mc cabe

http://www.propertyweek.com/intl_story.asp?sectioncode=297&storycode=3149563&c=1





In response to Valad's rights issue McCabe told Property Week he was surprised by the move but very pleased that he would be receiving repayment of his £30m loan note by the end of September. He said it was his intention to remain on the board as the director with the largest shareholding and remained committed to working with the board on a strategy to rebuild the company.

Two weeks ago Property Week revealed that McCabe planned to take charge of the reconstruction of Valad. He is a non-executive director of Valad, which is listed on the Australian Stock Exchange.

He now plans to spend more time in Sydney to help Valad rebuild its portfolio in Australia, Asia Pacific and Europe.