Hornby PLC - Margate, England-based model railway maker and retailer - Mike Ashley, the founder and controlling shareholder of retailer Frasers Group PLC, has signed a consultancy agreement with Hornby. Ashley will support Hornby Chief Executive Officer Olly Raeburn in the areas of systems, operations and logistics, as well as "broader matters of strategy". The agreement follows Frasers taking an 8.9% stake in Hornby last month, and there will be no payment for Ashley's services.

Current stock price: 36.75 pence, up 3.5% in London early on Wednesday

12-month change: up 53%

By Tom Waite, Alliance News editor

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