Directorate Change

RNS Number : 3848F

Polar Capital Technology Trust PLC

21 April 2011

 



Polar Capital Technology Trust Plc

21 April 2011

Board Changes and New Directors

Chairman of the Board

As announced at the publication of the half year results in December 2010, Mr Richard Wakeling has decided that after 14 years serving as a Director and Chairman, he will stand down from the Board at the Annual General Meeting to be held on 4 August 2011.

The Board has decided that Mr Michael Moule will succeed Mr Wakeling as Chairman at the conclusion of the Annual General Meeting.

The Board wishes to thank Mr Wakeling for the outstanding leadership and contribution he has made to the Company since its launch in 1996.

Mr Moule has been on the Board since 2007 and was elected chair of the Audit Committee in 2010.  Mr Moule was a director of investment trusts at Henderson Global Investors and investment manager of The Bankers Investment Trust Plc and Law Debenture Corporation Plc until his retirement in 2003.  He is currently a director of The European Investment Trust Plc and Montanaro UK Smaller Companies Investment Trust Plc.

New Appointments

The Board is also pleased to announce the appointment of Ms Sarah Bates and Mr Peter Hames as non executive Directors with effect from 30 June 2011.

Ms Bates is the current Chairman of the Association of Investment Companies and is a non executive director of St. James's Place Plc, Development Securities Plc, New India Investment Trust Plc, Witan Pacific Investment Trust Plc and JP Morgan American Investment Trust Plc. Sarah is also Chairman of the Stena (UK) pension fund and Chairman of Cancer Research UK pension fund's investment committee as well as being a member of a number of other charitable and pension fund investment committees.  Sarah has over 28 years experience of pension fund and retail investment.

Ms Bates was a director until 4 October 2010 of Invesco English and International Trust plc (in members' voluntary liquidation).   There is no further information required to be disclosed pursuant to paragraph 9.6.13R of the Listing Rules in respect of Ms Bates.

Mr Hames spent 18 years of his investment career in Singapore.  In 1992 he co-founded Aberdeen Asset Management Plc's successful Asian operation with Hugh Young which by the time of his departure in mid 2010 had assets under management of around US$50 billion and offices across the region.  As director of Asian Equities, he oversaw regional fund management teams responsible for the running of a number of top-rated and award-winning funds.  He also played an important role in the development of Aberdeen's Global Emerging Market products.

There is no further information required to be disclosed pursuant to paragraph 9.6.13R of the Listing Rules in respect of Mr Hames.

For further information please contact:

R Wakeling  / M Moule

020 7227 2700

N P Taylor / B Rogoff - Polar Capital LLP

020 7227 2700

Edward Gascoigne-Pees/ Georgina Turner - Financial Dynamics

020 7269 7136

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