AIMS Funds Management director and former Pengana Capital director and founder Mark Thorpe-Apps has been appointed as an executive director of listed property group MacarthurCook.
Thorpe-Apps will be joined on the board with immediate effect by current AIMS Financial Group founder, chairman and chief executive George Wang who has been appointed as a non-executive director.
Both appointments have taken place “in anticipation” of the acquisition by AIMS Securities Holdings of more than 50 per cent of MacarthurCook’s ordinary shares, according to MacarthurCook chairman Richard Haddock.
Two non-executive directors of the MacarthurCook board, Geoff Coffey and Hugh Gardener, have “sold all of their shares into the AIMS bid” and resigned yesterday to make way for Thorpe-Apps and Wang on the board, Haddock said.
The departures of Coffey and Gardener follow the resignation yesterday of MacarthurCook managing director and founder Craig Dunstan, also in anticipation of the acquisition.
Dunstan’s resignation comes after the MacarthurCook board announced to the Australian Securities Exchange recently that it had reached agreement in relation to the AIMS takeover bid after AIMS increased its offer by a further 8 cents to 43 cents per share.
