Havelock Europa PLC Appointment of new Chief Financial Officer (1325B)
March 31 2017 - 2:01AM
UK Regulatory
TIDMHVE
RNS Number : 1325B
Havelock Europa PLC
31 March 2017
HAVELOCK EUROPA PLC
("Havelock" or the "Company")
Appointment of new Chief Financial Officer
-- Mr Donald Borland appointed as new Chief Financial Officer at
Havelock Europa PLC from 26 April 2017
-- Borland will succeed Ciaran Kennedy, who will stand down
after the company announces its full year results on 25 April
2017
-- Messrs Kennedy and Borland will have a handover period from
30 March 2017, to ensure an orderly transition
Havelock Europa PLC (HVE.L), the international interior
solutions provider, has appointed Donald Borland as its Chief
Financial Officer, to succeed Ciaran Kennedy, who will stand down
after the company announces its full year results on 25 April
2017.
Mr Kennedy, who has been Finance Director and Company Secretary
since June 2014, is leaving Havelock to take up the role of
Director for Scotland at Clancy Docwra. Along with Chief Executive
David Ritchie, he has been instrumental in implementing the
restructuring and rightsizing of the Havelock Europa business over
the past 18 months.
Donald Borland (aged 50) is a former Group Finance Director of
Miller Group, the Edinburgh-based real estate business whose main
subsidiary, Miller Homes, is the UK's largest privately-owned
housebuilder. He spent 18 years with Miller Group, in various
finance and accounting roles, becoming Group Finance Director in
2014, with responsibility for financing, corporate M&A and
restructuring transactions, as well as ongoing liaison with the
board and corporate shareholders.
Mr Borland has been a member of the Institute of Chartered
Accountants in Scotland (ICAS) since 1990 and is an accountancy
graduate of the University of Glasgow. Upon graduating, he spent a
decade at KPMG in a number of accountancy and audit roles, prior to
joining Miller Group in 1998. He lives in Edinburgh with his wife
and three children.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
David Ritchie, Chief Executive of Havelock Europa PLC, said:
"While I am sorry to see Ciaran leave the business, I am very
pleased that we have been able to recruit such a highly qualified
replacement in Donald. Donald's significant financial expertise and
experience of executive roles will be of huge value to the team
here and I am looking forward immensely to working with him. Ciaran
has been a great support to me during my time as Chief Executive
and a vital part of the work we have done to reshape the business.
He leaves with our best wishes."
Enquiries:
Havelock Europa PLC 01592 643883
David Ritchie, Chief Executive
WH Ireland Group plc (Nomad) 0207 220 1650
Chris Fielding
James Bavister
Charlotte Street Partners
(Media Enquiries) 0131 516 5310
David Gaffney
Adam Shaw
www.havelockeuropa.com
Schedule 2(g) Disclosures
In the past five years Donald William Borland has been a
director of the following companies:
Outlet Estates Limited Miller Fort William Limited
Wigan Standishgate Limited Miller Developments Limited
MillerBoS Limited Miller Developments (Warriston
Miller (Portsmouth) Limited Road) Limited
Market Gates Shopping Centre Miller Prestonholm Limited
GY Limited Miller Inverness Limited
Livingston No 1 Limited Miller Developments One Limited
Aqua Portfolio Limited Miller Alpha Limited
116 WRS Limited Miller Cromdale Riverside
DWB Land Limited Business Park Limited
Miller Airdrie Limited Miller (Gainsborough) Limited
Miller Maidenhead Limited South Queensferry Limited
Miller (Telford South) Miller Holdings (International)
Limited Limited
Miller East Kilbride Limited Miller Developments Holdings
TMGL Holdings Limited Limited
The Miller Homes Group Miller (St Neots) Limited
(UK) Limited Miller Developments Northern
Fairclough Homes Limited Limited
Miller Homes Limited Miller (Arena Central) Limited
Miller Homes Cambuslang Miller (Queen's Drive) Limited
Limited Cussins Commercial Developments
Miller Framwellgate Limited Limited
Miller Homes St Neots Limited Miller Developments Regeneration
Miller Residential Development Limited
Services Limited Miller (Nottingham) Limited
Miller Developments (South Miller Homes UK Plc
Wales) Limited Birch Limited
Highfields Developments Birch Commercial Limited
Limited James Miller & Partners Limited
Miller Homes Special Projects Miller Cardenden Limited
Portfolio Limited GT (North Hub) Investments
Miller Mining Limited Limited
Miller Belmont Limited Galliford Try HPS Limited
Construction Holdco 1 Limited GT (Leeds) LIFT Limited
GT TMGL Limited Galliford Try Supplies Limited
Miller Homes Holdings Limited GT Camberwell (Holdings)
Miller Group Holdings (UK) Limited
Limited GT Emblem Investments Limited
Miller Argent Holdings GT Camberwell Limited
Limited GT (Barking and Havering)
Miller Argent (Nominee Limited
No 1) Limited Miller Fulwood Limited
Miller Argent (South Wales) Ecotowers LLP
Limited Timber Basin Limited
Ffos-y-fran (Commoners) Miller Dorchester Limited.
Limited
Miller Argent (Ffos-y-fran)
Limited
Miller Lochside View Limited
Solihull Pavilions Limited
Solihull Pavilions Limited, Wigan Standishgate Limited, Market
Gates Shopping Centre GY Limited, Aqua Portfolio Limited and
Livingston No 1 Limited were each members of the Miller Group,
which in February 2012 completed a restructuring of its existing
banking facilities and secured significant new third party
investment. The restructuring included the waiver and conversion of
GBP264.5 million of the Miller Group's existing debt to ordinary
shares; the re-classification of GBP198.5 million of the Miller
Group's debt due within a year as due in greater than one year; and
the control of certain development assets with a book value of
GBP89.1million and equivalent debt being assumed by the Miller
Group's bankers. Donald Borland was a director of a number of
subsidiary undertakings within the Miller Group that were party to
these restructuring arrangements.
As part of these arrangements:
a) Solihull Pavilions Limited was placed into administration 2
March 2012 and a creditors' voluntary liquidation, which is
ongoing, on 27 August 2013;
b) Wigan Standishgate Limited was placed into a creditors'
voluntary liquidation 23 May 2012 and dissolved on 15 May 2013;
c) Market Gates Shopping Centre GY Limited was placed into
administration 2 March 2012 and dissolved on 13 April 2015;
d) Aqua Portfolio Limited was placed into a members' voluntary
liquidation 26 June 2012 and dissolved on 24 July 2014; and
e) Livingston No 1 Limited was placed into administration 2
March 2012 and dissolved on 22 March 2015.
Outside the aforementioned restructuring of the Miller Group,
116 WRS Ltd was placed into administration on 26 May 2011 and then
a creditors' voluntary liquidation on 23 November 2012, prior to
being dissolved on 21 October 2014. The deficiency as regards
creditors was approximately GBP2.6million.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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