Board Change

RNS Number : 2219C

Advance Developing Markets Fund Ltd

27 April 2012

 



Advance Developing Markets Fund Limited (the "Company")

Board Changes

Further to the Final Results announcement made on 23 January 2012, the Company confirms that Peter O'Connor retired as a Director and Chairman of the Company following the Annual General Meeting held on 26 April 2012.  The Board of Directors has appointed Richard Bonsor as the new Chairman of the Company and John Hawkins as Deputy Chairman.   

In addition, the Board is pleased to announce that Mark Hadsley-Chaplin has been appointed to the Board as a non-executive Director with effect from 26 April 2012.  Mark Hadsley-Chaplin has over a decade's experience in the asset management industry. He is currently Chairman of Cubit Asset Management Pte Ltd.   Mark founded RWC Partners Ltd (formerly known as MPC Investors), a London based fund management firm specialising in hedge funds, long only funds and a SICAV UCITS III Strategy, in 2000, was CEO until 2006 and Chairman until 2010. .  Prior to this he was Vice Chairman of UBS Securities (East Asia) Ltd, based in Singapore and responsible for the management and development of the bank's Asian equity business worldwide.

A further announcement in relation to disclosures required by Listing Rule 9.6.13 in relation to Mr Hadsley-Chaplin's appointment will be made shortly.

For further information please contact:

Enquiries:

Advance Emerging Capital Limited (Investment Manager to Advance Developing Markets Fund Limited)

Dr Slim Feriani               Tel: [phone]                       

Cavendish Administration Limited (UK Administration Agent)

Anthony Lee      Tel: [phone]

Legis Fund Services Limited

Lisa Garnham    Tel: [phone]

Ordinary Shares - Listing Category: Premium - Equity Closed-ended Investment Funds

27 April 2012

 

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