LMP Automotive Holdings, Inc.
Under the Symbol:
LMP Automotive Holdings, Inc. Names Stuart A. Jamieson Director of Acquisitions
Monday, December 16, 2019 9:25 AM
PLANTATION, FL / ACCESSWIRE / December 16, 2019 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" "LMP"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the hiring of Stuart Jamieson as Director of Acquisitions.
"On behalf of LMP, I would like to welcome Stuart to the team" said Sam Tawfik, the Company's Chairman and Chief Executive Officer, adding that this is an important step for the Company, because in 2020, LMP intends to become a sophisticated and aggressive, technology-fluent and online-centric, franchise dealership acquirer, targeting dealership groups in the Northeast, Southeast and the Mid-West. Mr. Jamieson has agreed to start immediately, given the influx of acquisition opportunities to review.
Mr. Tawfik went on to say, "Stuart has a multitude of disciplines including over 30 years of extensive knowledge and experience in capital markets, financial analysis and operations. He has managed all aspects of over 75 acquisitions and transactions valued in excess of $6.5 billion within the Consumer, Automotive, Technology, Industrial Products, and Aerospace industries and will immediately be charged with managing and expediting the current and future deal flow from review through the execution of acquisition agreements."
Mr. Jamieson stated, "I am excited and honored to work with Mr. Tawfik and the LMP team with their award winning track record of successes."
Over the last twenty years, Mr. Jamieson has served as Managing Director and Board of Directors member of numerous private equity companies specializing in the acquisition, growth, turnaround, and consolidations of middle-market companies. His specific transactional skills include target identification and valuation, financial and legal due diligence, preparation of LOI's, stock and asset purchase agreements, transaction structuring and negotiation, as well as financing the transactions with both debt and equity. His post-acquisition responsibilities include financial and operational hands-on executive management as CEO, President, and CFO, evaluation of add-on acquisitions, divestitures, strategic planning, financing, and growth and exit strategies for portfolio companies. He has served on the Board of Directors and acted as Chairman on numerous portfolio companies.
Earlier in his career, Mr. Jamieson has over 10 years of financial, operational, turnaround, and special project experience, both domestic and in 10 international countries, with companies such as United Technologies, Litton Industries, AIG and the Singer Company. Earlier in his career, he focused primarily on corporate acquisitions and restructurings, M&A, re-engineering, forensic accounting, litigation support, cash management and internal and financial auditing. He began his career with the public accounting firm of Ernst & Young where he earned his CPA. Mr. Jamieson received his Bachelor of Business Administration in Accounting and Finance from Bryant University.
About LMP Automotive Holdings, Inc. - "Buy, Rent or Subscribe, Sell and Repeat."
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as "Buy, Rent or Subscribe, Sell and Repeat." This means that we "Buy" pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We "Rent or Subscribe" by either renting automobiles to our customers or allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP's all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We "Sell" our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we "Repeat" the whole process.
President and Founder
For more information visit: https://lmpmotors.com/.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
SOURCE: LMP Automotive Holdings, Inc.