Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM rules (Feb 07).
Description of the business
For a description of the business click here
Directors
For names and biographies of the directors click here
Board responsibilities
The board of directors meets regularly throughout the year. S R Lyons (Chairman) and J D Newman (non-executive director) are considered by the board to be independent. The board is responsible for overall Group strategy, acquisition and divestment policy, approval of major capital expenditure projects and consideration of significant financing matters. There is a formal schedule of matters specifically reserved to the board's jurisdiction. This sets out the strategic direction of individual trading divisions, their annual budgets, their progress towards achievement of those budgets, their forecasts and their capital expenditure programmes. In furtherance of their duties, there are agreed procedures for the directors to take independent advice, if necessary, at the company's expense.
Each new non-executive director is appointed for a fixed term, being an initial period to the next Annual General Meeting after appointment and subject to re-appointment at the meeting for a further three years. Subsequent re-appointment will be subject to the approval of shareholders.
The board considers the Chairman to be the main point of contact to whom significant concerns of whatever nature may be conveyed. In the event that an individual does not wish to raise a concern with him, the board has identified J D Newman a non-executive director, as an independent member of the board to whom such concerns may be addressed.
The board has appointed the following committees to deal with specific aspects of the Group's affairs:
the remuneration committee reviews the terms and conditions of employment of the Group's executive directors and meets at least once a year. It consists of two non-executive directors, S R Lyons and J D Newman. No director takes part in any discussion about his own remuneration;
the audit committee, consisting of S R Lyons, J D Newman and S G Yates (non-executive directors), meets at least three times a year. It considers the effectiveness of the Group's internal controls, accounting policies and financial reporting, and provides a forum through which the external auditors report to the directors;
the nomination committee considers all new board appointments. It consists of two non-executive directors and one executive director: S R Lyons, J D Newman and A Lisanti.
Country of Incorporation and operation
Airsprung Furniture Group PLC is incorporated in England (Registration Number 1277785) which is also the main country of operation.
Other Exchanges or trading platforms
The Group is not listed on any other exchanges or trading platforms.
Significant Shareholders
SR Lyons CBE |
4.6% |
A Lisanti |
14.7% |
SGW Yates |
4.1% |
Redbird Holdings SA |
29.9% |
Schroeder Investment Management Ltd |
8.3% |
JP Yates |
8.3% |
KM Karmin |
4.31% |
Total Number of Shares |
23,888,698 |
Percentage of securities in issue that are not in public hands
The percentage of securities in issue that are not in public hands is 63.2%
Details on restrictions on the transfer of the shares
There are no restrictions on the transfer of shares
Most recent annual report and accounts
To download the most recent report and accounts click here
Notifications from the last 12 months
Prospectus, admission documents, circular or other shareholder publication from the last 12 months
These can be found here
Constitutional documents
To download the articles of association click here
Key Advisors
Registrars
Capita Registrars Northern House, Woodsome Park, Fenay Bridge, Huddersfield HD8 0LA
Registered Auditors
Grant Thornton UK LLP, 43 Queen Square, Bristol BS1 4QR
Bankers
The Royal Bank of Scotland, 3 Temple Back East, Bristol, BS1 6DE
Stockbrokers
Blue Oar Securities Plc, Colston Tower, Colston Street, Bristol BS1 4RD
Last updated 25th January 2008