Investment Company PLC Directorate Change (9287T)
July 09 2018 - 2:00AM
UK Regulatory
TIDMINV
RNS Number : 9287T
Investment Company PLC
09 July 2018
Monday, 9(th) July 2018
The Investment Company plc
Board changes
The Investment Company plc ("TIC" or the "Company") announces
the following changes to the board with effect from 6(th) July
2018:
-- Sir David Thomson, Peter Allen and Stephen Cockburn retire from the board
-- Ian Dighé is appointed Non-Executive Chairman
-- Tim Metcalfe is appointed Non-Executive Director
Following these changes, the board consists of Ian Dighé, Martin
Perrin and Tim Metcalfe.
The board has made a number of changes to the operations of the
Company over recent months including the appointment of a new
manager, Fiske plc, and new administrative arrangements.
Accordingly, this was viewed as an appropriate moment to refresh
the board. The newly constituted board will review the investment
strategy of the Company and, should there be any proposed material
changes, these will be put forward to shareholders for their
approval as required by the Listing Rules of the FCA.
Commenting on the board changes, Ian Dighé said:
"On behalf of shareholders I would like to thank Sir David
Thomson, Peter Allen and Stephen Cockburn for their long service to
the Company. Together with my new board colleagues, we look forward
to working closely with the manager both to drive forward
shareholder returns and seeking avenues to grow the size of the
Company's assets."
For further information please contact:
The Investment Company plc
Ian Dighé 07785 703 261
Martin Perrin 07785 505 337
Fiske plc
Michael Foster 020 7448 4700
Stockdale Securities Limited
Robert Finlay / Rose Ramsden 020 7601 6115
1. Further details on Ian Dighé
Ian Dighé has significant experience with closed end funds,
namely Gartmore Growth Opportunities Trust plc, Artemis Alpha Trust
plc and Strategic Equity Capital plc. He was a founder of, and
subsequently launched the IPO of, Bridgewell Group plc and he
chaired the successful refinancing and growth of Miton Group
plc.
Ian Dighé was previously Executive Chairman of Miton Group plc.
Miton Group plc had the contract to provide fund management
services to the Company from 2013 to 2018. These services were
provided by two fund managers employed by Miton Group plc, Gervais
Williams and Martin Turner. Ian Dighé resigned as Chairman on 30
November 2017. As a former Executive Chairman of the overall Miton
group, one part of which employed the individuals who had
responsibility for managing the Company's portfolio, the board do
not consider that this compromises his independence as a director
of the Company.
At the date of this announcement, Ian has no holding in the
ordinary shares of the Company.
Ian Dighé was appointed a director of IJ Davies (Tools) Limited
in April 1984. In August 1984 the company was put into receivership
and wound up. The ultimate position of creditors is unknown. Ian
Dighé was also appointed a partner of Matterley Holdings LLP in
2008. In 2009 Matterley Holdings LLP was put into a members'
voluntary winding-up and was wound up with no loss to
creditors.
Ian Dighé was a director of Miton Group plc from 15 February
2011 to 30 November 2017, a director of Strategic Equity Capital
plc from 13 November 2009 to 11 November 2015 and a director of
Artemis Alpha Trust plc from 10 December 2010 to 1 October
2013.
There are no further details required to be disclosed pursuant
to Listing Rule 9.6.13R.
2. Further details on Tim Metcalfe
Tim Metcalfe is an experienced corporate financier, having spent
over 20 years working at Robert Fleming & Co., N M Rothschild,
Westhouse Securities and Northland Capital Partners and was Joint
CEO of Zeus Capital prior to, in 2015, being the co-founder of IFC
Advisory, an investor relations and financial PR adviser to small
and mid-cap quoted companies.
At the date of this announcement, Tim has no holding in the
ordinary shares of the Company.
There are no further details required to be disclosed pursuant
to Listing Rule 9.6.13R.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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