INDEPENDENT NEWS

Capital Properties Announce Board Changes

Published: Thu 11 May 2006 04:28 PM
11 May 2006
Capital Properties Announce Board Changes
Capital Properties New Zealand Limited announced today that following the adoption of a new constitution on 1 May 2006 which removed the requirement for independent directors, James Ogden and Mike Cashin have resigned from the board of Capital Properties New Zealand Limited with effect from 2 May 2006.
Stewart McRobie and Rob Morrison who were appointed by Capital Properties New Zealand Limited controlling shareholder AMP Property Portfolio Investments Limited have also resigned and have been replaced by Simon Urquhart-Hay of AMP Capital Investors and Stephen Costley of AMP Property Portfolio.
Murray Gribben (Chairman) expressed his appreciation for the work done by James and Mike in their role as independent directors, in particular their work in responding to the AMP Property Portfolio Investments Limited takeover.
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