Simonds Farsons Cisk plc – Trident Developments Limited appoints Chief Executive Officer Designate and Chief Operations Officer

Simonds Farsons Cisk plc issued the following Company Announcement pursuant to the Malta Financial Services Authority Listing Rule 5.13, 5.16, 5.20 and 5.21. 

TRIDENT DEVELOPMENTS LIMITED APPOINTS CHIEF EXECUTIVE OFFICER DESIGNATE AND CHIEF OPERATIONS OFFICER

In anticipation of the proposed spin-off of the Farsons Group’s non-operational property assets into a newly listed public limited company, which is conditional to the shareholders’ approval at a general meeting to be held in 2017, the Board of Directors has approved the following appointments: 

As from 1 st June 2016, Charles Xuereb, currently Chief Financial Officer (CFO) of the Farsons Group will be taking on the role of CEO Designate of Trident Developments Ltd, a fully owned subsidiary of the Farsons Group. To support Mr Xuereb in his new role, Dr Christopher Ciantar will be appointed Chief Operations Officer (COO) of Trident Developments Ltd with effect from the same date. 

Mr Xuereb will be working closely with the Chairman of the Group, Mr Louis A Farrugia and the Board of Directors. The proposed spin-off is intended to benefit and enhance shareholder value through the focus of a separate Board of Directors and managed by a dedicated team of professionals led by Mr Xuereb. Dr Christopher Ciantar will be supporting Mr Charles Xuereb in the implementation of the significant infrastructural projects that will be assumed by the new plc including the rehabilitation and conversion of the old brewery building into an office business park with an accompanying car park and ancillary services, a visitors’ attraction as well as food and beverage outlets. 

To view the official Company Announcements, click here.