HELLABY HOLDINGS APPOINTS THIRD NEW DIRECTOR
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Hellaby Holdings Limited (HBY) | 4:30 pm, Monday 6 October 2008 | HBY | 1.350 |
 -0.100 |
(-6.90%) |
6 October 2008
HELLABY HOLDINGS SUBSTANTIALLY CHANGES BOARD COMPOSITION WITH APPOINTMENT OF THIRD NEW DIRECTOR
Hellaby Holdings Limited today announced that James Sclater has been appointed to the board of the company as a non-executive director. This is the third new director appointment in a board succession process which began in April 2008.
James Sclater is currently chairman of the management board of Grant Thornton (Auckland) Limited. He is a chartered accountant, and has a Bachelor of Commerce degree.
Mr Sclater will be associated with the Hugh Green Trust, the ultimate beneficiary of Hellaby Holdings’ major shareholder. Hugh Green, who retires as a director effective today, has been appointed by the Hellaby Holdings board as alternate director to Mr Sclater. The Hugh Green Trust retains its shareholding in Hellaby Holdings.
Hellaby Holdings chairman Bill Falconer said that the board was very pleased to secure Mr Sclater, whose wealth of financial and SME experience would be a major asset to the company. This latest appointment, together with the appointments of John Maasland and Steve Smith in April and September respectively, substantially changes the board composition, in line with previous advice to the market.
As a result of the recent board succession process, the size of the Hellaby board now increases from six to seven directors. The board now consists of a non-executive chairman and five non-executive directors, as well as the managing director.
In late September the company issued its Notice of Meeting in respect of the 30 October 2008 Annual General Meeting. In light of this latest director appointment, a further updated Notice will be issued later this week, including a further resolution in respect of Mr Sclater’s appointment which will be put to the meeting of shareholders.
ENDS
For further information please contact:
Bill Falconer
Chairman – Hellaby Holdings Limited
Phone: 021 939 520
Richard Jolly
Company Secretary – Hellaby Holdings Limited
Phone: 09 – 307 6844
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