Directorate Change

RNS Number : 5490F

Woodford Patient Capital Trust PLC

28 July 2016

 

28 July 2016

Woodford Patient Capital Trust plc

Board Appointments  

The Board of Woodford Patient Capital Trust PLC (the "Company" or "WPCT") is pleased to announce the appointment of Carolan Dobson and Alan Hodson as non-executive directors, both with immediate effect.

Carolan Dobson Biography

Carolan Dobson has a background in fund management and is an experienced non-executive director in public and private sector organisations, including a diverse portfolio of investment trust roles. She spent her executive career at Murray Johnstone Ltd, where she managed Murray Income plc and was a main board director, and later joined Abbey National Asset Management, as head of UK. 

In 2004, she was appointed a non-executive director of Aberdeen Smaller Companies Income Trust plc, becoming Chairman in 2011. In 2010, she was appointed as a non-executive director of JP Morgan European Smaller Companies Trust plc, becoming Chairman in 2013. In the same year, she joined the board of The Brunner Investment Trust plc, becoming Chair in 2016. Carolan has recently been appointed to the board of BlackRock Latin American Investment Trust plc and also serves on the boards of Schroder UK Growth Fund plc and Nest Corporation Limited.

Alan Hodson Biography

Alan Hodson is the senior independent director of JPMorgan Elect plc and non-executive director HarbourVest Global Private Equity Limited. He joined Rowe and Pitman (subsequently SG Warburg, SBC and UBS) in 1984 and worked in a range of roles, all related to international equity markets. He became Global Head of Equities in April 2001 and was a member of the Executive Committee of UBS Investment Bank and of the UBS AG Group Managing Board.

Alan retired from UBS in June 2005 and has since held positions on a variety of financial and charity boards. He joined BlackRock Commodities Income Investment Trust plc in 2005, as Chair of the board, a role he held until 2015, on completion of his 9 year tenure. He was a partner at Mill Street Asset Management from 2006 to 2014, and a member of the Advisory Board of Norges Bank Investment Management between 2006 and 2011.

In addition to his commercial board roles, Alan has served on the boards of a number of charities, including Chairman of Trustees of the Great Ormond Street Hospital Children's Charity (2007-2015).

 These two appointments are in line with WPCT's commitment to increase the level of investment trust experience on its Board.

Susan Searle, Chair, Woodford Patient Capital Trust, said:

"I am pleased to welcome Carolan and Alan to the Board and believe they will make a major contribution to our stewardship of WPCT.

"They both have extensive and high level experience within the financial sector, and specifically within the investment trust sector, and will complement the existing non-executive directors of the Company who hold a strong background in the development and growth of healthcare and technology businesses from early stage to maturity."

 The following disclosures have been made pursuant to Listing Rule 9.6.13:

Carolan Dobson currently serves as director of the following publically quoted companies:

-    BlackRock Latin American Investment Trust plc, Non-Executive Director

-    Schroder UK Growth Fund plc, Non-Executive Director

-    The Brunner Investment Trust plc, Chairman

-    JPMorgan European Smaller Companies Trust plc, Chairman

-    Aberdeen Smaller Companies Income Trust plc, Chairman

Carolan Dobson also served as a director of Investment Adviser and Trustee Services Limited that went into voluntary liquidation on 4 February 2016 and Shirescot Securities Limited that went into voluntary liquidation in 2012.

Alan Hodson currently serves, or has served in the previous five years, as director of the following publically listed companies:

-    JPMorgan Elect plc, Non-Executive Director (current)

-    HarbourVest Global Private Equity Limited, Non-Executive Director (current)

-    Blackrock Commodities Income Investment Trust plc, Chairman (retired: 17 March 2015)

Alan Hodson was also a partner at The Mill Street Partnership No. 2 LLP, Mill Street Asset Management LLP, The Mill Street Partnership LLP and Mill Street Partnership Management LLP each of which went into voluntary liquidation in 2013, 2014, 2015 and 2015, respectively.

There are no further matters relating to these appointments requiring disclosure pursuant to Listing Rule 9.6.13

This announcement contains inside information.

-ENDS-

ENQUIRIES:

Four Broadgate
Roland Cross / Gareth David / Katie Jordan
Telephone: [phone]
[e-mail]

About Woodford Patient Capital Trust (WPCT)

WPCT is the £744 million investment trust launched in April 2015 by Woodford Investment Management LLP (Woodford). The trust invests mainly in early-stage and early-growth companies but also has exposure to some blue-chip companies. Woodford is a fast-growing asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, Woodford Investment Management has more than £14bn assets under management. Further information can be found at https://woodfordfunds.com

 

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