Last checked at 1 May 2009 14:51
1 May 2009
Helical Bar plc ("Helical" or the "Company")
DIRECTORATE CHANGE
Helical Bar plc today announces that Michael Brown, Deputy Chief Executive, has notified the Company of his intention to resign from the Board to become Chief Executive of Prestbury. He will leave the Company and formally resign from the Board following an agreed notice period.
Mike Slade, Chief Executive of Helical, commented:
"Helical has a highly experienced senior management team comprising long-serving directors Nigel McNair Scott, Gerald Kaye, Jack Pitman and Matthew Bonning-Snook who - alongside me - have collectively worked at the Company for 86 years, an average of over 17 years each. We continue to make good progress with the Company's diverse range of investment properties, planning and development projects, owned both directly and through joint ventures. With the backing of our strong balance sheet, well-established partnerships and the broad expertise and skills of our management team, we are extremely well positioned to take advantage of the substantial number of opportunities in the market to create future shareholder value.
"We would like to take this opportunity to thank Mike for his significant contribution to Helical and to wish him every success in the future."
For further information, please contact:
| Helical Bar plc Mike Slade, Chief Executive Nigel McNair Scott, Finance Director | Tel: +44 (0)20 7629 0113 |
| Financial Dynamics Stephanie Highett Laurence Jones | Tel: +44 (0)20 7831 3113 |