Wt Wner Usd Regulatory News (WNER)

19 Jun 2009 12:54



Warner Estate Holdings PLC

BOARD CHANGES AT WARNER ESTATE

Board changes

Warner Estate Holdings PLC ("Warner Estate" or "the Group"), the property investment and management company, today announces that Robert Game, currently a Divisional Director, will join the Board and take over from Michael Stevens as Property Director on 1st July 2009.

Following completion of the major sales programme, which Michael led, earlier this year and with the Group focused increasingly on its asset management business, Michael and the Board have agreed that he will leave Warner Estate at the end of this month in order to seek a new challenge.

Robert, 41, has been with the Group since 2006 as Managing Director of Apia Asset Management, which co manages the Apia Regional Office Fund with Aviva Investors. He joined Warner Estate from the Wealth Management Division of Citigroup where he was Head of European Real Estate Investment, responsible for managing private client and proprietary capital investments in a wide range of direct and indirect real estate projects and funds. Prior to that, Robert was Head of Asset Management for a national office fund at MEPC.

Philip Warner, Chairman of Warner Estate commented:

"My colleagues and I are delighted to be welcoming Robert to the Board. We are confident that he will prove an able successor to Michael and pleased that the strength and depth of our management has allowed us to make an internal promotion."

"On behalf of the Board, I would like to thank Michael for all his hard work during the nine years since he joined the Group in 2000, moving on to the Board in 2005. We wish him well for the future. "

Bank facilities

As announced in the Group's Interim Management Statement in February, discussions continue with each of the Group's lenders and further information will be provided as soon as it is available.

Preliminary results

The Group expects to announce its preliminary results for the year ended 31 March 2009 on 30th July 2009. 

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Date: 19 June 2009

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