Directorate Change

RNS Number : 8901T

Picton Property Income Limited

19 December 2012

 



19 December 2012

PICTON PROPERTY INCOME LIMITED

("Picton" or the "Company")

Directorate Change

PICTON APPOINTS VICTOR HOLMES AS NON EXECUTIVE DIRECTOR

Picton (LSE: PCTN) announces that it has appointed Victor Holmes as a non-executive director, which is effective from 1 January 2013.  He replaces Tjeerd Borstlap, whose resignation from the Board was announced on the 28 August 2012.

Vic Holmes, age 56, was Northern Trust's senior executive in Guernsey and Jersey with overall responsibility for its businesses in those jurisdictions, until he retired from full time employment in November 2011.  He is currently a director of a number of fund related entities promoted by companies such as Ashmore, Cazenove Capital Management, Thames River Capital (now F&C), which includes the London listed Thames River Multi Hedge PCC Ltd. He was elected as vice chairman of the Guernsey Investment Funds Association in April 2012 and is a Fellow of the Association of Chartered Certified Accountants.

Nicholas Thompson, Chairman, commented: "Vic brings a wealth of experience to the Company, having worked in Fund Administration at a senior level.  This experience will be particularly welcome as we evolve as an internalised managed company".

Additional information

Aside from the information set out in the announcement above there is no further information required to be disclosed pursuant to Listing Rule 9.6.13R.

For further information:

Northern Trust International Fund Administration Services (Guernsey) Limited (Company Secretary)
Rachael Falla	Telephone: [phone]

Picton Capital Limited
Michael Morris	Telephone: [phone]

Notes to Editors

Picton Property Income Limited ('Picton') is an income focused, internally managed Investment Company listed on the London and Channel Islands Stock Exchanges. It was established in 2005 to invest both directly and indirectly in commercial property across the United Kingdom.

With Net Assets of £180.2 million at 30 September 2012 and approximately 850 investors, the Company's objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors.

 

END

 

 

BOADMMMZLLMGZZG