Interserve Regulatory News (IRV)

20 Jul 2006 11:21

ACQUISITION, ORGANISATIONAL UPDATE AND DIRECTORATE CHANGE Interserve Plc, the services, maintenance and building group, is pleased toannounce that the Scheme to implement its recommended acquisition of MacLellanGroup plc has now been sanctioned by the High Court and is expected to becomeeffective upon the registration by the Registrar of Companies for England andWales of an office copy of the Court Order confirming the reduction of capital.In parallel with the acquisition of MacLellan, Interserve has carried out areview of its current operational and financial reporting structure in order tomaximise the full potential of the business going forward. MacLellan'sfacilities management operations will, together with Interserve's existingFacilities and Industrial Services businesses, form an enlarged facilitiesmanagement business, operating through a single management structure anddelivering integrated services across the full spectrum of public and privatesector clients. This business will be headed by Bruce Melizan, ManagingDirector of Interserve's existing Facilities Services division, reporting toChief Executive, Adrian Ringrose. The new Facilities Services division willreport alongside the existing Project Services and Equipment Servicesdivisions.As a result of these organisational changes, Stewart Hagerty, Managing Directorof Industrial Services, is leaving the Group. The Board wishes to express itsthanks to Stewart for his leadership of the Industrial Services business overthe last six years and wishes him well in the future.Commenting on the acquisition, Chief Executive Adrian Ringrose said: "Theaddition of MacLellan's skills, expertise and market position to Interserve'soutsourcing businesses marks a step change in our development. Together withthe organisational changes we are announcing today, it will position us well tocapitalise further on the significant opportunities we see in each of ourpublic, commercial and industrial markets."For further information please contact:Adrian Ringrose 0118 932 0123 Chief Executive Giles Scott 0118 960 2307 Head of Corporate Communications Neil Bennett / Tom Siveyer 020 7379 5151 Maitland Notes to editorsExternal reporting under the new structure announced today will come intoeffect in 2007. Interserve intends to provide financial disclosure for 2006based on the existing structure in order to aid comparison with previous years.Bruce Melizan biographyBruce Melizan joined Interserve in 2003 and was Managing Director of InterserveInvestments plc before being appointed to head Interservefm, the Group'sfacilities management division, in January 2006.Bruce has been in the outsourcing industry for 13 years and has held a widevariety of roles ranging from direct delivery through to sales, marketing andgeneral management. Previous organisations include Amey, Mowlem andSchlumberger and he has lived and worked in Indonesia, Bolivia, Canada andTrinidad & Tobago.Bruce, born in May 1967, holds a Masters degree in Business Administration fromCranfield School of Management and a BSc in Electrical Engineering from Queen'sUniversity, Ontario, Canada.About InterserveInterserve Plc (www.interserveplc.co.uk) is a services, maintenance andbuilding group. It creates buildings and other structures for clients in thepublic and private sectors, maintains many different types of buildings, theoperational systems that support them and a range of plant and equipment inspecialist fields, and co-ordinates a host of background services to keep itsclients' operations running smoothly and efficiently while they concentrate ontheir core business. Interserve is based in the UK, is listed on the LondonStock Exchange and trades in the FTSE 250 index. It employs 26,000 peopleworldwide and has a revenue of ‚£1.5 billion.ENDINTERSERVE PLC