Appoints Harry Charlton as Managing Director
London, May 23, 2012 AEST (ABN Newswire) - Millhouse, Inc. plc (
M77:FRA) the Deutsche Börse listed financial services group, has announced that Mr Harry Charlton will join the board as Managing Director. He will also sit on the boards of subsidiaries.
Mr Charlton has a distinguished career in the United Kingdom, Canada, South Africa, Australia, and has conducted business in several African and Asian countries. He comes with outstanding references for integrity, and professional and accounting skills sets. He is a member of several professional associations.
His professional career includes Chief Financial Officer of the Parliament of South Africa, Finance Director of the South African Sugar Association, Chief Executive Officer of the Sugar Industry Rural Bank, Group Finance Director & Company Secretary of The Builders Warehouse Group, and a series of substantial corporate advisory activities in several countries.
Millhouse, Inc. PLC said in the announcement that this was a significant appointment and that Mr Charlton has the experience and the international network to assist the Chairman and the Chief Executive in the implementation of their vision for the company. He will join and provide the board with all necessary corporate, governance, and finance infrastructure, including risk management and compliance functions.
Mr Charlton said that he had known and worked with the Chief Executive, Mr David Millhouse since 2008 and looked forward to making Millhouse, Inc. PLC a highly profitable and successful company for its shareholders.
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2012-13 and for debt retirement as appropriate. The company will also be sponsoring new IPO's on Deutsche Börse as part of its private equity strategy.
About Millhouse Inc PLC
Millhouse, Inc. PLC is a listed international diversified funds management business with its securities quoted on Deutsche Börse. Its business is to acquire existing businesses in funds management, investment management, and asset management across asset sectors. These acquisitions are conducted at historically low prices and capitalise on the considerable sunk costs invested by previous owners.
The company has a standard acquisition model based on warranted ebitda with the consideration payable over three years as a mix of equity and cash. Each acquisition is ebitda positive and cash generating. Business operations exist in Australia, Singapore, Germany and other countries as the acquisitions program rolls out.
Contact
http://www.millhouse.co
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