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Hornby PLC (HRN.L)

HRN.L on London Stock Exchange

30.50GBp
20 Oct 2017
Change (% chg)

-2.25 (-6.87%)
Prev Close
32.75
Open
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Volume
3,434
Avg. Vol
475,221
52-wk High
38.81
52-wk Low
26.00

Latest Key Developments (Source: Significant Developments)

Hornby says to no longer offer for sale large quantities of stock at a discount​
Tuesday, 17 Oct 2017 02:02am EDT 

Oct 17 (Reuters) - Hornby Plc :‍GROUP WILL NO LONGER OFFER FOR SALE LARGE QUANTITIES OF STOCK AT A DISCOUNT​.‍IT IS NOW CLEAR THAT SHORTFALL IS UNLIKELY TO BE RECOUPED IN CURRENT YEAR​.‍EXPECTED THAT REVENUE WILL BE LOWER AND, CONSEQUENTLY, THERE WILL BE A MATERIAL IMPACT ON PROFITABILITY IN CURRENT FINANCIAL YEAR​.‍DAVID ADAMS, INTERIM CHAIRMAN, HAS INDICATED TO BOARD OF HIS INTENTION TO STEP DOWN FROM BOARD TO TAKE UP ANOTHER APPOINTMENT​.‍SEARCH FOR AN INDEPENDENT NON-EXECUTIVE CHAIRMAN IS PROGRESSING​.  Full Article

Hornby appoints ‍Lyndon Charles Davies as CEO
Tuesday, 3 Oct 2017 05:54am EDT 

Oct 3 (Reuters) - Hornby Plc :APPOINTMENT OF CEO.‍LYNDON CHARLES DAVIES, AGED 56, HAS AGREED TO JOIN GROUP AS CEO​.‍LYNDON IS CHAIRMAN OF OXFORD DIECAST​.‍HORNBY IS EXPLORING OPPORTUNITY TO INVEST IN LCD. FURTHER INFORMATION WILL BE RELEASED IN DUE COURSE.​.‍AS A RESULT OF THIS APPOINTMENT, STEVE COOKE, CURRENT CEO, WILL STEP DOWN FROM BOARD WITH IMMEDIATE EFFECT​.  Full Article

Hornby ‍chief Steve Cooke to step down
Monday, 11 Sep 2017 05:01am EDT 

Sept 11 (Reuters) - Hornby Plc :STEVE COOKE WILL STEP DOWN AS CEO AT A DATE TO BE AGREED​.‍STEVE WILL REMAIN AS CEO FOR A TRANSITIONAL PERIOD AND AN ANNOUNCEMENT WILL BE MADE CONCERNING A NEW CEO IN DUE COURSE​.  Full Article

Hornby updates on Phoenix UK Fund offer for Hornby
Monday, 17 Jul 2017 02:19am EDT 

July 17 (Reuters) - Hornby Plc ::Hornby-Phoenix UK fund said as at 1.00 p.m on 14 july,phoenix received valid acceptances in respect of 13.7 million hornby shares, representing about 16.2 pct.  Full Article

Hornby recommends shareholders reject offer by Phoenix UK Fund
Tuesday, 4 Jul 2017 02:00am EDT 

July 4 (Reuters) - Hornby Plc :Hornby directors "believe that offer does not reflect an adequate premium for control and significantly undervalues hornby".Hornby directors, advised by Numis Securities as to financial terms of offer, unanimously recommend that hornby shareholders reject offer.Hornby directors recommend shareholders should take no action in relation to offer; should not sign document sent by Phoenix UK Fund or advisers.  Full Article

Hornby says Phoenix UK cash offer significantly undervalues co
Monday, 26 Jun 2017 02:16am EDT 

June 26 (Reuters) - Hornby Plc ::Says board considers that mandatory cash offer of 32.375 pence per Hornby share significantly undervalues Hornby and its future prospects.Says shareholders are strongly advised to take no action for time being.  Full Article

Hornby names David Adams as interim chairman
Thursday, 22 Jun 2017 07:05am EDT 

June 22 (Reuters) - Hornby Plc ::Appointed David Adams as interim chairman of board.Board considers mandatory cash offer of 32.375 pence per hornby share "significantly undervalues Hornby and its future prospects".Board also notes Phoenix UK Fund's belief that Hornby should maintain its AIM listing.  Full Article

Hornby says Roger Canham resigns as executive chairman
Wednesday, 21 Jun 2017 07:06am EDT 

June 21 (Reuters) - Hornby Plc : :Roger Canham, executive chairman, has resigned from board with immediate effect.  Full Article

Phoenix UK Fund Ltd agrees to acquire 17.6 mln Hornby shares from New Pistoia Income Ltd
Wednesday, 21 Jun 2017 03:42am EDT 

June 21 (Reuters) - Phoenix Asset Management Partners::Rule 2.7 mandatory offer for Hornby plc.Phoenix UK Fund unconditionally agreed to acquire 17.6 mln Hornby shares from New Pistoia Income at 32.375 pence per share.It is expected that acquisition will settle on 23 June 2017.Offer values entire issued and to be issued share capital of hornby at about 27.4 mln stg.  Full Article

Hornby posts FY loss before tax of 9.5 mln pounds
Wednesday, 21 Jun 2017 02:00am EDT 

June 21 (Reuters) - Hornby Plc ::FY revenue of 47.4 mln stg versus 55.8 mln stg year ago.FY loss before tax of 9.5 mln stg versus loss of 13.5 mln stg year ago.Net debt at March 31, 2017, of 1.5 mln stg versus 7.2 million stg year ago.Says decision has again been taken not to pay a dividend (2016: nil).Says outlook for medium term has improved now first stage of turnaround plan has been completed.Says at this early stage in year the co remain on track to achieve board's expectations for year.  Full Article

Toymaker Hornby to shun discounting, warns of lower revenue

Oct 17 British toymaker Hornby Plc warned on Tuesday that its full-year profitability would be hit by lower revenue and said it would no longer offer large quantities of stock at a discount after a review by its new CEO Lyndon Charles Davies.