Notification under AIM Rule Schedule Two (g)

RNS Number : 0827Q

Allergy Therapeutics PLC

09 October 2013

 



9 October 2013

Allergy Therapeutics plc

("Allergy Therapeutics" or "the Company")

Notification under AIM Rule Schedule Two (g)

Allergy Therapeutics plc (AIM: AGY), the specialist pharmaceutical company focused on allergy vaccination, makes the following update announcement under AIM Rule Schedule Two (g) regarding Stephen Smith, a non-executive director of Allergy Therapeutics plc.

In addition to being a non-executive director of the Company, Stephen Smith acts as a 'company doctor' working with companies in distressed situations and in some cases the role has required a restructuring through a pre-planned administration/receivership or a planned insolvency to ensure an orderly winding down of the business. In providing these services, Stephen Smith was appointed as a director of the companies listed below in Table 1 which had administrators, receivers or liquidators appointed. These companies were part of the following groups:

·      Texon International Group where Stephen Smith was appointed a director in 2004 and subsequently there was a restructuring in 2005 through a receivership which created a viable group where he continues to be a director.

·      Ethel Austin Group where Stephen Smith was appointed a director in 2005. In 2008 lenders sold their secured loans to a company which appointed administrators a few days later.

·      The Food & Drink Group where Stephen Smith was appointed a director in 2008 and administrators were appointed in 2009 in a pre-planned process to achieve a sale of the profitable parts of the business.

·      Paramount Restaurants Group where Stephen Smith was appointed a director in 2011 and later that year arranged a restructuring and subsequent pre-planned administration to achieve disposals of the profitable parts of the group.

·      Ennstone plc where Stephen Smith was appointed a director in 2008 and administrators were appointed in 2009 to complete a restructuring which ensured the viability of the UK and European businesses and protected the US business via a Chapter 11 process.

Table 1

Company		Comments
ACLM Limited (in administration)		Part of Ethel Austin Group
Bluelodge Limited (in administration)		Part of The Food & Drink Group
Burlington Restaurant Limited (in administration)		Part of The Food & Drink Group
Ennstone plc (in administration)		Holding company
Enterprises Realisations Limited (in administration)		Part of The Food & Drink Group
Ethel Austin Retail Group Limited (in administration)		Part of Ethel Austin Group
Ethel Austin Retail Holdings Limited (in administration)		Part of Ethel Austin Group
Futurestar Limited (in administration)		Part of The Food & Drink Group
Group Realisations Limited (in administration)		Part of The Food & Drink Group
Hartford Operations Limited (in administration)		Part of The Food & Drink Group
J Bar Limited (in administration)		Part of The Food & Drink Group
Montana plc (in administration)		Part of The Food & Drink Group
Newtaste Restaurants Limited (in administration)		Part of The Food & Drink Group
Noteframe Limited (in administration)		Part of Ethel Austin Group
Noxet Administration Services Limited		Part of Texon International group
PWC Realisations Limited (in administration)		Part of The Food & Drink Group
Texon Group Limited		Part of Texon International group
Texon Holdings Ltd (in liquidation)		Part of Texon International group
Texon International Limited		Part of Texon International group
The Food & Drink Group plc (in administration)		Part of The Food & Drink Group
USM (Holdings) Ltd		Part of Texon International group
Vantis Financial Management Limited (in administration)		Part of Vantis group
Vantis plc (in administration)		Part of Vantis group
Caffe Uno Brasseries Limited (in administration)		Part of Paramount Restaurants group
Charlotte Street Restaurants Limited		Part of Paramount Restaurants group
Chez Gerard Restaurants Limited (in administration)		Part of Paramount Restaurants group
Craftbutton Limited (in administration)		Part of Paramount Restaurants group
Groupe Chez Gerard Limited (in administration)		Part of Paramount Restaurants group
Groupe Chez Gerard Restaurants Limited (in administration)		Part of Paramount Restaurants group
Leviathan Limited (in liquidation)		Part of Paramount Restaurants group
Paramount Acquisitions Limited (in liquidation)		Part of Paramount Restaurants group
Paramount Holdings Limited (in administration)		Part of Paramount Restaurants group
Paramount Limited (in administration)		Part of Paramount Restaurants group
Paramount Restaurants  Limited (in administration)		Part of Paramount Restaurants group
Smile Restaurants Limited (in liquidation)		Part of Paramount Restaurants group

-Ends-

For further information

Allergy Therapeutics	[phone]
Ian Postlethwaite Finance Director
Manuel Llobet Chief Executive Officer
www.allergytherapeutics.com
Peel Hunt LLP	[phone]
James Steel / Dr. Vijay Barathan
FTI Consulting	[phone]
Simon Conway / Victoria Foster Mitchell

 

END

 

 

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