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21 Jan 2010 07:00
21 January 2010
Quintain Estates & Development plc
("Quintain" / "Company" / "Group")
Directorate Changes
Quintain strengthens Board with the appointment of two non executive directors;
Joan MacNaughton to step down
Quintain Estates & Development plc announces the appointment of Sir Peter Dixon and Charles Cayzer as non executive directors to further strengthen the Board.
Charles Cayzer has been appointed as non executive director with immediate effect. As an executive director of Caledonia, he is taking up a position on the board to which Caledonia became entitled under the terms of an agreement announced as part of Quintain's Rights Issue on 5 November 2009. Charles has been a director of Caledonia since 1985, prior to which he gained experience of merchant banking, commercial banking and project finance with Baring Brothers, Cayzer Irvine and Cayzer Ltd. He is responsible for Caledonia's property portfolio and is a non executive director of Eredene Capital and Varun Shipping.
Sir Peter Dixon has also been appointed as non executive director with immediate effect. Sir Peter has a broad range of public sector experience and is currently chairman of University College London Hospitals NHS Trust, chairman of the Office For Public Management Limited and is also a lay member of the Information Tribunal. Between 2003 and 2008 he was Chairman of the Housing Corporation and, between 1986 and 1990, was director and head of capital markets for Den Norske Bank plc.
Joan MacNaughton, who has served two three year terms on the Board of Quintain, has decided not to seek re-election when her term expires at the end of January.
William Rucker, Chairman of Quintain, said:
"I would like to thank Joan for her hard work and input, particularly over the last few months during which we have repositioned the business to secure a firm financial platform from which to build substantial growth. Her insight and wise counsel over these six years have been of great value.
"I am very pleased to welcome Charles and Sir Peter to the Board. They bring to Quintain a broad range of experience and I look forward to working with them as we continue to grow the fund management business, progress our major developments and capitalise on the many opportunities market conditions present."
For further information, please contact:
Quintain Estates & Development plc
Rebecca Worthington / Cressida Curtis
Tel: +44 (0) 20 7495 8968
Financial Dynamics
Stephanie Highett / Dido Laurimore / Laurence Jones
Tel: +44 (0) 20 7831 3113
Additional information
Aside from the information set out in the announcement above and the additional information below no further information is required to be disclosed pursuant to Listing Rule 9.6.13R.
Charles Cayzer
Charles is currently a director of the following publicly quoted companies in addition to Caledonia:
Eredene Capital plc, an AIM quoted company that invests in infrastructure projects in India.
Varun Shipping Company Limited, an Indian quoted shipping company.
In addition, Charles Cayzer was a director of Land Feeds Ltd, a provider of waste disposal services, when administrative receivers were appointed on 19 June 1996.
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