Directorate Change

RNS Number : 0732J

Northacre PLC

24 June 2011

 

24 June 2011

Northacre PLC

Directorate Change

Northacre PLC ("the Company or Group") announces that Manish Santilale has resigned as Finance Director to pursue other opportunities. The Company is pleased to announce that Ken MacRae has been appointed as successor to Manish. Ken was previously with Arady Properties PSC where he was the Chief Investment Officer and Acting Chief Executive Officer of main Joint Venture. Prior to this, he was Head of Property Finance at Deutsche Postbank.

All the changes take place with immediate effect.

Klas Nilsson said, "On behalf of the Board, I would very much like to thank Manish for his valuable contribution and commitment to the development of the Group over the past 14 years. We would like to wish him every success in the future".

Enquiries:

Northacre PLC

Klas Nilsson (Chairman and Chief Executive)

020 7349 8000

Hudson Sandler Ltd

Michael Sandler

020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)

Capel Irwin

Harry Florry

020 7418 8900

The following information is disclosed in relation to Schedule Two paragraph (g) of the AIM Rules:

Kenneth MacRae (aged 42) was a director or partner of the following in the last five years:

Iris Modern Urban Management LLC

Optima Real Estate Capital LLP

Optima Real Estate Ltd

Tower Markets Ltd

 

END

 

 

BOAUSSRRANANUAR