Directorate Change

RNS Number : 4104F

Securities Trust of Scotland PLC

27 July 2016

 

Securities Trust of Scotland plc

27 July 2016

Listing Rule 9.6.11(2) - Securities Trust of Scotland plc ("the Company") announces that, with effect from the conclusion of the Company's annual general meeting held on 27 July 2016, Neil Donaldson has retired as Chairman and a Director of the Company.

The Board has elected that Rachel Beagles, who has served on the Board for six years, be appointed as the new Chairman of the Company.

Neil Donaldson said "I am honoured to have served as Chairman of Securities Trust of Scotland since inception and am delighted that Rachel Beagles has taken over from me as Chairman.  My commitment to the Company, as a shareholder, has only deepened following the announcement of the Company's updated investment approach in the annual report in May 2016."

Rachel Beagles said: "I am delighted to be appointed Chairman of the Board of Securities Trust of Scotland, and look forward to continuing to work with the rest of the Board to ensure that we deliver attractive returns for our shareholders.  Neil has been a very strong and effective Chairman over the last 11 years, and we all wish him well. 

"The rest of the Board and I are confident that the Company's objective of achieving rising income and long term capital growth through investing in global equities is a compelling one for investors, particularly in the current environment of low interest rates and uncertainty around sterling. We were delighted to appoint Mark Whitehead as portfolio manager of Securities Trust of Scotland earlier this year. We believe that the combination of this objective and the strength and depth offered by the enhanced income team at Martin Currie, under Mark's leadership will be an attractive one for private investors and wealth managers."

Enquiries:

Paul Evitt

Telephone - 0131 229 5252

 

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