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15 September 2011
NORTHERN INVESTORS COMPANY PLC
The board of Northern Investors Company PLC (the “Company”) announces that Peter Haigh has retired as chairman and as a director of the Company with effect from 15 September 2011. Mr Haigh had intended to step down as chairman after the Company’s continuation vote in 2012 but has decided to bring his retirement forward as the 2012 vote has been removed as part of the Company’s recent move to an orderly realisation strategy. Mr Haigh was appointed to the board of the Company in 1987 and has been chairman since 2005. The board would like to thank Mr Haigh for his outstanding dedication and significant contribution to the Company over the last 24 years and wishes him well in the future.
In light of Mr Haigh’s retirement and in order to best implement the realisation strategy approved by shareholders on 21 July 2011 the board of directors has decided to appoint two new directors to the Company. Nigel Guy has joined the board as chairman and Philip Marsden has joined the board as a non-executive director, with both appointments being effective from 15 September 2011. Both Mr Guy and Mr Marsden have spent many years working in a variety of roles in the private equity sector and will bring significant experience to the board in realising private equity assets.
Mr Guy is non-executive chairman of FRP Advisory LLP and The Cornhill Partnership Limited, a non-executive director of CLVC Group Limited and a board member of the Corporate Finance Faculty of the Institute of Chartered Accountants in England and Wales. He has considerable experience of private equity having spent over 20 years in the industry holding leadership positions principally at 3i plc, where he spent almost 13 years and as deputy managing director of Baird Capital Partners Europe Limited. Mr Guy currently holds board positions in a number of businesses where there are significant financial stakeholders including private equity investors. There is no further information to be disclosed in relation to Mr Guy under Listing Rule 9.6.13R.
Mr Marsden is a non-executive director of TP70 2008(I) VCT plc and is a founding partner of Marsden Clark LLP, a provider of independent corporate finance advice to corporate clients. Mr Marsden has specialised for many years in the realisation of individual investments and portfolios of private equity investments. He qualified as a Chartered Accountant and then spent 5 years at Arthur Andersen before moving to 3i Group plc where he worked for 22 years, becoming a director of 3i plc and manager of the portfolio development team. Mr Marsden left 3i Group plc in 2002 and has subsequently worked at Vision Capital Limited, Vantis Corporate Finance Limited, where he was Managing Director and RSM Tenon plc, where he was director of corporate finance. Vantis Corporate Finance Limited, and the group of which it formed part, went into administration on 29 June 2010, shortly after its business was acquired by its directors and they joined RSM Tenon plc. There is no further information to be disclosed in relation to Mr Marsden under Listing Rule 9.6.13R.
Tim Levett/Christopher Mellor, NVM Private Equity Limited – 0191 244 6000
Joe Winkley/Neil Winward, Oriel Securities Limited – 0207 710 7600
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Source: Northern Investors Co PLC via Thomson Reuters ONE