(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Friday and not separately reported by Alliance News:
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Urban Exposure PLC - Chief Executive Officer Randeesh Sandhu and Chief Operating Officer Daljit Sandhu both resign immediately, while Chair William McKee will retire as director at July annual general meeting. Chief Financial Officer Sam Dobbyn to take over executive management of operations. Graham Warner will be appointed as independent director and become non-executive chair. Warner is former finance director for JO Hambro Capital Management Group Ltd. All changes follow early May decision to stop seeking new business and concentrate on managing existing portfolio of loans to maturity. Has since ended discussions with management team for sale of Urban Exposure Amco Ltd and entering loan servicing agreement with Amco. Instead, will manage relationships itself. Believes orderly wind-down of company can produce net returns of 70 pence to 83p per share, with 80% returned within 7 to 15 months. Current share price 53.00p. Will release 2019 results on June 26.
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Versarien PLC - Cheltenham, Gloucestershire-based materials engineering - Hires James Stewart as non-executive chair, effective immediately. A 25-year private equity sector veteran, Stewart is managing partner of investment and advisory firm Menlo Partners LLP.
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M&G PLC - London-based savings and investments manager - Robin Lawther to step down as non-executive director due to demands from "other professional commitments in the current environment". Says search for successor will start immediately.
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Genesis Emerging Markets Fund Ltd - investment in equity markets in developing countries - Appoints Torsten Koster as independent non-executive director from July 1. Koster was chief financial officer for Nestle Nespresso SA, the coffee pod business of Nestle SA.
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Trakm8 Holdings PLC - Birmingham-based fleet management, insurance telematics - Hires Penny Searles as non-executive director with immediate effect. Searles is founder of Smart Driver Club Group, a telematic data company serving insurance customers.
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Hibernia REIT PLC - owns and develops office property in Dublin - Frank Kenny to step down as non-executive director at July 29 annual general meeting.
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By Tom Waite; thomaslwaite@alliancenews.com
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