Helical Bar Regulatory News (HLCL)

1 Aug 2007 07:01

Helical Bar PLC01 August 2007 1 August 2007 Helical Bar plc ("Helical" or "the Company") HELICAL BAR ANNOUNCES APPOINTMENTS OF MICHAEL BROWN AS DEPUTY CHIEF EXECUTIVE AND THE PROMOTION OF MATTHEW BONNING-SNOOK AND JACK PITMAN TO THE BOARD Helical Bar is delighted to announce a number of changes to its Board. In recognition of their growing influence in the Company's increasingly diverseactivities and their contribution to its performance, Matthew Bonning-Snook andJack Pitman have been appointed to the main board as Executive Directors withimmediate effect. • Matthew Bonning-Snook (39) oversees many of Helical's office and mixed use developments. Prior to joining Helical in 1995, he worked for RichardEllis (now CBRE). • Jack Pitman (38) is responsible for many of Helical's change of use projects and for a number of joint venture relationships. Before joining the Company in 2001, he previously worked for Chester Properties Ltd. No further details remain to be disclosed for either appointment as requiredunder LR 9.6.13R of the Listing Rules of the UK Listing Authority. In addition, the board is pleased to confirm that Michael Brown (46), currentlythe Company's Investment Director and an Executive Director since 1998, has beenappointed Deputy Chief Executive with immediate effect. Michael has worked forHelical since 1997, during which time he has been responsible for Helical'sinvestment activities and played a major part in driving the growth andperformance of the Company. Founders Michael Slade (Chief Executive) and Nigel McNair Scott (FinanceDirector), together with Gerald Kaye (Development Director since 1994), maintaintheir long-standing roles within the Company. Commenting on the appointments, Giles Weaver, Chairman of Helical Bar, said: "The enlarged board will help sustain the energy and creative flair that hasbeen at the heart of Helical's success as a listed property company over thelast 22 years." Michael Slade, Helical's Chief Executive, added: "These important promotions reflect our ambition to sustain our track record ofdelivering significant value for our shareholders. "The protection of our shareholders' interests, the delivery of the Company'sstrategy and the alignment of both through the activities of a talented andmotivated management are key to our success. As one of the Company's largestshareholders and its Chief Executive, I am delighted with these appointmentswhich not only recognise the significant achievements of Michael, Jack andMatthew but also ensure that all of us on the strengthened board are bestpositioned to drive the Company's ongoing growth." -ENDS- For further information, please contact: Helical Bar plc Tel: 020 7629 0113 Michael Slade (Chief Executive)Nigel McNair Scott (Finance Director) Website: www.helical.co.uk Financial Dynamics Tel: 020 7831 3113 Stephanie Highett/Dido Laurimore This information is provided by RNS The company news service from the London Stock Exchange