Chimpchoker2 Aug 2012 20:51
so I see...big shot..well lets hope so :o)
Plant Health Care appoints big shot chairman
Plant Health Care unveiled the hiring of a high profile chairman days after revealing it had attracted a well-known small companies investor too, amid enhanced speculation of takeovers in the sector.
The alternative agrichemicals group, which has signed up the likes of Monsanto and Syngenta as partners, revealed that it had appointed as non-executive chairman Christopher Richards, also chairman of Arysta LifeScience, the Japan-based agrichemicals giant.
Dr Richards, a former chief executive at Arysta, which is owned by private equity fund Permira, said that he was "pleased to be joining Plant Health Care at an inflection point in the company's development".
The group "has demonstrated that its technology can significantly improve the yields of many important crops, a benefit that is of considerable commercial potential", he said.
Veteran investor
The appointment came two days after Plant Health Care revealed that Robert Quested, the investor based in the United Arab Emirates, with a history largely in pharmaceuticals groups, had taken a 4.3% stake.
Other major shareholders including Henderson Global Investors and Ora Capital Partners, the technology hedge fund.
Mr Quested has also appeared on the shareholder register of groups including Ora, marketing group Communisis, and Energetix Group.
In 2006, with Christopher Potts, he secured controlling interests in Readybuy and Flightstore Group, two companies traded on London's junior Aim exchange, which were subsequently used as vehicles for reverse takeovers.
Rising shares
Shares in Plant Health Care have doubled since falling to 46.5p in late June, with the revival spurred by ideas of takeovers within the sector fuelled by Bayer's near-$500m takeover of AgraQuest, the US-based agrichemicals group.
Plant Health Care shares closed up 1.3% at 97.5p in London.
Arysta also has ties with London-listed agrichemicals group Plant Impact, through an equity stake. Former Arysta staff David Jones and Jon Brubaker are Plant Impact chairman and chief executive respectively.
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