Hirco Appoints Eitan Milgram As Non-executive Director

13 October, 2011

Hirco Plc, the AIM-listed investment vehicle of Mumbai-based property builder Hiranandani, has appointed Eitan Milgram as a non-executive director with immediate effect. Currently, Milgram is a portfolio manager and executive vice-president at Weiss Asset Management, which holds over 22 per cent stake in Hirco.

Milgram has worked with Weiss for the last 11 years. He graduated from Boston University summa cum laude and has served on the board of directors of 14 public-listed companies, advising a number of businesses on corporate restructuring. Funds managed by Weiss Asset Management LP, Eitan’s previous employer, hold 22.15 per cent of the issued share capital of Hirco.

In July 2011, Hirco’s non-executive directors Douglas Gardner and Kesi Gharda resigned from the company. Incidentally, both of them had been with Hirco since its IPO in 2006.

Hirco recently reported a profit of $44.66 million (£27.2 million) for the six-month period ending March 2011, with NAV during the period rising 5.36 per cent. Hirco has invested £350.8 million in four developments which were valued by property consultants Jones Lang LaSalle Meghraj at £513.5 million on September 30, 2010. Hirco owns stake in one residential and one commercial development each, located in Panvel (Mumbai) and Chennai.

Related

Top Deck Regig At Hiranandani’s Investment Arm

 

 


Leave Your Comment
Hiranandani's AIM Listed Real Estate Fund Reports Net Loss of £30.84M

Hiranandani’s AIM Listed Real Estate Fund Reports Net Loss of £30.84M

Ruchika Sharma 8 years ago
Hirco, the AIM listed real estate fund floated by the Hiranandani Group has reported a net loss of £30.884 million, representing a loss per share...
Laxey Partners Exits Its Investment in Hirco

Laxey Partners Exits Its Investment in Hirco

Ruchika Sharma 8 years ago
It’s a second victory for the Hiranandanis, the promoters of the AIM listed real estate company, Hirco Plc. as the company’s activist shareholder – Laxey...
Hirco Ropes In Jones Lang LaSalle Honcho As Non-Executive Director

Hirco Ropes In Jones Lang LaSalle Honcho As Non-Executive Director

Pallavi S 7 years ago
Hirco, the AIM-listed investment vehicle for Mumbai-based property builder Hiranandani, has appointed Peter Barge as an additional non-executive director. Barge has had a two decade...
No Comments

Hirco Appoints Eitan Milgram As Non-executive Director

Powered by WordPress.com VIP