SAINTS Appointment of Director

RNS Number : 9784J

Scottish American Investment Co PLC

15 September 2016

 

RNS Announcement

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

Appointment of Director

The Board is pleased to announce the appointment of Sir Nicholas Macpherson GCB as a non-executive Director of the Company with effect from 15 September 2016.

Sir Nicholas was Permanent Secretary to the Treasury from 2005 to 2016, leading the department through the global economic and financial crisis. Prior to that, he held a number of senior posts at the Treasury, including heading the Spending and Tax directorates. In the 1990s, he was Principal Private Secretary to Ken Clarke and Gordon Brown. An economist by training, he worked for Peat Marwick consulting and the CBI before joining the Treasury.

Sir Nicholas is currently Chairman of C Hoare and Co, and is a visiting Professor at King's College, London.

Peter Moon, Chairman of The Scottish American Investment Trust P.L.C., commented:

''My fellow Directors and I are extremely pleased that Sir Nicholas has agreed to join the Board of SAINTS. We believe that his considerable experience and knowledge will augment that of the current Directors and enhance the Board.''

As at 15 September 2016, Sir Nicholas held 2,500 shares in The Scottish American Investment Company P.L.C.

There is no information required to be disclosed under Listing Rule 9.6.13

The appointment falls to be ratified by shareholders at the Annual General Meeting of the Company to be held in 2017.

Baillie Gifford & Co Limited

Managers and Secretaries

15 September 2016

 

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