| 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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Dealings by directors
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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Dealings by directors
| LPA GROUP PLC | ||
| The Company was notified on 17 April 2009 that Peter Pollock, Chief Executive, had on the same day purchased 50,000 ordinary shares of 10p each in the Company, at a price of 32 pence per share. Further to the purchase, Peter Pollock is beneficially interested in 650,000 ordinary shares, being 5.68% of the Company’s issued share capital.
For further information, please contact.
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Dealings by directors
| LPA GROUP PLC | ||
| The Company was notified on 20 April 2009 that Per Staehr, Non-Executive Director, has today purchased 20,000 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 50,000 ordinary shares, being 0.44% of the Company’s issued share capital.
For further information, please contact.
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AGM Statement and trading update
| LPA Group plc | ||||||||
| LPA Group PLC is an AIM-quoted manufacturer and distributor of lighting, power and electronic systems. At today’s Annual General Meeting (“A.G.M.”), all resolutions were duly passed. Michael Rusch, Chairman made the following comments on current trading:
“In the Annual Report I stated that given the global financial crisis, unsurprisingly, the current year had started quietly. However, while we have detected a slow down in routine orders compared with previous years, our success in winning projects is running at an all time high.
“Our LED lighting products, which give up to 15 years’ maintenance free service and save up to 45% energy compared with fluorescent, have been well received in the market and the pace of new enquiries and orders is increasing.
“We are also awaiting imminent decisions on other important rail related projects which, if favourable, will add significantly to our already record high order book.
“Delivery of major rail projects will commence during the rest of this calendar year, increase in tempo thereafter and will continue to run for at least three years.
“We have reviewed our outsourcing contracts and where practical we are bringing these activities in-house, which should help our sheet metal facility in particular.
“We have had a team in Australia within the last week discussing technical points on the products which are the subject of the Letter of Intent for the £4.7m LED Lighting contract and we hope to be able to make a further announcement in respect of this soon.
“The weakness of Sterling is assisting us in our export effort which is evident in some of the contracts already won.
“Our working capital remains under strict control and our bank facilities remain comfortable.
“It would be foolhardy in the present downturn to say that we look forward to the future with confidence, but our own particular position is favourable.”
MICHAEL RUSCH Chairman 20 March 2009
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Letter to shareholders
| LPA GROUP PLC | ||||||||
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LPA Group plc (the “Company”) is pleased to announce that, ahead of its AGM on 20 March 2009, it has posted a letter to shareholders summarizing its recently announced contract awards and successes.
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£0.5m lighting equipment order for Victoria Line upgrade
| LPA GROUP PLC | ||||||||
| LPA Group plc (“LPA”), the AIM-quoted manufacturer and distributor of electronic and electro-mechanical systems and components, is pleased to announce that its subsidiary, LPA Excil Electronics Limited (“LPA Excil”), has received an order worth £0.5m to supply electronic Fluorescent Lamp Driver Units for the new Victoria Line Upgrade (“VLU”) trains’ main passenger saloon lighting.
This follows four earlier contracts won by LPA companies to supply VLU components: LPA Excil is supplying Light Emitting Diode (LED) based, step-lights, which illuminate the threshold between train and platform, LPA Niphan is supplying inter-car jumpers and standby power supply rafts, and LPA Channel Electric is supplying relays to the new VLU trains.
Delivery of this latest order will commence immediately and run through to 2012.
Peter Pollock, LPA Chief Executive, comments:
“We are delighted to have won this latest order, which brings the total value of LPA Group supply on VLU to approximately £3.0m. We have been enjoying a good run of orders at present which is building the order book for delivery over the next three years and beyond. There remain further excellent opportunities for the group which the team are working hard to secure.”
17 February 2009
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Letter if intent received for £4.7m LED-based lighting contract
| LPA GROUP PLC | ||||||||
| LPA Group plc (“LPA”), the AIM-quoted manufacturer and distributor of electronic and electro-mechanical systems and components, is delighted to announce that its subsidiary, Excil Electronics Limited (“LPA Excil”), has received a Letter of Intent for a £4.7m contract to supply LED-based lighting for a new fleet of suburban trains in Sydney Australia.
The contract from Downer EDI Rail, the Australian-based rail vehicle builder, will be for the manufacture and supply of the main passenger lighting, task lighting, passenger exit lighting and crew cab lighting for Sydney’s new fleet of double-deck passenger trains which are the subject of a Public Private Partnership (the “PPP Project”).
The PPP Project covers the supply of 78 eight-car train sets, a total of 624 vehicles. The full contract value of LPA Excil’s supply of the LED based lighting, once the contract details have been finalised, is expected to amount to approximately £4.7m, with delivery commencing during the second quarter of 2009 and continuing over the next five years. In addition, there is an option to extend the fleet of vehicles by up to 50%.
The lighting to be supplied will use LPA’s LED technology exclusively, including LPA-Lumistrip, the Company’s leading edge solid-state LED replacement for fluorescent tube lighting. LPA-Lumistrip offers weight savings, reduced energy consumption and extended life as compared to standard fluorescent tube technology.
Peter Pollock, LPA Chief Executive, comments:
“Once confirmed this will be the largest contract ever awarded to LPA, and follows our earlier £2.5m contract, announced last September, for the supply of electrical inter-car connection equipment to Downer EDI Rail for this new fleet of trains.
Our order book was already at record levels, this contract, once confirmed, will raise the levels to new heights.”
9 February 2009
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