Corporate Update (8965N)

TIDMSCHE

RNS Number : 8965N

Southern Cross Healthcare Grp PLC

08 September 2011

8 September 2011

Southern Cross Healthcare Group PLC

("Southern Cross", "the Company" or "the Group")

Corporate Update

At the conclusion of its current restructuring plans, Southern Cross will no longer have a role for its Finance Director, David Smith. The Board is therefore pleased to learn from Mr Smith that he expects to take up the position of Finance Director of HC-One Limited later this year. It is planned that HC-One will become the operator of the NHP portfolio of homes, some 250 in total, when these are transferred from Southern Cross, at which point Mr Smith will stand down from the Board.

Given these circumstances, Mr Smith has advised the Board that he will not seek compensation for loss of office.

Jamie Buchan, Chief Executive said;

"David showed great courage when stepping into his current role under hugely challenging circumstances earlier this year. Since that time he has displayed immense fortitude and has performed in an exemplary manner. I am pleased to learn that he plans to continue his career with HC-One, once the transition programme has been completed."

-Ends-

Enquiries:

 
Southern Cross Healthcare Group 
 PLC                                    [phone] 
Amy Kroviak, Corporate Communications 
 
 
Financial Dynamics             [phone] 
John Waples / Ben Brewerton 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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