James Spenceley stepped down last October from Silver Heritage Group after a lot of pressure. He was the chairman of the board of directors, where he spent about a year and six months in the position. Presently, as things stand in the company, they are trying to fill the void he left behind.

According to reports from Calvin Ayre, so far, their efforts to get someone for the position has been not yielded results. They need to find someone with a strong personality and the capacity to help the company achieve its goals. An announcement was made by the company today and it stated that Darryl Kaplan was hired as a non-executive director of Silver Heritage and he begins his position immediately.

Darryl Kaplan is not a novice to the industry and he’s quite knowledgeable. His experience in finance and law would be a great asset to the company. Due to the issues the company has been battling with for some time, Kaplan is a breath of fresh air and may help turn the company’s fortunes around.

There are rows over its Tiger Palace Resort situated in Nepal, and investor confidence in the company is in an all-time low. This situation is quite precarious and all hands have to be on deck to avert a terrible outcome. Any assistance the company gets would be highly welcome.
As stated in the company’s press release,

“Mr. Kaplan has over 30 [years’] experience in the fields of law, corporate finance and investments, primarily in Australia and South Africa. He previously worked as a lawyer at Mallesons Stephen Jaques in Sydney and has also worked for Davis Borkum Hare and The Bidvest Group Limited. Since 1999, Mr. Kaplan has been [a] resident in Australia where he worked in the software industry, including a regional role for a US software company. Mr. Kaplan worked in investments since 2003, including for an international equity fund within a family office and an equity fund in the Pengana Group.”

Before Kaplan got appointed to his new role, has was the CEO of Astoria Investments Ltd, which is a massive investment company. He held the position from the moment the company was unveiled until he resigned in July this year.

He also served as a non-executive director of Kingswood Limited, an investment management group that’s listed on the London Stock exchange. Kaplan held this position from the 19th of February, 2018 and he resigned in May, this year.

Before he came on board, it seemed Silver Heritage had a glimmer of hope as regards the burden they were carrying financially. At first, they thought had landed a buyer for most of their assets in Nepal especially their Tiger Palace resort.

Both parties had signed a deal and they waited for the agreed deposits as stated on the contract. However, the deal fell through.

The buyer missed the second deadline which was due in September, and in the end, the deal had to be cancelled.