par MBH Corporation Plc (isin : GB00BF1GH114)
EQS-Adhoc: MBH CORPORATION PLC ANNOUNCES BOARD AND LEADERSHIP TEAM CHANGES, AND INTENTION TO SELL FOUR GROUP COMPANIES TO FURTHER SUPPORT GROUP GROWTH PLANS AND LONG-TERM OBJECTIVES
EQS-Ad-hoc: MBH Corporation Plc / Key word(s): Miscellaneous
MBH CORPORATION PLC ANNOUNCES BOARD AND LEADERSHIP TEAM CHANGES, AND INTENTION TO SELL FOUR GROUP COMPANIES TO FURTHER SUPPORT GROUP GROWTH PLANS AND LONG-TERM OBJECTIVES
13-Oct-2023 / 08:55 GMT/BST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
London, 13 October 2023 MBH Corporation plc (MBH), a diversified investment holding company, announced today a number of key changes to its board and leadership team and, subject to regulatory approvals, will sell four existing Group companies: Acacia Training, Academy 1 Group, Logistica Holdings & Samuel Hobson.
The changes, which are applicable as of 13 October 2023 relate to the Board and Leadership team structure as follows:
- The following Board members (namely Kevin Hanbury, Callum Laing, Lisa Maynard-Atem, Kevin Potter, Melissa Shea, Vicky Smith and Victoria Sylvester) will resign as of today.
- Paul Seabridge will become Executive Chair and Chief Executive Officer. Paul is currently head of the MBH Leisure vertical and Principal of several MBH Group companies within the Leisure vertical - and will replace Callum Laing, Non-Executive Chair – and Victoria Sylvester, Chief Executive Officer, who are stepping down from their roles. At the age of 21, Paul had already started, bought and sold a business and he has been a successful entrepreneur throughout his 23-year career to date, with expertise in over 100 mergers and acquisitions in 11 different countries across multiple industries. Due to his extensive career in M&A, Paul has been involved in many joint ventures and special purpose vehicles related to his previous endeavours. In 2020, Paul started the MBH Leisure vertical with the acquisition of Robinsons Caravans and has gone on to grow the vertical through the successfully integrated acquisitions of White Arches, Golden Castle Caravans and Lincoln Leisure Vehicles.
- Mo Miah joins the MBH Board and leadership team as Executive Director. Mo is currently the Group Chief Financial Officer of the Falcon Recreation Group and Chief Financial Officer of the MBH Leisure Vertical, bringing considerable experience and expertise to MBH. Mo is a Fellow of the Association of Chartered Certified Accountants (ACCA) and started his career working at BDO Stoy Hayward, spending 7 years within audit and accountancy firms before moving into industry. In 2020 Mo joined Robinsons Caravans Ltd as CFO, progressing to become CFO of the MBH Leisure vertical, successfully overseeing several acquisitions during this time.
- Susan Kwok, MBH Chief Financial Officer, will step down from her role at the end of October, however will remain part of the MBH Finance Team until the end of the year. A replacement will be announced week commencing 16 October, subject to completing KYC. This replacement will also join the MBH Leadership team.
- Stan Patey has agreed to remain on the MBH Board until a new independent non-executive director is appointed. This is expected to occur week commencing 16 October and is subject to completing KYC.
The existing MBH Board has also confirmed its intention to sell four MBH Group companies: Acacia Training, Academy 1 Group, Logistica Holdings & Samuel Hobson – subject to regulatory approval. Acacia Training, Academy 1 Group and Logistica Holdings are currently part of the MBH Education vertical, with Samuel Hobson the founding member of the Group’s Health vertical. Acacia Training was one of the founding companies within MBH, with all companies playing an important role in the Group’s development over the past few years.
Paul Seabridge holds 434,644 shares directly. Indirectly 786,819 shares are held by Falcon Recreation Group Ltd, to which Paul Seabridge is a controlling shareholder which represents 20.4%.
Mo Miah holds 23,604 indirect ordinary shares in the Company, which represents 0.39% interest in the securities of the Company.
Director: Paul Seabridge
Current Directorships
AARON BRIDGE VENTURES LIMITED
AQUILA FOOD GROUP HOLDING COMPANY LIMITED
AYIA MANAGEMENT LIMITED
BROXTONS EA LTD
FALCON RECREATION GROUP LIMITED
GOLDEN-CASTLE CARAVANS LIMITED
HODDESDON DISTRIBUTION LIMITED
HODDESDON TRANSPORT SERVICES LIMITED
J&P VENTURES LLP
JWD CAPITAL 2 LIMITED
JWD CAPITAL PARTNERS PLC
LINCOLN LEISURE VEHICLES LIMITED
MILBRIDGE CONSTRUCTION LIMITED
MILLENNIUM DOUGH COMPANY LIMITED
OPULENTIA CAPITAL HOLDINGS LTD
OPULENTIA CAPITAL LTD
OPULENTIA CAPITAL REAL ESTATE HOLDINGS LTD
OPULENTIA HOLDCO 2 LIMITED
OPULENTIA SPV 10 LTD
OPULENTIA SPV 13 LTD
OPULENTIA SPV 4 LIMITED
OPULENTIA SPV 5 LTD
OPULENTIA SPV 6 LTD
OPULENTIA SPV 8 LTD
OPULENTIA SPV 9 LIMITED
OPULENTIA SPV HOLDCO 15 LTD
OPULENTIA SPV HOLDCO 16 LTD
OPULENTIA SPV HOLDCO 17 LTD
OPULENTIA SPV HOLDCO 18 LTD
OPULENTIA SPV HOLDCO 19 LTD
OPULENTIA SPV HOLDCO 21 LTD
P.N. SHARPE LIMITED
PREMIUM MOTORHOMES LIMITED
PS ACCOUNT SERVICES LIMITED
ROBINSONS CARAVANS HOLDING COMPANY LIMITED
ROBINSONS CARAVANS LIMITED
ROBINSONS CARAVANS PARTNERSHIP LLP
SEABRIDGE GROUP SERVICES LIMITED
SEABSTRACH 2 LLP
STRACHAN INVESTMENTS HOLDCO1 LIMITED
SWITCH INTERNATIONAL TRAILERS (U.K.) LIMITED
THE FIRE SAFETY COMPANY HOLDINGS LTD
TWT LOGISTICS LIMITED
UK SALADS LIMITED
WHITE ARCHES CARAVANS (RUSHDEN) LIMITED
WHITE ARCHES CARAVANS LIMITED
Past Directorships in last 5 years
3Ks ENGINEERING LTD
3Ks ENGINEERING COMPANY LTD
A1 ACE TRANSPORT SERVICES LTD
C&B CONSTRUCTION PTY LTD
CASCADE TAXI TRADING LTD
CLAY HOLDINGS SPV LTD
COALVILLE GLASS & GLAZING CO. LIMITED
COALVILLE GLAZING HOLDCO LTD.
COALVILLE WINDOW CO. LIMITED
COETUS LEISURE HOLDCO LIMITED
CONSORTIA VENTURES LTD
CRUNCH DMC LTD
CYNTA LIMITED
CYNTA LTD
DRAGON ENGINEERING SERVICES LTD
ENZO GLOBAL LTD
FARRELL ESTATE AGENCIES LTD
GJKLMPP LLP
I J RECRUIT LTD
INGLIS JANE LTD
J&P CAPITAL 3 LTD
J&P CAPITAL 4 LTD
J&P CAPITAL LTD
J&P VENTURES MANAGEMENT SERVICES LTD
J&P VENTURES TOPCO LTD
JGP CAPITAL LLP
JWD CAPITAL 3 LTD
JWD CAPITAL 4 LTD
JWD CAPITAL 5 LTD
KK850 LTD
KLEINSMAN 2 LTD
KLEINSMAN 3 LTD
KLEINSMAN GLOBAL LLC
KLEINSMAN MR LTD
KLEINSMAN RE LTD
LEARNING LINKS SERVICES LTD
LEARNING LINKS SERVICES LTD
LOGISTICA TRAINING LTD
MOSAIC ISLAND LTD
NJT MARKETING SERVICES LTD
NORTH YORKSHIRE TAXI COMPANY LTD
OPULENTIA CAPITAL REAL ESTATE HOLDINGS LTD
OPULENTIA LTD
OPULENTIA MADRID OFFICE LTD
OPULENTIA PARTNERS LLP
OPULENTIA SPV HOLDCO 17 LTD
OPULENTIA SPV HOLDCO 20 LTD
PBL TRADING 2 LTD
PBL TRADING LTD
PENNAX PLC
PROGRESS RECRUITMENT PARTNERS LLP
PROGRESS RECRUITMENT SOLUTIONS LTD
Director: Mo Miah
Current Directorships
WHITE ARCHES CARAVANS LTD
PN SHARPE LTD
WHITE ARCHES CARAVANS (RUSHDEN) LTD
ROBINSONS CARAVANS PARTNERSHIP LLP
LINCOLN LEISURE VEHICLES LTD
GOLDEN CASTLE CARAVANS LTD
PREMIUM MOTORHOMES LTD
FALCON RECREATION GROUP LTD
ROBINSONS CARAVANS LTD
ROBINSONS CARAVANS HOLDING COMPANY LTD
Paul Seabridge and Mo Miah:
1. Do not have any unspent convictions in relation to indictable offences;
2. Have not been a director of a company which has been placed in receivership, insolvent liquidation, administration, been subject to a voluntary arrangement or any composition or arrangement with its creditors generally or any class of its creditors whilst he was a director of that company or within the 12 months after he ceased to be a director of that company;
3. Have not been a partner in any partnership which has been placed in insolvent liquidation, administration or been the subject of a partnership voluntary arrangement whilst he was a partner in that partnership or within the 12 months after he ceased to be a partner in that partnership;
4. Have not been the owner of any assets or a partner in any partnership which has been placed in receivership whilst he was a partner in that partnership or within the 12 months after he ceased to be a partner in that partnership;
5. Have not been publicly criticised by any statutory or regulatory authority (including recognised professional bodies); or
6. Have not been disqualified by a court from acting as a director of any company or from acting in the management or conduct of the affairs of a company.
For IR and media enquiries:
MBH Corporation
Charlotte Fordham
charlotte.fordham@mbhcorporation.com
+44 (0) 770 396 3953
Corporate Adviser
First Sentinel Corporate Finance Limited
Brian Stockbridge
brian@first-sentinel.com
+44 (0) 7858 888 007
End of Inside Information
Information and Explanation of the Issuer to this announcement:
Paul Seabridge commented: “I am extremely excited and motivated to be able to lead MBH as it takes its next steps of development and growth globally. There are numerous new opportunities that we are already working on and we have a very healthy pipeline of new companies that are committed to becoming part of the MBH Corporation over the coming months.
As I take on the role of Chair and Chief Executive Officer at MBH, I would like to take this opportunity to thank Vikki Sylvester and team for their leadership of MBH. Vikki and I will continue to partner closely until the end of Quarter 1 next year as we transition to the new team”.
Victoria Sylvester commented: “Paul Seabridge is a dynamic, values-driven business leader who has a diverse background of experiences and an excellent track record of buying and developing business from diverse sectors. He has exceptional strategic & tactical capabilities, proven operational effectiveness, and strong experience in markets at different stages of development. I am confident that Paul and his new team are well positioned to deliver long-term growth and value for all stakeholders. I am personally very proud of what we have built at MBH over the past few years and want to thank the outgoing leadership team and Board for their unwavering commitment and support”.
About MBH Corporation
MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges (M8H:GR) and the Aquis Exchange (M8H) in London. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.
mbhcorporation.com
13-Oct-2023 GMT/BST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | MBH Corporation Plc |
| Studio 7-9, Royal Patriotic Victoria Building, Joh | |
| SW18 3SX London | |
| United Kingdom | |
| E-mail: | info@mbhcorporation.com |
| Internet: | https://www.mbhcorporation.com/ |
| ISIN: | GB00BPNYZL95 |
| WKN: | A3ESUZ |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart |
| EQS News ID: | 1748027 |
| End of Announcement | EQS News Service |
1748027 13-Oct-2023 GMT/BST