EIH PLC Directorate Change (8233P)
October 07 2013 - 2:00AM
UK Regulatory
TIDMEIH
RNS Number : 8233P
EIH PLC
07 October 2013
EIH plc
Non-Executive Director Appointment
The Board of EIH plc ("EIH" or the "Company") announces that
Paul Garnett has today been appointed as a Non-Executive Director
of the Company. Brett Miller will step down from the Board with
immediate effect and will remain as a consultant to EIH.
Paul has over 20 years' experience in closed end funds. Having
achieved a First Class degree in Banking and International Finance
at City University, Paul began his career in 1992 and spent 9 years
covering closed end funds from the sell side with Credit Lyonnais
and latterly Merrill Lynch, which included a period based in the
US.
Paul moved to the buy-side when joining Millennium Partners LP
in 2006 and was a founding member of Ironsides Partners in 2010
where he is a portfolio manager responsible for an event driven
strategy with particular emphasis on closed end funds and
alternative asset classes.
Ironsides Partners LLC is interested in 18.91% of the issued
share capital of the Company.
Rhys Davies, Chairman of EIH, commented:
"Since 17 May 2010 when Brett Miller, Ramanan Raghavendran and
myself were appointed as the new Board, we have worked to deliver
on the Company's new investment policy, which was unanimously
approved by shareholders on 28 June 2010. This has resulted in the
return of 23 cents per share in cash to shareholders (in the form
of capital distributions of approximately $15m), the reduction of
the Company's capital commitments from $12.6m to a position where
the Company has effectively no further commitments, resolved
litigation in favour of the Company, and significantly lowered the
Company's cost base. I would like to thank Brett for the very
significant part he has played in this effort and I am pleased that
the Company will retain his expertise and experience as a
consultant".
As we welcome Paul to the Board, we believe he will make an
excellent addition at this time as the Company continues its
delivery on the investment policy."
Paul Mark Garnett, aged 42, has in the last five years, and
continues to be, a Director of the following companies:
Ironsides Partners UK Limited
Save as set out above, there is no information specified by
paragraph (g) in Schedule Two to the AIM Rules that is required to
be disclosed.
For further information please contact:
EIH plc
Rhys Davies
Chairman
Tel: +41 (0)79 620 0215
Nplus 1 Singer Advisory LLP
(Nomad and Broker)
James Maxwell/Nick Donovan
Tel: +44 (0)207 496 3000
This information is provided by RNS
The company news service from the London Stock Exchange
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