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GENERATION DEVELOPMENT GROUP LIMITED — Board/Management Information 2011
Dec 19, 2011
64973_rns_2011-12-19_37a127e1-3fad-4d9e-b4dc-a7021f1ff442.pdf
Board/Management Information
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ASX Announcement
20 December 2011
Appointment and Resignation of Non-Executive Directors
Austock Group Limited (ASX:ACK) announces that Mr Martin Ryan has today been appointed as a non-executive director of the Company, effective immediately.
Mr Ryan is a founder, former director and substantial shareholder of Austock. He graduated from the University of Melbourne with a Bachelor of Commerce and has over 35 years industry experience in stockbroking and funds management. Mr Ryan is presently an executive director of Mutual Ltd, a specialist funds management business, and advises to Austock Life Limited as its Investment Manager.
Commenting on Mr Ryan’s appointment, Austock’s Chairman, Mr Steven Gregg said: “I am delighted to welcome Martin back to the Board of Austock and look forward to working closely with him. Martin has extensive experience in this industry and is expected to make a significant contribution to the Board.”
Coinciding with Mr Ryan’s appointment, Mr Kevin Clarke has decided to immediately step down from the Board. Mr Clarke has served as an independent director for over 2 years and the Board thanks him for his counsel and commitment during this period.
These changes to the Board composition of Austock Group are in recognition of the differing skill sets required to lead the Group into 2012, following the Company’s announcement yesterday that it proposes to dispose of its Austock Securities businesses.
Austock announced on 28 November 2011 that it had received a request from shareholders to call a general meeting for the purpose of considering resolutions for the election and removal of directors. As a consequence of Mr Ryan’s appointment, the requisitioning shareholders have withdrawn their request for the general meeting.
Steven Gregg Chairman
For further information please contact: Investor Relations Department Telephone: +61 3 8601 2633
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Austock Group Limited ABN: 90 087 334 370 Level 12, 15 William Street, Melbourne, Vic 3000 Telephone: 61 3 8601 2000 Facsimile: 61 3 9200 2286 Email: [email protected] Website: www.austock.com