Directorate Change

NORTHACRE PLC (the ''Company'' or ''Group'')

Directorate Change

19th April 2012

Northacre PLC announces that as of 23rd April 2012 Ken MacRae will become CEO for the Northacre Group. Klas Nilsson will continue as Executive Chairman. Ken MacRae joined Northacre in June 2011 and has been working closely with Klas Nilsson since then to transition into the role of CEO. He will continue with his duties as FD alongside the CEO role for the time being.

Reporting to the Board, Ken MacRae will be accountable for leading the strategic development and management of Northacre.

As Executive Chairman Klas Nilsson will work closely with the CEO, assisting to guide the Company and maintain its position as one of London's leading prime residential developers. 

Klas Nilsson said "We are looking forward to having Ken leading the team forward towards what promises to be a very exciting next chapter for Northacre in continuing to develop the brand".

Enquiries:

Northacre PLC

Klas Nilsson (Executive Chairman)

Ken MacRae (Chief Executive & Finance Director)

020 7349 8000

Hudson Sandler Ltd

Michael Sandler

020 7796 4133

Peel Hunt LLP (Nominated adviser and broker)

Capel Irwin

Harry Florry

020 7418 8900