ADV.L Regulatory News (ADV)

25 Apr 2006 12:22

Advent Capital (Holdings) PLC25 April 2006 Advent Capital (Holdings) PLC ("Advent" or "the Company") DIRECTOR CHANGES Advent, the specialist Lloyd's insurer, is pleased to announce that TrevorAmbridge has today been appointed Chief Financial Officer of the Advent Group.He replaces Cliff Murphy who has stepped down from the Board as Group FinanceDirector. Mr. Ambridge has been a non-executive director of the Company since 2002 and hasgained extensive knowledge of the Advent Group during that time. Mr. Ambridgejoins the executive management of Advent from Fairfax Financial HoldingsLimited, a NYSE and TSE listed company, where he was previously Chief FinancialOfficer. He will be able to apply his considerable strategic experience toassist in moving the Group forward at this important time in its development. Mr. Murphy has been with the Group since July 2001 and during that time hasplayed an important role in the development of the business, culminating in theCompany's IPO last year along with capital raisings over the last 12 months of£110 million. Brian Caudle, Chairman of Advent, commented: "Cliff joined Advent during a period of major development and his extensiveLloyd's knowledge and his unremitting hard work and diligence have beeninvaluable during the past five years. On behalf of the Board and the wholeCompany I thank him for his contribution. We are pleased to welcome Trevor to the executive management. He brings with himthe qualities and financial and strategic management experience which willbenefit the Group during what I believe will be an exciting time of opportunityfor our business." April 25 2006 Enquiries: Advent Capital HoldingsKeith Thompson 020 7743 8200Chief Operating Officer Zoe Bucknell 020 7743 8200 Company Secretary Pelham Public RelationsCharles Vivian 020 7743 6672Gavin Davis 020 7743 6677 Editor's Notes: Trevor Ambridge (aged 46) Mr Ambridge was previously Chief Financial Officer of Fairfax Financial HoldingsLimited (listed on the New York and Toronto Stock Exchanges), withresponsibility for external financial reporting and internal controls andextensive experience in monitoring subsidiary operations, overseeing capital andcash flow management and dealing with regulators and rating agencies. Prior tojoining Fairfax in 1998, he was a partner with Coopers & Lybrand (nowPricewaterhouseCoopers LLP). Mr Ambridge has been a non-executive director ofthe Company since 2002. Mr Ambridge was a member of the Council of the Ontario Institute of CharteredAccountants (ICAO) between 1989 and 1996. He was President of the ICAO and aGovernor and a Member of the Executive Committee of the Canadian Institute ofChartered Accountants (CICA) in 1996. Mr Ambridge is a life member of CICA andhas been elected as an FCA in Canada. The information required to be disclosed under Schedule 2 (g) of the AIM Rulesis set out in the Company's Admission Document dated 27 May 2005. The onlyaddition to this information is a directorship of Hamblin Watsa UK Limited. This information is provided by RNS The company news service from the London Stock Exchange