Appointment
31 May 2006 - 5:01PM
UK Regulatory
RNS Number:7905D
Bulgarian Property DevelopmentsPLC
31 May 2006
FOR RELEASE 7.00am 31 May 2006
BULGARIAN PROPERTY DEVELOPMENTS PLC
(''Bulgarian Property Developments'' or "the Group")
(The Group is primarily focussed on the development of commercial property and
in particular building pre-let warehousing, distribution centres and offices in
Bulgaria)
Keith Springall appointed as Finance Director
Bulgarian Property Developments, the company focused on the development of
commercial property in Bulgaria, announces that Keith Springall F.C.A has today
been appointed Finance Director.
Keith Springall, age 50, brings great experience to the board having served
previously as Finance Director of Bartercard plc, the global business to
business trade exchange which acts as a facilitator and marketplace for barter
transactions and Indus International Limited, the UK subsidiary of the NASDAQ
quoted software and services company. Earlier in his career, he worked for
Jardine Matheson subsidiaries in Asia and Australia.
Christian Williams, the Chairman of Bulgarian Property Developments, commented:
"We are delighted that Keith Springall has joined the board. Keith, with his
financial skills and international experience will complement and strengthen an
already excellent management team."
Save as disclosed below, there are no further details required to be disclosed
pursuant to schedule 2 (g) of the AIM rules
Keith John Springall, F.C.A, age 50
Other Directorships
Current Within the last five years
Belahray Consultancy Ltd Indus International Limited
Molecob Limited PST (International) Limited
WFMH UK Limited Bartercard plc
Keith Springall resigned from PST (International Limited ("PST") in February
2004. PST and its subsidiaries were placed in administration in June 2004 and
are now in liquidation.
Enquiries:
Bulgarian Property Developments
Ivo Hesmondhalgh (Joint Chief Executive) +44 (0) 20 7243 1336
Cubitt Consulting
Brian Coleman-Smith / Nia Thomas / Allison Reid +44 (0) 20 7367 5100
Notes to Editor:
Bulgarian Property Developments:
Bulgarian Property Developments floated on AIM in January 2005, raising #4.2
million net. A further #32.9 million net was raised in January 2006. Bulgarian
Property Developments is primarily focused on commercial property development as
opposed to residential. Inheritance Laws in Bulgaria have given rise to
fragmented land ownership. There are therefore considerable difficulties in
assembling commercially viable sites exist. Bulgarian Property Developments has
taken advantage of this opportunity to consolidate small land plots into larger
ones for commercial development. The company has already negotiated ownership of
33 plots and the majority have been consolidated into four sites for commercial
development. A strong management team with cultural knowledge and connections in
Bulgaria has facilitated such negotiations.
Background on the Bulgaria and the Property Market:
Bulgaria is in a transitional period, moving from a command to a market economy.
Bulgaria has applied to join the European Union in 2007, which should be
favourable for the Bulgarian property market. The Bulgarian economy is growing
strongly and Bulgaria is a politically stable country. It continues to develop
with GDP growth estimated for 2005 of 5.4%.
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAEAXSEDAKKEFE
Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bulgarian Property Developments (LSE:BPD)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Bulgarian Prop. (London Stock Exchange): 0 recent articles
More Bulgarian Property News Articles