LONDON--(BUSINESS WIRE)--Hirco PLC (AIM:HRCO), an investment vehicle for Hiranandani, India’s largest developer of mixed-use townships and the country’s largest residential builder, is pleased to announce the appointment of Peter Barge as an additional non-executive director.

Peter Barge has had a distinguished career in the real estate industry. He had recently held the positions of Chairman and CEO of Jones Lang LaSalle, Asia Pacific and Chairman of Jones Lang LaSalle Hotels. He will retire from Jones Lang LaSalle on 30^th June prior to taking up his appointment as non-executive Director with Hirco.

Peter's appointment to the board will take effect on 1^st July. He will serve on the remuneration committee and strategy and investment committee and has been designated to act as the senior non-executive director (as such role is outlined in the incoming UK Corporate Governance Code).

Commenting on the appointment, Niranjan Hiranandani, Chairman of Hirco Plc said:

“Peter brings a wealth of real estate industry and Asia experience to the board. He is a well-respected voice in the industry. My colleagues and I look forward to working with him.”

About Hirco

Hirco PLC is an investment vehicle that invests in India with Hiranandani, India’s largest developer of prestigious mixed-use townships for the country’s increasingly affluent middle class. Its modern, large-scale developments – combining high-quality residential, commercial and retail components with green space and social and recreational facilities – are strategically located in suburban areas outside major city centres.

Hirco shares are traded on the London Stock Exchange’s AIM market under the symbol HRCO. At the time of its admission to trading on AIM in December 2006, Hirco was the largest-ever real estate investment company IPO on the AIM and that year’s largest IPO on AIM.

For further information about the Company, please visit www.hircoplc.com.

To view construction progress at Hirco’s Chennai project, please visit http://www.youtube.com/watch?v=gfj3pqRflIo

About Peter Barge

An Australian national, Peter Anthony Barge (59) has had a long and varied career including teaching, consultancy and property management. For the last 20 years he has been associated with Jones Lang LaSalle, starting with the merger of Transact - a firm founded by Peter - with Jones Lang Wooton (now JLL). He is a well-respected figure in the real estate industry in Asia. Peter is also the author of three management books and was the subject of a Harvard Business School case study. He has won several industry awards, including the Trailblazer award from the Hotel Investment Conference Asia pacific.

Peter is a director/partner of the following entities:
Barge Investments (Aust) Pty Limited

Past directorships/partnerships in the last five years:
JLL Asia Pacific, JLL Hotels, JLL STK, JLL Australia Pty Limited, IP Group Pty Limited, Property Look Pty ltd, Sandalwood Pte Ltd, Tatweer Dubai Holdings, Hero's Journey Pty Ltd, Jaypoint Pty Ltd, Vengaza Pty Ltd.

There are no further details to be disclosed pursuant to Schedule 2, paragraph (g) or Rule 17 of the AIM Rules for Companies.