Appointment of non-executive director

Herald Investment Trust PLC

13 December 2023

 

Herald Investment Trust plc (the "Company" or "Herald")

LEI number: 213800U7G1ROCTJYRR70

Appointment of Priya Guha MBE as a non-executive director

Following a comprehensive selection process, conducted using an independent third-party search firm, the Company is pleased to announce the appointment of Priya Guha MBE as an independent non-executive director of the Company with immediate effect.

Priya has a portfolio of roles across the global and UK technology and innovation landscape including as a non-executive director at UK Research & Innovation and Digital Catapult, a venture partner at Merian Ventures, a San Francisco based venture capital fund, and an advisor to various start-up companies including Kheiron Medical Technologies and Gallos Technologies. She is also a non-executive director at Reach PLC.

Priya was awarded an MBE in 2021 for services to international trade and women in innovation. Priya holds a BA in Social and Political Sciences from the University of Cambridge.

There is no other information required to be disclosed under section 9.6.13 of the Listing Rules in respect of Priya Guha.

Andrew Joy, Chairman of Herald, said: "Herald Investment Trust invests in smaller quoted companies in the technology and communications sectors, in the UK and internationally. Priya brings knowledge of the global technology sector, and valuable experience in both public and private sectors, to the Board at a time when it is as essential as ever that the UK Stock Exchange remains an effective market for smaller tech companies."

13 December 2023

About Herald Investment Trust

Herald Investment Trust invests globally in the excellent opportunities available in the smaller quoted technology and communications sectors. The Company was established in 1994 and raised £65 million on launch and a further £30 million in 1996. No further capital has been raised. 

Since inception Herald has delivered a 22x NAV total return - with the NAV per share, on a total return basis, having compounded at an annualised rate of 11.0%. Herald has grown to become a constituent of the FTSE 250 index with total assets of approximately £1.1 billion. The Company is currently ungeared and has also returned in excess of £300 million to shareholders through share buy backs - a multiple of its original capital.

The Board believes that this outstanding performance is primarily attributable to the Company's distinctive investment strategy which is focused entirely on smaller quoted companies in the global technology and communications sectors. This strategy requires specialist expertise, an extensive network and sound investment judgement from the Investment Manager. Target companies within the Company's investible universe often receive very limited institutional investor participation, creating opportunities for the Investment Manager to find excellent companies at attractive valuations, and to support them as they grow.

HIT occupies a unique position as the only investment trust offering expert access to such a wide range of small and micro technology and communications stocks to both retail investors and institutions, and performs a vital (and very successful) role in enabling the returns from such companies to be shared by a wide range of investors.

Since inception, the Company has invested approximately £660 million of primary capital, of which over £500 million has been invested in UK listed and AIM companies. In addition to providing outstanding returns to shareholders, the Company's initial capital has been reinvested multiple times providing much needed capital to a growth sector of the UK economy, helping to build businesses, create skilled jobs and enhance the UK's productivity. Of the total profits of approximately £1.4 billion made by the Company since 1994, over £900 million is attributable to UK listed investments and AIM stocks.

For further information contact:

Apex Listed Companies Services (UK) Limited	020 3327 9720
Company Secretary

 

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