Directorate Changes

RNS Number : 5869E

Digital 9 Infrastructure PLC

14 March 2022

 

14 March 2022

DIGITAL 9 INFRASTRUCTURE PLC

("D9", the "Company" or, together with its subsidiaries, the "Group")

DIRECTORATE CHANGES

The Company announces the following changes to the Board of Directors of D9 (the "Board" or the "Directors").

Chair of the Board

As a result of having been offered the Chief Executive Officer role at a new, US based digital infrastructure operating company, Jack Waters has formally notified the Board of his intention to resign from his role as a Director and Chair of the Company. Therefore, Jack Waters will not be standing for re-election at the Company's annual general meeting (scheduled for 23 May 2022) ("AGM") and his resignation will take effect immediately following the AGM.

The Board would like to thank Jack for his leadership during the launch and throughout D9's first financial year as well as his role in helping raise total equity of over £845 million. Jack's industry knowledge has been extremely valuable during the establishment of D9.

Jack Waters has worked closely with Lisa Harrington, Chair of the Nomination Committee, to identify his successor and the Board is pleased to announce that Philip (Phil) Jordan will be appointed as Non-executive Chair of the Board immediately following completion of the AGM, following an induction period and completion of the standard Jersey regulatory confirmations.

At the same time, he will also be appointed as a member of the Risk Committee, Nomination Committee and Management Engagement Committee.

Phil Jordan

Phil Jordan has a successful track record in the digital infrastructure and technology sectors, both in an executive and non-executive capacity. Phil's executive career includes country, regional and group Chief Information Officer roles, including spending over 10 years at Vodafone, over seven years with Telefonica, where in addition to the Group CIO role, he was CEO and then Chairman of Telefonica Global Technology. He is currently Group CIO of Sainsbury's, a role he has held for over four years.

He has also acted as a non-executive industry adviser to HSBC and was a non-executive director of Talk Talk Telecom Group PLC until it was taken private in 2021.

Jersey-based Non-executive Director

The Board is also pleased to announce the appointment of Aaron Le Cornu as a Non-executive Director with effect from 1 April 2022, following an induction period and completion of the standard Jersey regulatory confirmations. Aaron, who is based in Jersey, has been appointed as a replacement for Monique O'Keefe who has informed the Board of her intention to step down from her role as a Director to pursue a senior executive role, limiting her ability to hold non-executive positions. As a result, she will also not be standing for re-election at the AGM.

Aaron will replace Charlotte Valeur as a Chair of the Management Engagement Committee and will be appointed as a member of the Audit Committee and Risk Committee. Charlotte Valeur will become Chair of the Risk Committee, following the resignation of Jack Waters.

Aaron Le Cornu

Aaron Le Cornu comes from a financial background, having qualified as a Chartered Accountant with Arthur Andersen and worked for HSBC for over 10 years. During his time with HSBC, he held several board positions for HSBC subsidiaries, including as Deputy CEO for HSBC International and was also involved in acquisitions such as the purchase of Marks & Spencer Money. He has since held a number of senior executive roles including at Ogier (offshore legal and fiduciary services provider), Elian (a fiduciary firm headquartered in Jersey) and, latterly, at GLI Finance, an alternative finance provider and strategic investor in numerous fintech platforms. Aaron is currently the Chairman of the Aberdeen Standard Capital Offshore Strategy Fund Ltd. He also served as a non-executive director for Jersey Electricity plc, having stepped down in 2021 after 10 years on the Board.

Aaron and his spouse, being a person closely associated ("PCA") jointly hold 45,000 shares in the Company.

Commenting on the proposed appointments, Jack Waters, Chair of the D9 Board said:

"It has been a privilege to chair the Board of D9 in this first year since its inception and to have seen it grow to a billion dollar investment company in less than 12 months. I am sorry to be departing from the Company so soon but I leave knowing that, as D9 embarks on its second year of operation, it has a strong pipeline of investment opportunities coupled with the financial capacity to execute on those transactions. I look forward to presiding over a robust set of results in respect of the Company's first nine months, to be presented on 17 March 2022.

I am delighted that Phil Jordan will be joining the Board as my successor and I believe that his background, skills and enthusiasm will serve the Company and investors well for what, I trust, will be an equally exciting future.

I am also pleased to welcome Aaron Le Cornu as a Non-executive Director, who will bring his considerable experience across finance, M&A, ESG and risk management to Board discussions. On behalf of the Board, I wish Monique O'Keefe well in her new role and thank her for her valuable contribution to the Board to date."

Regulatory disclosures

Director	Current directorships held in other quoted companies	Directorships held within the past five years in other quoted companies
Philip Jordan	N/A	Talk Talk Telecom Group plc
Aaron Le Cornu	N/A	Jersey Electricity plc

In accordance with the Listing Rules, there is no further information required to be disclosed pursuant to LR.6.13R and LR9.6.11R.

Details of the recruitment process for both new Directors will be set out in the Nomination Committee report in the Company's annual report for the period to 31 December 2021 to be published in due course.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT

Triple Point Investment Management LLP (Investment Manager) Thor Johnsen Andre Karihaloo	[phone]
J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum	[phone]
Akur Capital (Financial Adviser) Tom Frost Siobhan Sergeant	[phone]

LEI: 213800OQLX64UNS38U92

NOTES:

Digital 9 Infrastructure plc is an investment trust which invests in a range of digital infrastructure assets which help to deliver, inter alia, a reliable, functioning internet.

The Company's portfolio will comprise scalable platforms and technologies including (but not limited to) subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).

With its IPO in March 2021, to date, D9 has raised total equity of £845.2 million, investing (or committing to invest) the net proceeds into data centres and fibre networks.

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority, with extensive experience in asset and project finance, portfolio management and structured investments. The Investment Manager's digital infrastructure team has a proven track record of over US$3 billion of infrastructure investments and, in addition, benefits from a panel of digital infrastructure industry experts with deep knowledge, relationships and involvement in a combined US$250 billion of digital infrastructure transactions.

The Company is focused on the provision of Digital Infrastructure integrated with green and cleaner power in line with UN Sustainable Development Goal 9: "Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation".

The Company's Ordinary Shares were admitted to trading on the Main Market of the London Stock Exchange on 31 March 2021.

The Company is a Jersey registered alternative investment fund, and it is regulated by the Jersey Financial Services Commission as a 'listed fund' under the Collective Investment Funds (Jersey) Law 1988 (the "Funds Law") and the Jersey Listed Fund Guide published by the Jersey Financial Services Commission. The Jersey Financial Services Commission is protected by the Funds Law against liability arising from the discharge of its functions thereunder. 

For more information, please visit  www.d9infrastructure.com .

 

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