Change of Directors

RNS Number : 8758P

Equest Investments Balkans Ltd

31 March 2009

 



31 March 2009

EQUEST INVESTMENTS BALKANS LIMITED

(the 'Company')

Change of Directors

The Board of the Company today regretfully announces that John Carrington, the Chairman of the Company, has resigned as a director of the Company with immediate effect for health reasons. The Board would like to thank John Carrington for all his effort and support to the Company and wish him well.

The Board of the Company also announces the appointment today of Ian Schmiegelow as a non-executive director and Chairman of the Company with immediate effect.

Following Cambridge University and practice in London as a barrister, Mr Schmiegelow spent sixteen years with Hambros Bank where he became the Executive Director responsible for its international banking and bond issuance activity. Thereafter, as a Senior Vice President of First National Bank of Chicago, he directed a review of its international activities and was Chairman of the management committee responsible for the bank's operations in the UK, Europe, Middle East and Africa.

Mr Schmieglow is Chairman and Chief Executive of Hamilton Lunn which he set up, together with his then business partner, in 1988 as a regulated corporate advisory firm. Hamilton Lunn now provides corporate finance, asset management and property investment advisory and management services to its clients. Mr Schmiegelow is also a Governor of Oundle School.

Enquiries:
Equest Investments Balkans Limited  Tel: + 44 20 7240 7600  Petri Karjalainen  Naomi Kora	Financial Dynamics  Tel: + 44 20 7831 3113  Nick Henderson  David Cranmer
Collins Stewart Europe Limited (Nomad) Tel: [phone] Hugh Field	KBC Peel Hunt Limited (Broker)  Tel: + 44 20 7418 8900  Capel Irwin

Ian Lunn Schmiegelow (aged 66) holds or has held the following directorships, and is or was a member of the following partnerships during the past five years:

Current Directorships / Partnerships:		Past Directorships / Partnerships:
Hamilton Lunn Limited		Brinkley Estates Limited
Hamilton Lunn Management Services Limited		Abington Property Investment Company Limited
Hamilton Lunn Asset Management Limited		Quickcape Limited
Hamilton Lunn (Bermuda) Limited		Apollo Fund Plc
CedarHolt Fund Limited		BeechHolt Fund Limited
Sohoul Foundation		Oundle School Building Company Limited

Mr Schmiegelow was Non-Executive Chairman of Ebury Property Holdings Limited ('Ebury') with no shareholding interest. This appointment arose at the request of the two shareholder groups, which controlled the business equally. During 1991, financial pressures caused by a worsening property market were compounded by an irreconcilable dispute between the two shareholder groups involving the freezing of certain funds of a subsidiary company. As soon as it became clear that the release of these frozen funds could not be negotiated between the two shareholder groups, the Directors unanimously decided to invite Ebury's banker, pursuant to a charge, to appoint an administrative receiver.

There are no further disclosures required under paragraph (g) of Schedule Two of the AIM Rules for Companies in respect of Mr Schmiegelow.

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