22 Dec 2008 13:54
22 December 2008
Mortice Limited
Appointment of Chief Financial Officer of Tenon Property Services Private Limited
Mortice Limited ("Mortice" or the "Company"), (AIM:MORT), the Singapore-headquartered security and facilities management company, is pleased to announce the appointment of S. Krishnaswamy, as Chief Financial Officer of Tenon Property Services Private Limited ("Tenon"), the Company's facilities management subsidiary with immediate effect.
Following the continuing growth of the Mortice group companies including Tenon and Peregrine Guarding Private Limited ("Peregrine"), Mr. Krishnaswamy has been appointed to ensure continuity in providing a strong financial management practice to support the growing business. As Tenon's Chief Financial Officer, Mr. Krishnaswamy will be responsible for all finance and accounting related activities for both subsidiaries of Mortice, Tenon and Peregrine, as well as for Mortice itself.
Mr. Krishnaswamy is a certified Chartered Accountant and Cost Accountant with over 19 years of experience in finance and accounting including corporate finance and accounting systems and management control systems across a number of sectors. Mr. Krishnaswamy also has experience in risk management, business process improvements and implementing systems leading to substantial cost control.
He joins Tenon from TNS India, where he was Executive Director (Finance) and a member of their Executive Board. He had also held senior management positions with Agfa Photo (India),Intertoll, ICS, CEcons, O&M Co and with Frederic R. Harris (India). He has experience of supporting his previous organizations in various geographies including the US, UK, UAE and Australia.
Mr. Krishnaswamy replaces Bhairav Kothari, who is leaving the Group to further his entrepreneurial interests. Mr. Kothari will continue to advise the Group on M&A and fund raising activities.
Manjit Rajain, Chairman of Mortice commented:
"Mr. Krishnaswamy joins us at an exciting stage in the growth of Mortice. We have continued to see significant expansion of our facilities management and gurading. With his strong experience in all aspects of finance, Mr. Krishnaswamy will further enhance the robustness of our financial and accounting systems and processes."
For further information please contact:
Mortice Limited
Manjit Rajain, Executive Chairman Tel: +91 981 800 0011
Andrew Barker, Executive Director Tel: +91 981 867 7550
Grant Thornton UK LLP
Fiona Owen Tel: +44 207 383 5100
Jermyn Capital Partners PLC
Dharmesh Doshi Tel: +44 207 399 2020
Pelham PR
Alex Walters / Charles Goodwin Tel : +44 203 159 4399
Notes to Editors
Mortice, which listed on AIM in May this year is the parent company of Peregrine Guarding Private Limited ("Peregrine"), and the holding company of Tenon Property Services Private Limited ("Tenon"),both of which are based in India (together called 'the Group').
Peregrine, founded in 1995 by Mr. Rajain, provides security services across India and services a client base of over 450 major corporate and multinational clients through a pan-India presence in 51 locations in 21 out of the 28 Indian states. These clients are in a wide range of sectors which include information technology enabled services, telecoms, manufacturing, pharmaceutical, banking and healthcare.
Tenon, which developed as a result of the success of Peregrine , provides a wide range of facilities management services to major multinational clients and has a strong management team with experience in setting-up, managing and delivering integrated facilities services to the Indian corporate and real estate sector.