| Thu 6 Mar 2008, 16:18 | | LBT - Liberty International Plc - Change of financ |
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LBT
LILII
LBT - Liberty International Plc - Change of finance director
LIBERTY INTERNATIONAL PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: LBT
Issuer Code: LILI
Change of Finance Director
Aidan Smith is stepping down as Finance Director of Liberty International PLC
with effect from the end of March 2008. In his place, Liberty International has
appointed Ian Durant who will join the group in mid March 2008.
The Chairman of Liberty International, Sir Robert Finch, commented as follows:
"On behalf of Liberty International, I would like to thank Aidan Smith sincerely
for his many years of dedicated service to Liberty International and the
considerable part he has played in Liberty International`s track record of
growth on a sound financial basis. He joined the group in 1986 at an early
stage in its development, became Financial Controller in 1990 and Finance
Director in 1998. We wish him well for the future.
We very much welcome Ian Durant, who has a broad range of highly relevant
experience in a finance director role including both real estate and retail.
We look forward to him making a great contribution to the group`s future
development."
Biographical details of Ian Durant are attached to this announcement.
Enquiries:
Liberty International PLC:
Sir Robert Chairman +44 (0)20 7960 1273
Finch
David Fischel Chief Executive +44 (0)20 7960 1207
Public relations:
UK: Michael Sandler, Hudson Sandler +44 (0)20 7796 4133
Notes to Editors:
Biographical details of Ian Durant
Ian Durant (aged 49) is a Chartered Accountant and Fellow of the Association of
Corporate Treasurers. After 5 years with the retailing division of Hanson PLC
he moved to Hong Kong in 1989 and spent 12 years with the Jardine Matheson
Group, including roles as Finance Director of two UK listed companies, HongKong
Land and Dairy Farm International. He returned to the UK in 2001 and served as
Group Finance Director of Thistle Hotels plc from 2001 to 2003 and latterly as
Chief Financial Officer of SeaContainers until 2007. He is a former non-
executive Director of Westbury, the housebuilder. He is married with three
children.
BACKGROUND ON LIBERTY INTERNATIONAL
LIBERTY INTERNATIONAL PLC is the UK`s third largest listed property company and
a constituent of the FTSE-100 Index of the UK`s leading listed companies.
Liberty International converted into a UK Real Estate Investment Trust (REIT) on
1 January 2007.
Liberty International owns 100 per cent of Capital Shopping Centres ("CSC"), the
premier UK regional shopping centre business, and of Capital & Counties, a
retail and commercial property investment and development company.
At 31 December 2007, Liberty International owned GBP8.6 billion of properties of
which UK regional shopping centres comprised 75 per cent and retail property in
aggregate 88 per cent. Shareholders` funds and minority interests amounted to
GBP4.7 billion. Assets of the group under control or joint control amounted to
GBP11.0 billion at that date.
CAPITAL SHOPPING CENTRES has interests in 14 UK regional shopping centres
amounting to 12.6 million sq.ft. in aggregate including 8 of the UK`s top 21
regional shopping centres with a market value of GBP6.5 billion at 31 December
2007. CSC`s largest centres are Lakeside, Thurrock; MetroCentre, Gateshead;
Braehead, Renfrew, Glasgow; The Harlequin, Watford; and Manchester Arndale. In
addition, CSC has three major development projects in progress or with planning
permission in Cardiff, Newcastle and Oxford.
CAPITAL & COUNTIES owned assets of GBP2.2 billion at 31 December 2007 amounting
to 7.2 million sq.ft. in aggregate. Capital & Counties had GBP664 million
invested in the Covent Garden area including the historic Covent Garden Market,
and GBP353 million in Central London, primarily through the Great Capital
Partnership, a joint venture with Great Portland Estates plc. Capital & Counties
acquired 50 per cent of EC&O Venues (Earls Court and Olympia Group) in 2007 for
a sum that valued the assets at approximately GBP375 million. In addition,
Capital & Counties has interests in the USA amounting to GBP381 million (2.7
million sq.ft.), predominantly comprising retail assets in California, including
the 856,000 sq.ft. Serramonte Shopping Centre, Daly City, San Francisco.
Date: 06/03/2008 16:18:13 Produced by the JSE SENS Department.
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