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Eredene Capital PLC (ERE)

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Thursday 09 September, 2010

Eredene Capital PLC

Directorate Change

RNS Number : 4114S
Eredene Capital PLC
09 September 2010


09 September 2010

On behalf of:

Eredene Capital PLC ("Eredene" or the "Eredene Group")

For immediate release


Eredene Capital PLC


Eredene Capital PLC appoints Paul Gismondi and Robert Arnold as new non-Executive Directors


Eredene Capital PLC (AIM: ERE), the leading AIM quoted investor in Indian infrastructure, announces that it has appointed Paul Gismondi and Robert Arnold as new non-Executive Directors.


Mr Gismondi, 54, who has more than 30 years of experience in the banking industry, is a Managing Director of Lazard & Co., Limited.  His main focus has been providing advice to the firm's clients on all forms of public and private equity and equity-linked financings, including initial public offerings, follow-on and convertible financings and private placements.


Before joining Lazard in 1990, Mr Gismondi was managing director of Manufacturers Hanover Limited in London.


Mr Arnold, 73, is an experienced insurance industry professional having spent many years as a partner with the global insurance broker, Willis Faber & Dumas. Mr Arnold was also a board director of Allianz Portugal.


Mr Gismondi and Mr Arnold join the board following the announcement in June 2010 that Eredene had won a bid in a consortium to build and operate a £207 million container terminal at Ennore in southern India. This major new project is in addition to Eredene's ten existing investments in India.


Mr Alastair King, Eredene's Chief Executive and founder, said: 


"Mr Gismondi's experience in banking and financing and Mr Arnold's marine insurance expertise will strengthen Eredene's board at a critical time when the Eredene Group is poised for growth as it seeks new opportunities in India and as its current investments in Indian infrastructure develop and mature."


AIM Rule Disclosures for Paul Arthur Gismondi

Current directorships: Hampson Industries plc

Previous directorships: Delta plc, Panmure Gordon & Co. plc, L C M Nominees Limited


AIM Rule Disclosures for Robert Johnston Arnold

Mr Arnold's wife has an interest in Ornaisons Foundation which is the beneficial owner of 20,356,250 shares in Eredene.                               




Eredene Capital PLC

Tel: +44 20 7448 8000

Alastair King/Ranveer Sharma

Numis Securities Limited

Tel: + 44 20 7260 1000

Heraclis Economides

Redleaf Communications

Tel: + 44 20 7566 6727

Adam Leviton/Henry Columbine

[email protected]


Notes to Editors


About Eredene Capital PLC


¡ Eredene Capital PLC is the leading UK-based AIM quoted investor in infrastructure projects in India. It focuses primarily on ports, port services, logistics and distribution warehouses.


¡ The Eredene Group has announced investments in eleven projects in India - nine in ports/port services, logistics and distribution warehouses, one in IT offices and one in a large scale, affordable housing development. Four of its projects are revenue generating, of which two are profitable and dividend paying and a fifth is taking sales deposits.


¡ Eredene trades on the Alternative Investment Market (AIM) of the London Stock Exchange.


This information is provided by RNS
The company news service from the London Stock Exchange

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