9 January 2024
Lords Group Trading plc
('Lords', the 'Group' or the 'Company')
Directorate Change
Lords, a leading distributor of building materials in the UK, announces that Chris Day, Chief Financial Officer and Chief Operating Officer, has informed the Board of his decision to leave the Company to take up another professional opportunity.
Following Chris Day's recent transition to a partially operational role within the Group, a formal process to identify and appoint a new Chief Financial Officer had already begun and is now at an advanced stage. Chris, who remains a Director of the Company, will leave the Group in the period to 30 June 2024, following the publication of the Group's Annual Report for the year ended 31 December 2023.
Further announcements will be made, as appropriate, in due course.
Gary O'Brien, Non-Executive Chairman of Lords, said: "Chris has made a significant contribution to Lords as a highly valued colleague and Board member over the last seven years, during which time the Group has delivered significant growth and diversification. He will be leaving Lords in H1 2024 with the thanks of the Board and his colleagues for his contribution to the Group.
"The Board is well advanced in an active recruitment process to identify a successor to Chris and the intention is for the new CFO to be in place as soon as possible to ensure a smooth transition for the business."
- Ends -
FOR FURTHER ENQUIRIES:
| Lords Group Trading plc | Via Buchanan |
| Gary O'Brien, Non-Executive Chairman Shanker Patel, Chief Executive Officer | Tel: +44 (0) 20 7466 5000 |
| | |
| Cavendish Capital Markets (Nominated Adviser and Joint Broker) | Tel: +44 (0)20 7220 0500 |
| Ben Jeynes Dan Hodkinson (Corporate Finance) | |
| Julian Morse / Henry Nicol / Charlie Combe (Sales and ECM) | |
| Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi
| Tel: +44 (0)20 3207 7800 |
|
Buchanan Communications |
Tel: +44 (0) 20 7466 5000 |
| Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist
|
Notes to editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.
The Group operates through the following two divisions:
· Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 31 locations in the UK.
· Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 17 locations enabling nationwide next day delivery service.
Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 48 sites. Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.
Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For additional information please visit www.lordsgrouptradingplc.co.uk.
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