Northacre PLC Directorate Change (8188Y)
February 27 2013 - 9:40AM
UK Regulatory
TIDMNTA
RNS Number : 8188Y
Northacre PLC
27 February 2013
27 February 2013
Northacre PLC
("Northacre" or the "Company")
Board Changes
The Company is today pleased to announce that Jassim Alseddiqi
and Mustafa Kheriba have been appointed as directors of the
Company.
Messrs Alseddiqi and Kheriba are the only two directors of
Spadille Limited ("Spadille"), which made a recommended mandatory
cash offer to acquire the entire issued and to be issued share
capital of Northacre on 7 February 2013. On 15 February 2013,
Spadille announced that it then held or had valid acceptances of
the offer in respect of 50.49% of the Company's issued share
capital and that the offer was declared unconditional in all
respects. Spadille is 100% owned by Abu Dhabi Capital Management
LLC ("ADCM").
Jassim Mohammed RMS Alseddiqi Alansaari, 28, is the Chief
Executive Officer of ADCM which he established in January 2011. Mr
Alseddiqi joined Abu Dhabi Capital Group in 2006 and became Chief
Executive Officer in 2008, managing global assets including public
equities, hedge funds, fixed income, private equity and real
estate. Mr Alseddiqi played an integral part in establishing
several reputed financial services firms in the United Arab
Emirates, and was instrumental in setting up Al Nahda Investments,
Reem Finance (where he served on the board from 2006 to 2010) and
Essdar Capital (where he served on the board from 2007 to 2010). Mr
Alseddiqi received his Masters of Science degree in Electrical
Engineering from Cornell University, and has several publications
in international engineering journals.
Mustafa Ghazi Kheriba, 38, has been Chief Operating Officer of
ADCM since July 2011 and is directly responsible for the day to day
operations and financials of ADCM and is also responsible for
origination, deal sourcing, fund raising, due diligence and
corporate compliance. Prior to ADCM, Mr Kheriba was Vice President
of Operations and Investment Management at Brainnox Investment
Group and Vice President of Operations at Global Investment
Council. Mr Kheriba has an MBA from Ohio Dominican University, and
a BA from the University of Toronto.
The following information is disclosed pursuant to Rule 17,
Schedule Two (g) of the AIM Rules.
Director Current Appointments Previous Appointments
----------------- ---------------------------------- -------------------------------
Jassim Alseddiqi Abu Dhabi Capital Group Reem Finance JSC
LLC Essdar Capital (DIFC)
Candle One Ltd Ltd.
AD Cap Manage Ltd Dnata Travel Abu Dhabi
Abu Dhabi Capital Management LLC
LLC Mobile Telecom Group
Abu Dhabi Capital Management LLC
(DIFC) Ltd Injaz Mena Investment
ADCM SPEF GP Ltd Company
Bayswater One Ltd Khidmah Property Management
SPE Qannas B Ltd LLC
SPE Qannas C Ltd First Gulf Financial
MJS International Trading Services LLC
LLC Emirates Buildings
Emirates Buildings Establishment Establishment PJSC
Qannas Investment Limited Al Dhabi Investment
Spadille Ltd Company PJSC
JLA International LLC
Galaxy Building Materials
LLC
Acosta Investments
Ltd.
Optimo Commercial Investments
Ltd.
----------------- ---------------------------------- -------------------------------
Mustafa Kheriba AD Cap Manage Ltd
ADCM SPEF GP Ltd
SPE Qannas B Ltd
SPE Qannas C Ltd
Abu Dhabi Capital Management
(DIFC) Ltd
ADCM Ltd (Cayman)
Bayswater Limited
Spadille Limited
----------------- ---------------------------------- -------------------------------
Jassim Alseddiqi is interested, indirectly, in 50.49% of the
share capital of the Company. Jassim's interest is through ADCM, of
which he is a director and controller, and which holds 100% of
Spadille. Jassim also has a 15% beneficial interest in ADCM, which
may increase or decrease in the future. Mustafa Kheriba holds no
direct or indirect interest in the share capital of the
Company.
Enquiries:
Northacre PLC
Ken MacRae (Chief Executive Officer & Finance Director)
Klas Nilsson (Chairman)
Tel: (020) 7349 8000
Daniel Stewart & Company
Antony Legge
James Thomas
Tel: (020) 7776 6550
Hudson Sandler Ltd
Michael Sandler
Tel: (020) 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
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