Appointment of a Non-Executive Director – Jeremy Kirkwood, and Investment Strategy Update

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    Appointment of Jeremy Kirkwood
    Joyce Corporation Ltd (ASX:JYC or “Company”) is pleased to announce the appointment of Mr Jeremy
    Kirkwood as a Non-Executive Director.
    Jeremy is a principal of Pilot Advisory Group and has previously been a Managing Director with Credit
    Suisse, Morgan Stanley and Austock.
    Joyce Chairman, Mr Mike Gurry, said the appointment of Mr Kirkwood was part of the Company’s
    succession planning, which supported the Company’s strategy of expanding through organic and
    inorganic growth, whilst maintaining strong capital discipline and delivering operational excellence.
    “Jeremy’s experience will be a valuable addition to the Board. He has a strong background in the
    mergers and acquisitions space and has significant experience working in global capital markets,” Mr
    Gurry said.
    “Adding Jeremy’s skills to the Board will support the Company as we consider acquisition
    opportunities as part of our growth plans. Our goal is to take Joyce towards a market capitalisation
    goal of $100m.”
    Mr Kirkwood has extensive Company Director experience and has been Chair of a number of Boards.
    He currently Chairs Talisman Mining Limited. His career has seen a focus on strategic planning,
    financial analysis and project evaluation.
    Company Investment Strategy Update
    In our full year results communications earlier this year the Company flagged its target of achieving a
    market capitalisation of $100m. The foundations of that strategy are now set and in place.
    Expected returns for new investments
    A key driver of our growth plans will be an acquisition program where the intent is to seek out new
    partner organisations and make investments in their businesses. This ‘inorganic’ growth in earnings
    will be in addition to the ‘organic’ earnings being generated by our current portfolio of partner
    organisations.
    Through this process Joyce Corporation has established expectations for rates of return on new
    investments. This will form a part of our selection criteria and pricing considerations as we look at new
    partner organisations. This benchmark rate will also be used to assess the performance of divisions in
    the current portfolio.

    courtesy of Bell Direct
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    ( DYOR )

    i hold JYC ( 'free-carried ' )

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