24th Apr 2006 09:43
Hansteen Holdings plc24 April 2006 24 April 2006 RICHARD MULLY JOINS HANSTEEN BOARD Hansteen Holdings plc ("Hansteen") (AIM: HSTN.L) the recently listed propertycompany formed by Morgan Jones and Ian Watson, founders and former directors ofAshtenne Holdings, announces the appointment to its Board of Richard StephenMully as a non-executive director with immediate effect. Mr. Mully, aged 44, is Managing Partner of Grove International Partners LLP("Grove"), where he has responsibility for the team's investment strategy andmanagement in Europe. Grove is an independently owned investment advisory groupcomprised of the former members of Soros Real Estate Investors CV global fundand the recently formed $1.2 billion Cypress Grove International LP global fund,together with other Soros related real estate investments. Prior to joining Soros in 1999, Mr. Mully was the Chief Executive Officer ofEuropean Property Partners Limited and a Managing Director and Head of EuropeanMerchant Banking for Prudential Insurance Company of America ("PRICOA"). Priorto PRICOA, Mr. Mully was a Partner and Managing Director of Bankers TrustCompany ("BT"). He founded and headed BT's European Real Estate InvestmentBanking Group in 1992 and was responsible for the management of all aspects ofthis business until 1998. Current directorships include: MedGroup S.ADolce InternationalApellas Property Management GmbHSpazio Industriale BVLohnbach Investment PartnersCaptiva Holdings LPOlivers Wharf (Management) Limited Previous directorships, held in the last five years, include: Mapeley Holdings Ltd resignedSafestore plc resignedEuroplex BV resignedHellenic Land Holdings BV resigned James Hambro, Chairman of Hansteen said: "Richard is widely known and respectedwithin the real estate sector and has a great depth and breath of experiencethroughout Europe. His expertise will be invaluable to the Board". There is no further information required to be disclosed under schedule 2 (g) ofthe AiM Rules. For further information:Morgan Jones /Ian Watson Jeremy Carey/Richard SunderlandHansteen Holdings plc Tavistock CommunicationsTel: 020 7016 8820 Tel: 020 7920 3150 Notes to Editors: Hansteen Holdings PLC is a property company formed by Morgan Jones and IanWatson, the founders and former directors of Ashtenne Holdings PLC. Hansteenraised £125 million on its flotation on AIM in November 2005, which was 3x oversubsrcibed. Hansteen focuses on investing in industrial properties in Continental Europe,which have higher yields, cheaper financing costs, and greater opportunity forvalue improvement through asset management than can be achieved currently in theUK. It will also seek to profit from opportunistic acquisitions in otherproperty sectors both in the UK and abroad. The Company made its first acquisitions in December 2005, purchasing circa £50million of industrial/distribution property in the Netherlands and Germany infour separate transactions. Hansteen (AIM: HSTN) has a market capitalisation of around £155 million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSTN.L