Shopfitting and interiors group Havelock Europa has appointed Ian Godden as chairman, and announced a proposed share issue enabling him to buy a £300,000 stake in the Kirkaldy-based company.
Godden will take over from David MacLellan at the Aim-quoted firm’s general meeting on 25 January. Godden wishes to buy a “significant” shareholding in the business, and is set to invest via his pension fund.
Havelock’s board proposes that he buy 3,000,000 new ordinary shares at 10 pence each, which would grow his stake in the firm to about 7.7 per cent.
MacLellan, who is set to retire from the board, praised Godden’s “commitment to invest in the company, at what is hoped will be a point of change for Havelock”.
He added: “Ian has a good understanding of Havelock’s activities, having been a director of the company from 1995 to 2006, and a track record of helping businesses grow."