Last checked at 24 Jun 2011 10:00
24 June 2011
HELICAL BAR PLC
("Helical Bar", the "Group")
HELICAL BAR STRENGTHENS BOARD WITH THE APPOINTMENT OF TWO ADDITIONAL DIRECTORS
Helical Bar is pleased to announce that it has further strengthened its Board with the appointment of two additional directors. Duncan Walker has been appointed to the Board as an Executive Director and Michael O'Donnell has been appointed to the Board as an independent Non-Executive director. Michael has also been appointed to the Audit, Remuneration and Nominations and Appointments Committees of Helical Bar. Both appointments are with immediate effect.
Duncan Walker, 32, joined the Group in 2007 and oversees a portfolio of investments and developments. In particular, he was responsible for a number of recent acquisitions, including Clyde, Newmarket and Sutton-in-Ashfield shopping centres and several industrial properties. Prior to joining the Group, he led the investment team at property investment specialist, Edinburgh House.
Michael O'Donnell, 44, is a former Managing Director of LGV Capital (formerly Legal & General Ventures), a private equity firm where he was responsible for a number of successful investments in fast growing businesses, often with a significant property element. In 2009 he established Ebbtide Partners, a consultant to, and investor in, private companies. He is Chairman of Ocean Media Group and a Non-Executive Director of Jeyes, the household products business.
No further details remain to be disclosed for either appointment, as required under LR 9.6.13R of the Listing Rules of the UK Listing Authority.
Giles Weaver, Chairman of Helical Bar, commented:
"Duncan has proven to be excellent at finding new deals for the Group and his elevation to the Board is well deserved. Michael brings a proven track record in helping companies achieve their potential and his appointment further strengthens the Non-Executive team. I welcome both of them to the Board as we continue to progress our strategy to deliver value for our shareholders."
Michael Slade, Chief Executive of Helical Bar, commented:
"These two appointments help to reaffirm our desire for Helical to return to its outperforming ways. Duncan has impressed everyone at Helical with his ability to source profitable deals and Michael's broad based business experience will add further breadth to the Board's perspective and expertise."
For further information, please contact:
Helical Bar Mike Slade / Nigel McNair Scott Tel: 020 7629 0113 | Financial Dynamics Stephanie Highett / Dido Laurimore / Laurence Jones Tel: 020 7831 3113 |