Management Team Succession Plans

RNS Number : 9403Z

Seneca Global Income & Growth PLC

20 March 2017

 

Seneca Global Income & Growth Trust plc

To:                   RNS

From:              Seneca Global Income & Growth Trust plc

Date:               20 March 2017

Management Team Succession Plans

The Board announces that the Company's Manager, Seneca Investment Managers Ltd (SIML), has informed it of a prospective change in the composition of its investment team, as Alan Borrows has notified SIML of his intention to retire at the end of this calendar year. 

Over the last two years, led by Chief Investment Officer Peter Elston, your Manager has operated a team based investment approach with each member of the five-strong investment team contributing to the Company's portfolio management through their specific research responsibilities.  Reflecting Peter's leadership and the structure of the investment team, SIML will not be directly replacing Alan, though will supplement the investment team in due course.

The Board would like to record its gratitude to Alan for his service and wishes him a long and happy retirement when it arrives at the end of the year.  The Board is very comfortable with SIML's succession planning and confident that its team structure, under Peter's leadership, bodes well for the Company's future.   

All enquiries:

Steven Cowie,   PATAC Limited,                                                                    0131 538 1400

David Thomas,  Seneca Investment Managers Ltd,                                      0151 906 2480

Alan Borrows,    Seneca Investment Managers Ltd,                                      0151 906 2461

http://senecaim.com/professional-intermediaries/investment-trust/

 

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