21st Jul 2008 07:00
21 July 2008
Terrace Hill Group plc
("Terrace Hill" or the "Group")
TERRACE HILL APPOINTS JON AUSTEN AS FINANCE DIRECTOR
Terrace Hill Group plc (AIM: THG), a leading UK property development and investment group, is pleased to announce the appointment of Jonathan ('Jon') Martin Austen as Finance Director. The appointment is effective from 1 September.
Jon, 52, joins from the Goodman Group, where he was Chief Financial Officer (UK) following the company's acquisition of Arlington Securities in May 2006. With approximately €10.9 billion of assets, the Goodman Group is one of the world's largest integrated property corporations. From 2004 to 2006, Jon was Chief Operating Officer at Arlington which, prior to its acquisition, had established itself as one of Europe's foremost independent property investment and services companies.
Prior to this, Jon was Chief Financial Officer at Pricoa Property Plc, the holding company for Prudential Financial Inc's £2.5 billion European property fund management business.
Following Mr. Austen's appointment, Tom Walsh, the Group's current Finance Director, will step down from the Board on 1 September and will take up the new role of Deputy Finance Director.
Commenting on the appointment, Robert Adair, Executive Chairman, Terrace Hill, said:
"Terrace Hill is at an exciting stage in its evolution, with its £1.2 billion development and investment programme offering considerable potential to drive growth and create value for our shareholders. We are, therefore, delighted to be further strengthening our senior management team through Jon's appointment and we are confident that we will benefit greatly from his strong sector expertise which covers all aspects of the commercial property investment and development market. He is a great fit for the business and we look forward enormously to working with him at a time when we see the currently deteriorating property market creating opportunities for the company.
"I would like to thank Tom for his invaluable contribution to the Group over the past years and am delighted that we will continue to benefit from his expertise going forward."
Jon Austen, Finance Director, Terrace Hill, added:
"Terrace Hill is a fascinating and diversified company with a strong and determined management team focused on delivering results. I look forward very much to working with Robert and the Terrace Hill team to ensure the Group's continued growth over the coming years."
Jon Austen is and has been Director of the following companies and organisations in the last five years.
Current Directorships:
Name Position Appointed
API UK BALANCED FUND ASSET COMPANY LIMITED Director 21/07/2005
Arlington Holdings (Jersey) Limited Director 30/08/2006
Arlington Property Investors UK Limited (struck off) Director 24/08/2005
Arlington UK Balanced Property Fund Public Limited Company Director 21/07/2005
Director 30/09/2006
Goodman Brackmills (Jersey) Limited Director 05/09/2006
Goodman Burton (Jersey) Limited Director 13/12/2006
Goodman Citadel (Jersey) Limited Director 13/12/2006
Goodman Coventry (Jersey) Limited Director 07/02/2007
Goodman Desborough (Jersey) Limited Director 13/12/2006
Goodman Edinburgh (Jersey) Limited Director 31/08/2006
Goodman Ellesmere Port (Jersey) Limited Director 29/09/2006
Goodman Finance (Jersey) Limited Director 30/08/2006
Goodman Gloucester (Jersey) Limited Director 05/09/2006
Goodman Invest Management (UK) Limited Director 30/09/2006
Goodman Logistics (Jersey) Limited Director 30/08/2006
Goodman Maltby (Jersey) Limited Director 05/09/2006
Goodman Office (Jersey) Limited Director 30/08/2006
Goodman Property Holdings (Jersey) Limited Director 30/08/2006
Goodman Property Investors Limited Director 06/04/2005
Goodman PSCP Limited Director 30/09/2006
Goodman Real Estate Investment Management (UK) Limited Director 01/11/2006
Goodman Real Estate Investors Operations (UK) Limited Director 30/09/2006
Goodman Real Estate Investors UK Operations Limited Director 30/09/2006
Goodman Real Estate Unit Trust Managers Limited Director 30/09/2006
Goodman South Normanton (Jersey) Limited Director 05/09/2006
Goodman West Thurrock (Jersey) Limited Director 05/09/2006
MG Regent Residential (Jersey) Limited Director 04/12/2006
Property Partners (Two Rivers) Limited Director 30/09/2006
Property Partners (Whitgift) Limited Director 30/09/2006
Property Partners (Whitgift) No.2 Ltd Director 30/09/2006
Regent Property Partners (Retail Parks) Limited Director 30/09/2006
Regent Retail Parks (Newcastle) Limited Director 11/01/2007
Regent Retail Parks (St John's Wolverhampton) Limited Director 30/09/2006
Whitgift Shopping Centre Nominee Ltd Director 30/09/2006
Barry Austen Trade Limited Director 03/02/1983
Goodman Arena (Jersey) Limited Director 05/09/2006
MG (Leatherhead) Limited Director 05/09/2006
MG (Stockley Park) Limited Director 05/09/2006
South Downs Property Developments Limited Director 01/12/1997
Two Rivers One Limited Director 17/08/2005
Two Rivers Two Limited Director 17/08/2005
Directorships in the past five years:
Name Appointed Resigned
ABPGP 1 LIMITED 30/09/2006 28/05/2008
ABPGP 10 LIMITED 30/09/2006 28/05/2008
ABPGP 2 LIMITED 30/09/2006 28/05/2008
ABPGP 3 LIMITED 30/09/2006 28/05/2008
ABPGP 4 LIMITED 30/09/2006 28/05/2008
ABPGP 5 LIMITED 30/09/2006 28/05/2008
ABPGP 6 LIMITED 30/09/2006 28/05/2008
ABPGP 7 LIMITED 30/09/2006 28/05/2008
ABPGP 8 LIMITED 30/09/2006 28/05/2008
ABPGP 9 LIMITED 30/09/2006 28/05/2008
ABPGP S1 LIMITED 30/09/2006 28/05/2008
ABPGP S2 LIMITED 30/09/2006 28/05/2008
Ancosec Limited 30/09/2006 28/05/2008
API (no 1) Limited 30/09/2006 28/05/2008
API (no 10) Limited 07/10/1998 18/11/1998
30/09/2006 28/05/2008
API (no 11) Limited 30/09/2006 08/05/2008
API (no 12) Limited 30/09/2006 28/05/2008
API (no 14) Limited 30/09/2006 28/05/2008
API (no 15) Limited 30/09/2006 28/05/2008
API (no 16) Limited 30/09/2006 28/05/2008
API (no 17) Limited 30/09/2006 28/05/2008
API (no 18) Limited 30/09/2006 28/05/2008
API (no 19) Limited 30/09/2006 28/05/2008
API (no 2) Limited 30/09/2006 28/05/2008
API (no 20) Limited 30/09/2006 28/05/2008
API (no 21) Limited 30/09/2006 28/05/2008
API (no 22) Limited 30/09/2006 28/05/2008
API (no 23) Limited 30/09/2006 28/05/2008
API (no 24) Limited 30/09/2006 28/05/2008
API (no 25) Limited 30/09/2006 28/05/2008
API (no 26) Limited 30/09/2006 28/05/2008
API (no 27) Limited 30/09/2006 28/05/2008
API (no 28) Limited 30/09/2006 28/05/2008
API (no 29) Limited 30/09/2006 28/05/2008
API (no 3) Limited 30/09/2006 28/05/2008
API (no 4) Limited 30/09/2006 28/05/2008
API (no 5) Limited 30/09/2006 28/05/2008
API (no 6) Limited 30/09/2006 28/05/2008
API (no 7) Limited 30/09/2006 28/05/2008
API (no 8) Limited 30/09/2006 28/05/2008
API (no 9) Limited 30/09/2006 28/05/2008
API Focused Funds Management Ltd (liquidated) 30/09/2006 11/09/2007
AUGUSTA 1 LIMITED 30/09/2006 28/05/2008
AUGUSTA 2 LIMITED 30/09/2006 28/05/2008
AZTEC WEST MANAGEMENT LIMITED 30/09/2006 28/05/2008
Birmingham Business Park (Joint Venture) Limited 30/09/2006 28/05/2008
BIRMINGHAM BUSINESS PARK LIMITED 30/09/2006 28/05/2008
BIRMINGHAM BUSINESS PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
BRACKNELL MANAGEMENT LIMITED 30/09/2006 28/05/2008
Central Park Management (2002) Limited 05/03/2007 28/05/2008
Central Quay Management Company Limited 05/03/2007 28/05/2008
Comet Park Management Limited 30/09/2006 28/05/2008
COVENTRY BUSINESS PARK LIMITED 30/09/2006 28/05/2008
COVENTRY BUSINESS PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
Doxford International Management Company Limited 05/03/2007 28/05/2008
East Midlands International Business Park Limited 30/09/2006 28/05/2008
FARNBOROUGH AEROSPACE CENTRE MANAGEMENT LIMITED 30/09/2006 28/05/2008
GLOUCESTER BUSINESS PARK LIMITED 30/09/2006 28/05/2008
GLOUCESTER BUSINESS PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
Goodman 123 Limited 30/09/2006 28/05/2008
Goodman Asset Management (UK) Limited 30/09/2006 28/05/2008
Goodman Business Parks (Reading) Limited 30/09/2006 28/05/2008
Goodman Business Parks (UK) Limited 30/09/2006 28/05/2008
Goodman Business Parks Reading Management (UK) Limited 30/09/2006 28/05/2008
Goodman Business Parks Services (UK) Limited 30/09/2006 28/05/2008
Goodman Business Services (UK) Limited 30/09/2006 28/05/2008
Goodman Development Management (UK) Limited 30/09/2006 28/05/2008
Goodman Development Services (UK) Limited 30/09/2006 28/05/2008
Goodman European Development Services (UK) Limited 30/09/2006 28/05/2008
Goodman European Developments (UK) Limited 30/09/2006 28/05/2008
30/09/2006 28/05/2008
Goodman Fund Management (UK) Limited 30/09/2006 28/05/2008
Goodman Fund Operator (UK) Limited 30/09/2006 28/05/2008
Goodman Henley Developments Limited 30/09/2006 28/05/2008
Goodman Industrial Parks (UK) Limited 30/09/2006 28/05/2008
Goodman Kettering (UK) Limited 30/09/2006 28/05/2008
Goodman LP (UK) Limited 16/10/2006 28/05/2008
Goodman Net Services (UK) Limited 30/09/2006 28/05/2008
Goodman Operations (UK) Limited 30/09/2006 28/05/2008
Goodman Operator (UK) Limited 05/07/2007 27/03/2008
Goodman Project Development (UK) Limited 30/09/2006 28/05/2008
Goodman Project Management (UK) Limited 30/09/2006 28/05/2008
Goodman Real Estate Adviser (UK) Limited 30/09/2006 28/05/2008
Goodman Real Estate Developments (2003) 30/09/2006 19/05/2008
30/09/2006 19/05/2008
Goodman Real Estate Developments (2006) Limited 30/09/2006 28/05/2008
30/09/2006 28/05/2008
Goodman Real Estate Holdings 1993 (UK) Limited 30/09/2006 28/05/2008
Goodman Real Estate Investments (UK) Limited 30/09/2006 28/05/2008
Goodman Real Estate Investors Operations (UK) Limited 21/03/1997 29/08/1997
Goodman Real Estate Management Services (UK) Limited 30/09/2006 28/05/2008
Goodman Real Estate Services (UK) Limited 14/09/1998 22/03/1999
29/04/2005 03/05/2005
30/09/2006 28/05/2008
Goodman Real Estate Services Limited 14/11/2006 28/05/2008
Goodman Science Park LP (UK) Limited 30/09/2006 28/05/2008
Goodman Securities 1998 (UK) Limited 30/09/2006 28/05/2008
Goodman Securities Operations (UK) Limited 30/09/2006 28/05/2008
Goodman Square Bracknell (UK) Limited 30/09/2006 28/05/2008
Goodman UK Limited 30/09/1998 09/10/1998
30/09/1998 02/12/1999
02/12/1999 01/07/2003
30/09/2006 28/05/2008
Goodmanonline Investments (UK) Limited 30/09/2006 28/05/2008
Harbour Properties Limited 30/09/2006 28/05/2008
HATFIELD AERODROME (MANAGEMENT) LIMITED 30/09/2006 28/05/2008
HATFIELD BUSINESS PARK LIMITED 30/09/2006 28/05/2008
HATFIELD BUSINESS PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
KETTERING VENTURE PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
Kingston Business Park Limited 30/09/2006 28/05/2008
Leeds Valley Park Management Company Limited 05/03/2007 28/05/2008
Manchester Airport Business Park Limited 30/09/2006 28/05/2008
Manchester Airport Business Park Management Limited 30/09/2006 28/05/2008
MANCHESTER BUSINESS PARK (PLOT 1500) LIMITED 30/09/2006 28/05/2008
Mill Legacy Holdings Limited 30/09/2006 28/05/2008
MONTPELLIER COURT (GLOUCESTER) MANAGEMENT LTD 30/09/2006 28/05/2008
Oxford Business Park (North) Management Limited 30/09/2006 28/05/2008
OXFORD BUSINESS PARK (PLOT 4000) LIMITED 30/09/2006 28/05/2008
Oxford Business Park (South) Limited 30/09/2006 28/05/2008
Oxford Business Park (South) Management Limited 30/09/2006 28/05/2008
OXFORD BUSINESS PARK LIMITED 30/09/2006 28/05/2008
PARK BUSINESS CENTRES LIMITED 30/09/2006 28/05/2008
PIM UK Investments Limited 22/09/2003 11/06/2004
Pramerica Investment Management Limited 14/07/1999 11/06/2004
Pramerica Real Estate Investors Limited 14/07/1999 27/09/2004
Preston Business Park Limited 30/09/2006 28/05/2008
PRICOA Capital Group Limited 07/11/2003 11/06/2004
PRICOA Capital Management Limited 07/11/2003 11/06/2004
Property Management Employment Services Limited 30/09/2006 28/05/2008
Rainton Bridge Management Company Limited 05/03/2007 28/05/2008
Regent Property Partners (Residential) Limited (company sold) 30/09/2006 31/07/2007
SBP Management Limited 30/09/2006 28/05/2008
Solent Village Management Company Limited 30/09/2006 28/05/2008
STEVENAGE BUSINESS PARK LIMITED 30/09/2006 28/05/2008
STEVENAGE BUSINESS PARK MANAGEMENT LIMITED 30/09/2006 28/05/2008
UXBRIDGE MANAGEMENT COMPANY LIMITED 30/09/2006 28/05/2008
245 Hammersmith Road Investment Limited 30/03/1992 23/05/1994
ADL Ventures Ltd United Kingdom 08/06/1999 29/03/2004
Alltid Limited Director 30/03/1992 23/05/1994
Ardencap Limited Director 30/03/1992 07/09/1994
Ashcroft Retail Investments (Scunthorpe) Limited 30/03/1992 25/05/1995
Pursuant to Rule 17, Schedule Two, Paragraph (g) of the AIM Rules for Companies, the Group confirms that there is no further disclosure required.
For further information, please visit www.terracehill.co.uk or contact:
Terrace Hill Tel: 020 7631 1666Robert Adair, Executive Chairman
Philip Leech, Chief Executive
Oriel Securities Limited Tel: 020 7710 7600Richard Crawley / Luke Webster
Financial Dynamics Tel: 020 7831 3113 Stephanie Highett / Richard Sunderland
Notes to editors
Terrace Hill Group PLC is an AIM-listed property development and investment group with three key divisions:
Commercial development and investment
Residential investment
Housebuilding
Formed in 1986, the company now has four offices in London, Glasgow, Teesside and Bristol, managing a total development and investment programme of some £1.3 billion, a residential investment portfolio of £300 million and a housebuilding landbank in Scotland with potential for over 1,400 residential units.
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