financial year would be disproportionately affected. The actual effect over the first five months of this financial year is that output is £1.5m behind the budget set in September 2009.
“However, the worst would appear to be behind us in that output recovered during February of this year to almost normal levels and the load for March and the rest of the financial year is at substantially higher levels than February.
“I am pleased to report that orders taken during the first five months of this financial year have exceeded budget by £1.5m, increasing our order book by £1.1m to £17.9m as at February 2010.
“Routine orders for standard products have generally remained buoyant, although Defence and Aerospace business has been slow. As previously reported, however, sub-contract work remains depressed.
“New orders in this period included £1.2m of the long anticipated contracts for Inter-car Jumpers and Lighting for the additional Pendolino Cars and Trains for the West Coast Mainline, which will total almost £2m. This represents an important reference with Alstom in Italy, where the Pendolinos will be built. Further enquiries for lighting, including our LED products, have already been forthcoming.
“Progress has been made in developing LED Lighting markets outside the rail industry, but these developments remain at an early stage.
“To what extent the damage caused by the rescheduling of contract deliveries from the first half of the 2010 financial year can be mitigated in the second half for the year as a whole still remains unclear, however, we remain confident that progress will be made from this low point in recent performance.
“I will report further on this with the half-yearly report for the six months ending 31 March 2010, which the Company will announce in June 2010.”
4 March 2010
ENQUIRIES:
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Dealings by directors
| LPA GROUP PLC | ||
| The Company was notified on 17 February 2010 that Per Staehr, Non Executive Director, has today purchased 15,000 ordinary shares of 10p each in the Company, at a price of 32 pence per share. Further to the purchase, Per Staehr is beneficially interested in 65,000 ordinary shares, being 0.57% of the Company’s issued share capital.
For further information, please contact:
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Dealings by directors
| LPA GROUP PLC | ||||||||
| LPA Group PLC (“the Company”) has been notified today that on 17 September 2009 Peter Pollock, an Executive Director, transferred 70,000 Ordinary Shares in the Company at a price of 39p per Ordinary Share to his pension fund at James Hay Pension Trustees. Mr. Pollock’s beneficial interest in the Company has not changed as a result of this transfer and remains as below:
Number of Ordinary Shares held – 650,000 Interest in the Company’s issued Ordinary Share capital – 5.68%
For further information, please contact:
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Contract wins and trading update
| LPA Group (“LPA”) plc is an AIM-quoted manufacturer and distributor of lighting, power and electronic systems. | ||||||||
| LPA confirms that orders have been received totalling £5.7m in respect of the previously announced Letter of Intent for £4.7m from Downer EDI for saloon and task lighting for the PPP train project in Sydney,Australia. The increase in value is due to an increase in scope. The project will utilise LPA’s LumiStrip™ and LumiSpot™ solid state Light Emitting Diode (LED) based products. In addition LumiStrip™ has also been selected by a third party for the cab lighting on the project, which will marginally increase the value of the project.
Deliveries will commence immediately and will continue over the next three years. The ultimate customer has an option to purchase additional trains which could raise the value of this contract and the previously announced Inter Car Jumper contract worth £2.7m by as much as 50%.
LPA has also won its first orders totalling £0.35m for a new build project Automotrice à Grande Vitesse (AGV, a successor to TGV), for export to Italy where the vehicle will be known as Nuovo Trasporto Viaggiatori (NTV). The orders are for electronic lighting products and LumiSpot™. Deliveries will commence this year. LPA has also won its first order from Hyundai Rotem Korea for Inter Car Jumper equipment worth £0.2m, for a new train project for New Zealand. Delivery will commence this year.
In line with comments by Michael Rusch, Chairman, at the Annual General Meeting on 20 March, the current year has started quietly. Despite record project orders, routine orders, particularly for sub contract work, appear to have been adversely affected by the recession.
As a consequence, output for the first half is down 8.5% compared to a year ago. Increased Project activity is expected to offset any additional weakness in routine orders in the second half, but output is expected to be down for the year as a whole.
Peter Pollock, Chief Executive commented:
“We have been working to increase the volume and export potential of our project work for some years and these orders are arriving at just the right time to offset the worst effects of the recession. Order entry over the past 12 months exceeds £25m and this, together with further major projects expected to be awarded shortly, gives us considerable confidence for improved activity levels over the next three years. Our new LED products are arousing a lot of interest and to give an idea of the potential scale of this activity, the PPP order will consume around 25 kilometres of LumiStrip™”.
10 June 2009
ENQUIRIES:
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