The ALE Property Group (ASX:LEP) have appointed Bernard Stanton as a non-executive director with effect from today.
Bernard is to be appointed as a nominee director of ALE’s largest securityholder, Caledonia (Private) Investments.
ALE has entered into a Nominee Director Protocol, this helps management of any issues relating to conflicts of interest and confidential information.
The appointment of Bernard, being a second Caledonia nominee director, will bring Caledonia’s representation on the ALE Board to 28 per cent which is below their current beneficial ownership in ALE of approximately 34 per cent.
Shares in ALE Property Group (ASX:LEP) are trading flat at $5.32.