-3x Short China Regulatory News (SCHE)

22 Jan 2008 07:00

Southern Cross Healthcare Grp PLC22 January 2008 BOARD CHANGE Tuesday, 22 January 2008 - Southern Cross Healthcare Group PLC (LSE: SCHE)('Southern Cross' or the 'Company'), the UK's largest care home operator, todayannounces that Graham Sizer has indicated to the Board that he wishes to standdown from his position as Finance Director. In order to achieve an orderlyhandover, Graham has agreed to remain with the Company until 29 February 2008,at which time he will be succeeded by Jason Lock who has served as SouthernCross' Financial Controller since joining the Company in March 2003. Jason Lock, 35, is a qualified chartered accountant and prior to taking on hisrole at Southern Cross worked at PriceWaterhouseCoopers in various audit and taxroles. He worked together with Graham during Southern Cross' successful IPO in2006 and has been closely involved in the Company's financing strategy andacquisition activity since that time. He holds a BSc (Honours) degree inChemistry from Durham University. Jason will join the Board of Southern Crosson 1 March 2008. Bill Colvin, CEO of Southern Cross, commented: "On behalf of the Board, I wouldlike to thank Graham for the substantial contribution he has made to the successof Southern Cross. We wish him well with his future plans. "We are pleased to announce Jason's appointment as Finance Director and welcomehim to the Board. His knowledge of Southern Cross and of the care home industrycombined with his acquisition experience will be of great benefit to the Group." Enquiries: Southern Cross Healthcare Group PLC +44 (0)1325 351100Bill Colvin, Chief Executive Financial Dynamics +44 (0)20 7831 3113David Yates/Deborah Scott/Emma Thompson About Southern Cross Southern Cross is, in terms of number of beds, the largest UK provider of carehome services for the elderly and a major provider of specialist services forpeople with physical and/or learning disabilities. The Company's care homes forthe elderly operate under two distinct brands: Southern Cross Healthcare andAshbourne Senior Living. Both brands provide a range of social and personalcare services and nursing care services for elderly people with physicalfrailties and differing forms of dementia. The Company's specialist servicesoperate under the Active Care Partnerships brand and provide long-term careservices for people with physical and/or learning disabilities and for youngerpeople with complex forms of challenging behaviour. Southern Cross is focused on providing high quality care in well investedfacilities, seeking to be the home of choice in each local community in which itoperates. The Company provides care services for most of the local authoritiesin the UK which, together with the NHS, represent over circa 70% of theCompany's revenues. Its care home portfolio is largely purpose-built with ahigh percentage of single occupancy rooms and rooms with ensuite bathrooms.Occupancy levels in its core elderly segment are consistently in excess of 90%. This announcement includes statements that are, or may deemed to be, "forwardlooking statements". These forward looking statements can be identified by theuse of forward looking terminology, including the terms "believes", "estimates","plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparableterminology. These forward looking statements include matters that are nothistorical facts and include statements regarding the Company's intentions,beliefs or current expectations concerning, among other things, the Company'sresults of operations, financial condition, liquidity, prospects, growth,strategies and the outlook on the care home industry. By their nature, forwardlooking statements involve risk and uncertainty because they relate to futureevents and circumstances. This information is provided by RNS The company news service from the London Stock Exchange