13 Oct 2008 07:00
GSH Group plc
('GSH' or the 'Company')
Directorate Change
GSH Group plc (AIM: GSH), the international provider of bespoke facilities management and energy management solutions, announces the appointment of Christopher Ian McLain (aged 43) and Jamie Reynolds (aged 33) as co-Chief Executive Officers. At the same time, the Non-Executive Chairman John Kelly and Non-Executive Director Duncan Hall have stepped down from the Board.
Chris McLain is a director of GSH UK Limited and has held a number of senior positions throughout the Group. In his current role as Commercial Director, Chris has been instrumental in the success and growth of the business in recent years and has extensive knowledge of the energy and facilities management sector. Chris has worked for GSH for 18 years and will take over responsibility for the Group's UK & Eire operations.
Jamie Reynolds, who is currently President of the US business and a director of George S Hall Americas Limited will take over responsibility for the Group's existing operations in Europe and the US and continue to identify further international opportunities. Jamie joined GSH in 1993 and has over 15 years experience in the energy and facilities management sector. Jamie has secured significant contract wins and has had substantial influence on the Group's success.
Chief Financial Officer, David Simons, has been appointed interim Chairman, with immediate effect. An announcement regarding the appointment of a new Non-Executive Director will be made in due course.
Commenting, David Simons, Chief Financial Officer and interim Chairman of GSH, said:
"On behalf of the Board, staff and shareholders, I would like to thank John and Duncan for their contribution to the Group and wish them both well in the future.
I am delighted to welcome Chris and Jamie to the Main Board of the Group as co-Chief Executive Officers and I look forward to their ongoing valuable contributions towards the future development of GSH".
As announced on 9 September 2008, current trading remains in line with Board expectations and the Group exited the year ended 31 July 2008 trading positively. There is strong demand for the Group's services and the Board looks forward to the future with confidence. Preliminary results for the year ended 31 July 2008 will be announced on Thursday 23 October 2008.
Save in relation to Directorships of GSH Group companies, there are no further disclosures to be made in accordance with Schedule 2(g) of the AIM Rules.
Chris McLain has an interest in 25,000 ordinary shares (representing 0.1 per cent. of the issued share capital) and options over a further 43,090 ordinary shares and holds a further 45,000 ordinary shares under the terms of the Senior Management Incentive Plan ("SMIP").
Jamie Reynolds has an interest in 24,000 ordinary shares (representing 0.1 per cent. of the issued share capital) and options over a further 52,331 ordinary shares and holds a further 80,000 ordinary shares under the terms of the SMIP.
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For further information, please contact:
GSH Group plc
David Simons 01782 200455
Bell Pottinger Corporate & Financial
Nick Lambert / Christopher Hamilton 020 7861 3232
KBC Peel Hunt, nominated adviser & broker
Julian Blunt 020 7418 8900
Notes to Editors:
GSH Group plc
GSH Group is the UK's fastest expanding FM specialist and a leading international player. The Group is dedicated to providing high quality energy and facilities management solutions designed to meet clients' specific needs and objectives.
www.gshgroup.com