23rd May 2008 15:25
Wichford P.L.C.
("Wichford" or the "Company")
Directorate Change
23 May 2008
Wichford P.L.C., the property investment company, is pleased to announce the appointment of Wolf Cesman to the Company's Board as a Non-executive Director on 22 May 2008.
Wolf Cesman (66), a South African national, has been involved in most aspects of property development, management and property asset management for over 40 years. Mr. Cesman worked for 24 years with Liberty Life, one of the largest life insurance companies in South Africa. This included 17 years as managing director of Liberty Properties, then one of the largest property owners in South Africa and he retired from the company in 2000.
After his retirement, Mr. Cesman was a co-founder of what is now called Madison Property Fund Managers and was instrumental in the listings of ApexHi Properties Limited and Redefine Income Fund Limited on the Johannesburg Stock Exchange ("JSE"), and the growth of Hyprop Investments Limited.
Madison Property Fund Managers, of which Mr. Cesman is a director and major shareholder, was listed on the JSE in July 2006 and currently has in excess of ZAR25 billion of real estate assets (retail, commercial, industrial and hotel) under management, which have been accumulated during the past 8 years.
Philippe de Nicolay, Non-executive Chairman of Wichford, commented:
"I am delighted to welcome Wolf Cesman to the Board of Wichford. His long expertise in property makes him a valuable addition to the Board and we look forward to working closely with him."
Declaration:
Mr. Cesman is a director of CIREF Limited, the AIM listed property investment company managed by Corovest Fund Managers, which together with other members of the Corovest Group currently has a shareholding in Wichford P.L.C. of 4.67%.
Corovest Fund Managers (UK) Limited, a UK based property fund management company, holds a 50% interest in the Company's Property Adviser, Wichford Property Management Limited.
Enquiries:
Wichford P.L.C.
Philippe de Nicolay 00 33 1 40 74 42 79
Ita McArdle 01624 625632
Citigate Dewe Rogerson 020 7638 9571
George Cazenove
Hannah Seward
Evolution Securities 020 7071 4300
Jeremy Ellis/Neil Elliot
Notes to editors
Wichford P.L.C. (UK Listed:WICH) is a property investment company, with a portfolio focused on investment property occupied exclusively by Central and State Government bodies. Approximately a quarter of the portfolio comprises public sector rented properties in Germany, the Netherlands and France.
Disclosure of Directorships
Save for the declarations below there are no disclosures to be made in respect of the appointment of Wolf Cesman under the Listing Rules of the London Stock Exchange.
Current and past directorships held in other quoted companies in previous 5 years
Madison Property Fund Managers ApexHi Properties Limited
Redefine Income Fund Limited
Hyprop Investments Limited
Related Shares:
RDI.L