Directorate Change

RNS Number : 1461I

Aberdeen Asian Smaller Co's Inv Tst

01 July 2013

 



ABERDEEN ASIAN SMALLER COMPANIES INVESTMENT TRUST PLC (the 'Company')

Appointment of New Directors and Forthcoming Retirement of Mr Alan Kemp

As part of the on-going process of succession planning, the Board of Aberdeen Asian Smaller Companies Investment Trust PLC is delighted to announce the appointment of Randal Dunluce and Mark Hadsley-Chaplin as independent non-executive directors of the Company with effect from 1 July 2013. 

The Board also announces that Alan Kemp has indicated his intention to retire as a Director of the Company at the Annual General Meeting to be held in December 2013.

Nigel Cayzer, Chairman, commented:

"I would like to welcome Randal and Mark to the Board.  They will bring a wealth of international and commercial experience to the Board.

Randal is a Partner of Sarasin & Partners LLP and is responsible for the management of private client and charity portfolios as well as self-invested personal pension schemes. He is chairman of Sarasin's London partnership.  He is also a non-executive director of a number of other companies.

Mark is former Vice Chairman of UBS Securities (East Asia) Limited and was, until 2010, Chairman of RWC Investors Limited, a London based fund management firm specializing in hedge funds and long only funds, having founded the company in 2000.  He is a non-executive director of a number of other companies including Advance Developing Markets Fund a London listed investment trust.

I would also like to take this opportunity to sincerely thank Alan for his dedicated service and outstanding contribution to the Company since his appointment in 1996.  Following Alan's retirement at the AGM in December Chris Maude has agreed to become Chairman of the Audit Committee."

In accordance with paragraph 9.6.13 (1):

Randal Dunluce is not currently a director of any publicly listed companies.

Save as disclosed above, Mark Hadsley-Chaplin is not currently a director of any other publicly listed companies and has been a director of the following listed companies within the last five years:

RWC Pilgrim Fund, (resigned 2010)

RWC Pilgrim Select Fund, (resigned 2009)

RWC Strategic Opportunities Fund, (resigned 2010)

RWC Samsara Fund, (resigned 2010)

In respect of Randal Dunluce and Mark Hadsley-Chaplin, there are no disclosures required to be made in respect of paragraphs 9.6.13 (2) - (6) of the Financial Services Authority's Listing Rules.

Randal Dunluce has a beneficial interest in 800 Ordinary shares (representing 0.01% of the shares in issue) and 400 units of Convertible Unsecured Loan Stock and Mark Hadsley-Chaplin has a beneficial interest in 2,500 Ordinary shares in the Company (representing 0.02% of the shares in issue).

Aberdeen Asset Management PLC

Secretaries

1 July 2013

 

END

 

 

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