LONDON–(Business Wire)–
Hirco PLC (AIM:HRCO), an investment vehicle for Hiranandani, India`s largest
developer of mixed-use townships and the country`s largest residential builder,
is pleased to announce the appointment of Peter Barge as an additional
non-executive director.
Peter Barge has had a distinguished career in the real estate industry. He had
recently held the positions of Chairman and CEO of Jones Lang LaSalle, Asia
Pacific and Chairman of Jones Lang LaSalle Hotels. He will retire from Jones
Lang LaSalle on 30th June prior to taking up his appointment as non-executive
Director with Hirco.
Peter’s appointment to the board will take effect on 1st July. He will serve on
the remuneration committee and strategy and investment committee and has been
designated to act as the senior non-executive director (as such role is outlined
in the incoming UK Corporate Governance Code).
Commenting on the appointment, Niranjan Hiranandani, Chairman of Hirco Plc said:
“Peter brings a wealth of real estate industry and Asia experience to the board.
He is a well-respected voice in the industry. My colleagues and I look forward
to working with him.”
About Hirco
Hirco PLC is an investment vehicle that invests in India with Hiranandani,
India`s largest developer of prestigious mixed-use townships for the country`s
increasingly affluent middle class. Its modern, large-scale developments -
combining high-quality residential, commercial and retail components with green
space and social and recreational facilities – are strategically located in
suburban areas outside major city centres.
Hirco shares are traded on the London Stock Exchange`s AIM market under the
symbol HRCO. At the time of its admission to trading on AIM in December 2006,
Hirco was the largest-ever real estate investment company IPO on the AIM and
that year`s largest IPO on AIM.
For further information about the Company, please visit www.hircoplc.com.
To view construction progress at Hirco`s Chennai project, please visit
About Peter Barge
An Australian national, Peter Anthony Barge (59) has had a long and varied
career including teaching, consultancy and property management. For the last 20
years he has been associated with Jones Lang LaSalle, starting with the merger
of Transact – a firm founded by Peter – with Jones Lang Wooton (now JLL). He is
a well-respected figure in the real estate industry in Asia. Peter is also the
author of three management books and was the subject of a Harvard Business
School case study. He has won several industry awards, including the Trailblazer
award from the Hotel Investment Conference Asia pacific.
Peter is a director/partner of the following entities:
Barge Investments (Aust) Pty Limited
Past directorships/partnerships in the last five years:
JLL Asia Pacific, JLL Hotels, JLL STK, JLL Australia Pty Limited, IP Group Pty
Limited, Property Look Pty ltd, Sandalwood Pte Ltd, Tatweer Dubai Holdings,
Hero’s Journey Pty Ltd, Jaypoint Pty Ltd, Vengaza Pty Ltd.
There are no further details to be disclosed pursuant to Schedule 2, paragraph
(g) or Rule 17 of the AIM Rules for Companies.
Hirco
Joe DeLuca, +1 610-230-2333
ir@hirco.com
or
Gutenberg Communications
US – Hugh Burnham / Michael Gallo
+1 212-239-8595 / +1 212-239-8594
hugh@gutenbergpr.com / mgallo@gutenbergpr.com
or
UK – Maxine Ambrose, + 44 (0) 7785 280930
maxine@gutenbergpr.com
or
India – Pranav Kumar, +91 98 1007 7898
pranav@gutenbergpr.com
Copyright Business Wire 2010