Directorate Change

RNS Number : 6011N

Aberdeen New India Invest Trust PLC

01 October 2021

 

ABERDEEN NEW INDIA INVESTMENT TRUST PLC

LEI - 549300D2AW66WYEVKF02

Appointment of Non-Executive Director

1 October 2021

The Board of Aberdeen New India Investment Trust PLC (the "Company") is pleased to announce the appointment of David Simpson as an independent non-executive Director of the Company with effect from 1 November 2021. David Simpson was appointed following a search conducted by an independent recruitment consultancy.

David initially qualified as a solicitor before following a career in corporate finance, which included seven years with Barclays de Zoete Wedd and 15 years with KPMG, latterly as global head of mergers and acquisitions. He   has worked with numerous major corporates, listed companies, private equity, charitable and public bodies. David is currently chairman both of Ecofin Global Utilities and Infrastructure Trust plc and of M&G Credit Income Investment Trust plc.

David's interest in India derives from his previous career and from his current role as a non-executive director of ITC Limited ("ITC"), a major listed Indian company capitalised at around £29 billion. ITC has a diversified presence in FMCG, hotels, packaging, specialty paper and agri-business. ITC represents a position of approximately 3% of the Company's portfolio as at the date of this announcement and David has agreed that he will recuse himself from all discussions regarding ITC to avoid any potential conflict of interest.  

Hasan Askari , Chairman of the Company, said: "The Directors are delighted to welcome David to the Board.  David brings to the Company a wealth of experience and corporate knowledge across a range of sectors and closed-end funds including experience of India. The Board very much looks forward to working with him."

There are no disclosures required to be made for David Simpson in respect of paragraphs 9.6.13R (1) - (6) of the Financial Conduct Authority's Listing Rules.

David Simpson does not hold any interest in any of the Company's shares.

For further information, please contact:

Stuart Reid

Aberdeen Asset Management PLC

Secretaries

Tel. [phone]

 

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