MBO executives leave Alinta

The three members of the Alinta Ltd management buyout team remaining at the company, Murray King, Christopher Indermaur and Mr Stephen Pearce, will cease employment at the end of the month.

Below is the announcement:

In accordance with Listing Rule 3.16, the Company wishes to advise that Mr Murray King has ceased to be a Company Secretary of Alinta Limited with effect from today.
In addition, Mr Murray King, Mr Christopher Indermaur, Executive General Manager Business Strategy & Development and Mr Stephen Pearce, Chief Financial Officer, will cease employment with the Company on 30 April 2007.
As previously announced to the market, Mr King, Mr Indermaur and Mr Pearce were participants in the Management Buyout (MBO) Group which, with Macquarie Bank, made an offer to acquire Alinta. Following the Board's recommendation of the offer by Babcock & Brown and Singapore Power, the company and Messrs King, Indermaur and Pearce have mutually agreed that they will cease employment with the Alinta Group.
Furthermore, as previously announced to the market on 11 January 2007, former Chief Executive Officer, Mr Robert Browning resigned on 11 January 2007. In that announcement it stated that the Board had chosen to retain Mr Browning's services until 30 June 2007. In light of the Babcock & Brown and Singapore Power offer, the Board determined that Mr Browning's services were no longer required to 30 June 2007 and Mr Browning's last day of employment was brought forward to 11 April 2007.
Mr Peter Magarry continues in the role of Acting Chief Executive Officer, Mr Ian Wells continues in the role of Acting Chief Financial Officer and Ms Yasmin Broughton continues in the role of Acting General Counsel.