1st Jun 2011 11:19
European Islamic Investment Bank plc
("EIIB")
Board changes
1 June 2011
EIIB is pleased to announce the appointment of Michael Willingham-Toxvaerd and Zulfi-Caar Hydari as non-executive directors of EIIB. Pending approval of the FSA neither Mr Toxvaerd or Mr Hydari will undertake any activities, in relation to EIIB, which would otherwise require the approval of the FSA.
Mr Toxvaerd is Chief Investment Officer of HBG Holdings, a leading UK private equity firm serving high net worth private and institutional clients in the Arabian Gulf. He has more than 15 years of experience founding, operating, acquiring, integrating and leading a variety of businesses in private equity and public markets at board and senior management level. Mr Willingham-Toxvaerd was most recently Founder, CEO and Deputy Chairman of NeutraHealth plc, an AIM listed company. He holds an MBA from Cranfield School of Management.
Mr Hydari is Chief Executive Officer of HBG Holdings. Mr Hydari is an activist investor with 16 years experience focused primarily on special situations, PIPEs and business turnarounds. He has held leadership positions in portfolio entities and has transacted business with leading multinationals and government institutions. Mr Hydari has significant expertise in raising investment capital from high net worth private and institutional clients in the GCC. He is Co-Chairman of British Conservatives Abroad (Dubai and Northern Emirates) and is a member of the Middle East Advisory Panel of the Corporate Finance Faculty, part of the Institute of Chartered Accountants in England & Wales. Mr Hydari holds an MBA from the Cranfield School of Management.
EIIB further announces that George Morton and Salman Abbasi resigned from the board on Friday 27 May 2011.
Shabir Randeree, Chairman, commented:
"The board would like to thank both George and Salman for their invaluable contribution to EIIB. They were members of the EIIB board from its infancy and instrumental in setting the very strong foundations on which EIIB finds itself now. They leave the board having put in place new management and a revised strategy that is already showing positive results for EIIB and its shareholders.
I am also delighted to welcome Michael Toxvaerd and Zulfi-Caar Hydari to the board and look forward to their contribution to EIIB's continued success."
Enquiries:
EIIB Shabir Ahmed Randeree, Chairman Subhi Benkhadra, Chief Executive Officer Keith McLeod, Finance Director and Deputy Chief Executive Officer
| +44 20 7847 9900 |
Arbuthnot Securities Limited Nick Tulloch Rebecca Gordon
| +44 20 7012 2000 |
Fishburn Hedges Michelle James Andrew Marshall
| +44 20 7839 4321 |
AIM Rules Schedule 2 Disclosure - for the purposes of paragraph (g) of Schedule 2 of the AIM rules, the following information is disclosed:
Full name: Michael Willingham-Toxvaerd
Age: 36
Mr Toxvaerd holds or has held the following directorships within the last 5 years:
Current Directorships | Past Directorships over last 5 years |
HBG Holdings UK LLP PAF Ventures Limited PAF Entertainment Limited HBG Small Cap SPV 1 Limited HBG Small Cap 2 LTD HBG Small Cap 3 LTD HBG Small Cap 4 LTD
| Neutrahealth plc Biocare (Holdings) Limited Biocare International Limtied Biocare Limited Brunel Healthcare Limited Nutrahealth Limited Perrigo Pharma Limited Totally Nourish Limited Brunel Healthcare Manufacturing Limited Netural Wellbeing Limited Aquacell International Limited Biocare 2000 Limited Biocare Agricultural Supplies Limited Biocare Clinics Limited Biocare Dental Supplies Limited Biocare Enterprises Limited Biocare Euorpe Limited Biocare Group Limited Biocare Health & Beauty Limited Biocare Laboratories Limited Biocare LIPID Nutrition Limited Biocare Medicals Limtied Biocare Nutrition Limited Biocare Pharmaceutical Supplies Limited Biocare Pharmacies Limited Biocare Scientific Limited Biocare Sports Nutrition Limited Biocare Veterinary Supplies Limited Biopet Limited Biovet Limited Cellguard Limited Duocap Limited Duocaps International Limited Oncovite Limited Pharmaguard Limited Nutrahealth UK Limited Bg2zero Ltd |
As at the date of his appointment, Mr Toxvaerd was interested in no ordinary shares in the EIIB share capital.
No further disclosures are required to be made in relation to Mr Toxvaerd under Schedule 2 (g) (iii) - (viii) of the AIM rules.
Full name: Zulfi-Caar Hydari
Age: 37
Mr Hydari holds or has held the following directorships within the last 5 years:
Current Directorships | Past Directorships over last 5 years |
HBG Investment Holdings Limited HBG Management Partners Limited HBG Holdings Limited HBG Marketing Limited HBG General Partners Limited HBG Small Cap SPV 1 Limited HBG Small Cap 2 LTD HBG Small Cap 3 LTD HBG Small Cap 4 LTD HBG Special Opportunities Fund 1 GP Limited
| Muscat Finance Company Limited HBG Ventures Inc Neutrahealth Plc |
Mr Hydrai was a director of Delco Creative Services Limited within 12 months of the company being placed into creditors' voluntary winding up. Liquidators were appointed on 19/09/2002. There was a shortfall to creditors of £175,604.
As at the date of his appointment, Mr Hydari was connected with HBG Management Partners Limited (as defined under section 254 of the Companies Act 2006) which indirectly holds 242,133,802 ordinary shares in EIIB, being a 13.71% was interested in the EIIB share capital.
No further disclosures are required to be made in relation to Mr Hydari under Schedule 2 (g) (iii) - (viii) of the AIM rules.
Related Shares:
Rasmala