Directorate Change

RNS Number : 4493Z

Terrace Hill Group PLC

21 July 2008

 



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: [phone]
Robert Adair, Executive Chairman

Philip Leech, Chief Executive

Oriel Securities Limited                          Tel: [phone]
Richard Crawley / Luke Webster

Financial Dynamics                                 Tel: [phone]
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.

 

END

 

 

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