Directorate Change

RNS Number : 8779U

Golden Prospect Precious Metals Ltd

03 January 2012

 



Golden Prospect Precious Metals Limited

("Golden Prospect" or "the Company")

Appointment of Directors

The Company is pleased to announce the appointment of Paul Craig and John Bowles to its Board as Directors with immediate effect. 

Paul Craig

Paul Craig is a Director of Multi-Manager at Henderson Global Investors. Mr. Craig has over 20 years of investment experience, including 10 years at Exeter Investment Group and 6 years at New Star Asset Management, where Mr. Craig was a Director of the asset management subsidiary. During the past 18 years, Mr. Craig's focus has been multi-manager products with an emphasis on closed-end funds. Mr. Craig is an Associate of the UK Society of Investment Professionals.

John Bowles

For 40 years, Dr. Bowles has been active as an economic geologist and mineralogist specialising in gold and platinum resources. He has worked in University, Government Survey and Industry and is currently Honorary Visitor at the University of Manchester and Director of Mineral Science Ltd, a consultancy specialising in mineral assessment. He was a Director of the Company from its inception until 2008 and he has recently published a definitive reference work on the oxide minerals in the DHZ Rock-Forming Minerals series.

Malcolm Burne, Chairman of Golden Prospect, commented: "We are pleased to welcome Paul and John to the Board.  Paul is an accomplished investment manager and John brings a wealth of precious metals experience. I believe that the combination of their experience will make a significant contribution to the development of the Company.  I am delighted that we have been able to attract such capable people to join the Board."

For further information please contact:

Hannah Girard,

Legis Fund Services Limited, Corporate Secretary               Tel: [phone]

Beth Harris,

Threadneedle Communications                                             Tel: [phone]

The objective of GPPM is to provide investors with capital growth, from a portfolio of companies involved in the precious metals sector.

John Wong manages the GPPM portfolio and is a Chartered Accountant with over ten years' experience including investment management roles at Ruffer LLP and Rothschild Asset Management. Since New City Investment Managers took over the fund in September 2008 John has been GPPM's lead fund manager.

If you would like to receive the monthly factsheet on Golden Prospect Precious Metals Limited or any of the other New City Investment Managers' trusts please email [e-mail].

Please see the below table for the funds' ordinary share and NAV performance over a five year  period:

	12 months	3 Years	5 Years
Fund NAV*	-1.2%	+298.9%	+7.2%
Share Price*	+14.2%	+435.7%	+12.5%

(Data as at 30 November 2011)

Source: Legis Fund Services Limited/Bloomberg

*Total return performance based on mid prices.

New City Investment Managers took over the investment management function of GPPM on 15 September 2008.

 

END

 

 

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