Phaunos Timber Fund Limited Directorate Change (4813P)
August 31 2017 - 10:00AM
UK Regulatory
TIDMPTF
RNS Number : 4813P
Phaunos Timber Fund Limited
31 August 2017
Phaunos Timber Fund Limited
31 August 2017
Directorate Change
The Board of Phaunos Timber Fund Limited ("PTFL" or "the
Company") announces that Richard Boléat has been appointed as a
Non-Executive Director and Chairman of the Company.
As set out in the Company's announcement of 25 July 2017,
following the appointment of Richard Boléat as Chairman, Sir Henry
Studholme has stepped down both as Chairman and as a director of
the Company. Jane Lewis and William Vanderfelt have also stepped
down as directors.
All of these changes will take place will immediate effect.
Richard Boléat Biography
Richard Boléat was born in Jersey in 1963. He is a Fellow of the
Institute of Chartered Accountants in England & Wales, having
trained with Coopers & Lybrand in Jersey and the United
Kingdom. In September 2007, he established Governance Partners,
L.P., an independent corporate governance practice, and currently
acts as Chairman of CVC Credit Partners European Opportunities
Limited and Funding Circle SME Income Fund Limited, both of which
are listed on the London Stock Exchange. Additionally, he is
Chairman of Yatra Capital Limited, which is listed on Euronext, and
PI Power International Limited (in liquidation), which is listed on
the Austrian third market, both of which are in the process of
being wound down. Richard has also been a director of AI Airports
International Limited, which was listed on the Austrian third
market and was dissolved on 29 December 2015 after a wind-down
process. He is regulated in his personal capacity by the Jersey
Financial Services Commission and is a member of AIMA.
Richard Boléat commented: "I am delighted to be appointed as
Chairman of Phaunos Timber Fund Limited, and look forward to
working with my board colleagues and our advisors to give effect to
the decisions taken at the Company's recent EGM. We will seek to
maximise shareholder value in a manner consistent with an efficient
wind-down process. On behalf of the Board I would like to take this
opportunity to thank Sir Harry Studholme for all of his hard work
over the last six years. He was central to the removal of FourWinds
and the appointment of Stafford as manager of the Company and, over
this period, has overseen a significant improvement in the quality
of the portfolio assets."
Pursuant to Listing Rule 9.6.13 R the directorships listed in
Richard Boléat's biography above represent all of his directorships
and appointments in publicly quoted companies over the past five
years. This disclosure is based upon information provided by Mr
Boléat.
Mr. Boléat has no details to disclose pursuant to Listing Rule
9.6.13 R (2) to Listing Rule 9.6.13 R (6).
Enquiries:
Phaunos Timber Fund Limited
Richard Boléat
Stafford Capital Partners Limited (Manager)
Michael Goodfellow, +44 (0)20 7535 4915
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley, +44 (0)20 3100 0301
Media Enquiries:
Phoenix Financial PR
Gordon Puckey: +44 (0) 7799 767468
info@phaunostimber.com
Notes to Editors
Established in 2006, PTFL invests in a concentrated, but
diversified portfolio of timberland and timber-related
investments.
PTFL is a Guernsey-domiciled authorised closed-ended investment
scheme, authorised by the Guernsey Financial Services Commission
under section 8 of The Protection of Investors (Bailiwick of
Guernsey) Law, 1987 (as amended) and the Authorised Closed-ended
Investment Schemes Rules 2008 made thereunder. The Company's
ordinary shares are traded on the Main Market of the London Stock
Exchange. www.phaunostimber.com
It was announced on 19 June 2017 that the Company's continuation
resolution had not been passed. The Board has stated that it will
put forward proposals to commence the process for an orderly
realisation of the assets of the Company.
The Company's ticker is PTF. www.phaunostimber.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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