Directorate

RNS Number : 7833G

Aberdeen Standard Asia Focus PLC

27 November 2020

 

Aberdeen Standard Asia Focus PLC (the "Company")

Legal Entity Identifier (LEI):  5493000FBZP1J92OQY70

Directorate

Aberdeen Standard Asia Focus Investment Trust PLC announces that Martin Gilbert has informed the Board that, after careful consideration and given his other current and future commitments, he believes it is an appropriate time to step down from the Board.  Accordingly, he has asked that the resolution regarding his re-election be withdrawn at the Company's Annual General Meeting on 1 December 2020.  The Board, while disappointed, understands Mr Gilbert's rationale and, accordingly, Resolution 7 will no longer be put to the Meeting.  The remaining resolutions will still be put to Shareholders at the AGM and already cast proxies in respect of the remaining resolutions remain valid.

Nigel Cayzer, Chairman, said "Martin was instrumental in setting up the Company 25 years ago and his advice and counsel have contributed to the very considerable success that the company has had over this long period in building shareholder value. I would like to thank him on behalf of both the Shareholders and the Board for this valuable contribution and wish him every success in the future."

Martin Gilbert said "Since the Company listed, in 1995, the net asset value of a £1,000 investment has risen to £18,295* and the dividend per share has risen from 1.2p, in the Company's first year, to 19.0p this year (including special dividends). I am very proud to have been associated with this excellent performance and believe that the strategy the Company is pursuing will continue to deliver good returns to Shareholders."

The Board expects to appoint a successor in due course.

*Using the NAV released on 26 November 2020 and assuming that all dividends were re-invested

 

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