Directorate Change

RNS Number : 8132C

Macau Property Opportunities Fund

03 October 2018

 

3 October 2018

Macau Property Opportunities Fund Limited

Directorate Change

The Board of Macau Property Opportunities Fund Limited (the "Company") is pleased to announce the appointment of Mark Huntley as an independent non-executive director with immediate effect.

Mark Huntley has substantial experience in the financial services industry having previously been CEO of Heritage Financial Services Group and holds a number of directorships across both listed and unlisted companies, including ICG-Longbow Senior Secured UK Property Debt Investments Limited. In addition, he is a founding director of the Channel Islands Stock Exchange LBG and is an associate Member of the Chartered Institute of Bankers. 

Mr Huntley has in-depth knowledge of the Company by virtue of his role as CEO of Heritage Financial Services Group which has acted as Administrator to the Company since it was launched but he ceased his role in that business when Heritage was acquired by Estera in 2017. Through that relationship and previous roles, including as Director of AIM-listed China Growth Fund Limited, Mark has sound experience and knowledge of the Macau and Chinese markets, making him well-positioned to assist the Company in achieving its realisation strategy going forward.

Mr Huntley's appointment coincides with the retirement of Chris Russell who has confirmed to the Board his intention to step down as Chairman of the Company with effect from the Company's annual general meeting to take place in November 2018 ("AGM"). Following the AGM, Mr Huntley will be appointed to act as Chairman going forward. Mr Huntley will stand for election at the Company's AGM in November.

 Chris Russell, Chairman, commented:

"I am pleased to welcome Mark to the Board and to be leaving your Company in the safe hands both of the remaining Board members and Mark as my successor. Mark brings to MPO considerable understanding of the Company and experience in the Macau property market, as well as knowledge of companies in the late stages of their life cycle. "

 Mark Huntley commented:

"With the Company's divestment strategy formally in place, I look forward to seeing the Company through its final stage of life, with the clear objective of achieving the right balance of value for Shareholders and timely realisation of investments. I look forward working closely with the Manager to ensure that is achieved."

Mark Huntley is or was within the previous five years a director of the following publicly quoted companies:

                          Current                                             Previous five years

Heritage Diversified Investments PCC Limited	Better Capital PCC Limited (formerly Better Capital Limited)
ICG-Longbow Senior Secured UK Property Debt Investments Limited	Bluefield Solar Income Fund Limited
Stirling Mortimer No. 8 Fund UK Land Limited	China Growth Fund Limited (previously London Asia Chinese Private Equity Fund Limited)
Stirling Mortimer No. 9 Fund UK Land 2 Limited

No further disclosures are required for Mark Huntley in respect of paragraphs 9.6.13R (1) -  (6) of the Financial Conduct Authority's Listing Rules. 

About Macau Property Opportunities Fund

Premium listed on the London Stock Exchange, Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey and is the only quoted property fund dedicated to investing in Macau, the world's largest gaming market and the only city in China where gaming is legalised.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises luxury residential assets.

The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory.

Stock Code

London Stock Exchange: MPO

LEI

213800NOAO11OWIMLR72 

For further information

Investor Relations

Sniper Capital Limited

Tel: [phone]

[e-mail]

www.snipercapital.com 

Corporate Broker

Liberum Capital

Gillian Martin

Tel: [phone]

Company Secretary & Administrator

Estera International Fund Managers (Guernsey) Limited

Kevin Smith

Tel: [phone]

 

END

 

 

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