Helical Bar Regulatory News (HLCL)

26 November 2015

Helical Bar plc

("Helical" or Helical Bar" or the Company")

GERALD KAYE TO SUCCEED MIKE SLADE AS CHIEF EXECUTIVE OF HELICAL BAR

-MIKE SLADE TO BE APPOINTED NON-EXECUTIVE CHAIRMAN-

Helical Bar announces that Gerald Kaye, Development Director and a member of the Board since 1994, will succeed Mike Slade as Chief Executive who has announced his intention to step down as an Executive Director following next year's Annual General Meeting ("AGM") in July.

Helical Bar also announces that its Non-Executive Chairman, Nigel McNair Scott, intends to stand down from the Board at the next AGM, and that Mike Slade will become Non-Executive Chairman of the Company at that time. Andy Gulliford, a Non-Executive Director since 2006, has also advised the Company that he intends to stand down at the 2016 AGM.

These decisions were taken after careful consideration by the Board of Helical Bar and with external professional advice regarding what is in the best long term interests of the Company and its shareholders. The Board's Nominations Committee has consulted major shareholders, setting out its reasons for these changes.

Having considered the options of both external and internal appointments for the role of Chief Executive, it became clear that Helical's senior management team offered the strongest possible candidates and, after a thorough process, the Nominations Committee proposed Gerald Kaye as the new CEO.

Gerald's 21 year career with Helical has seen him deliver substantial realised profits for shareholders, often with little or no equity contribution from the Company. He has all the skills needed to head the Company in the next phase of its growth. Most recently he has been responsible for the developments at Barts Square and The Bower, two major mixed use London schemes.

Whilst considering the Non-Executive Chairman appointment, the Board was fully mindful of the UK Corporate Governance Code's recommendation for a new Chairman to be independent upon appointment but also its role to consider carefully and, in turn, explain any decisions which it takes for the benefit of the Company and its shareholders. Having taken independent professional advice, the Nominations Committee assessed both internal and external candidates for the Non-Executive Chairman role, considering individuals across the property industry and from a wider financial and UK industry background. Ultimately, the Nominations Committee believed that Mike Slade would offer the Company the best possible level of experience, access to important relationships and knowledge of property markets, as well as a degree of continuity which is important during a time of change.

In addition to the above changes, Helical also plans to appoint up to two additional Non-Executive Directors to provide further independence and balance to the Board. Following the 2016 AGM, the Board expects to consist of a Non-Executive Chairman, four Executive Directors and five independent Non-Executive Directors.

Richard Gillingwater, Senior Independent Director and member of the Nominations Committee at Helical, said:

"The Board appreciates the significance of the changes taking place at Helical but also recognises the importance of continuity given the unrivalled performance of the Company over the past 30 years. Under Mike's leadership, Helical is blessed with a depth of talent. Gerald knows the business inside out and has a strong track record of delivering profits throughout the property cycle. The Board was unanimous in its decision to appoint Gerald.

"While it is appropriate that Mike should step down as CEO after a long and successful tenure it is also right and in the best interest of the Company and its shareholders that he should become its next chairman when Nigel McNair Scott stands down. The Board wishes to thank Mike for his outstanding contribution to the business during his long tenure, and at the same time thank Nigel and Andy for their commitment to the Board and support over the years."

Mike Slade, Chief Executive of Helical, added:

"Gerald is one of the most talented and experienced professionals within the property business with fantastic vision. He has delivered numerous highly profitable schemes during his career with Helical which have been integral to the Company's delivery of strong shareholder returns. As a significant shareholder myself, I expect Helical to thrive under his stewardship whilst also being delighted that I will continue to be part of the Helical story in my new role. I would like to add my thanks to Nigel for being my business partner and, more importantly, close confidant and friend over the last 30 years, and also to Andy, for his advice, wisdom and support during his 10 years on the Board of Helical."

Gerald Kaye, Development Director of Helical, said:

"Mike and I have worked together for over 21 years and I am honoured to succeed him as Helical's new CEO and thank the Board for its support. I look forward to leading Helical during exciting times for the Company and to working with my fellow Executive Directors, Tim Murphy, Matthew Bonning-Snook and Duncan Walker as well as the rest of the top class Helical team."

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