Retirement of director

Witan Investment Trust PLC

23 July 2024

 

WITAN INVESTMENT TRUST PLC

Retirement of director

23 July 2024

The Board of Witan Investment Trust plc ("Witan") announced on 18 March 2024 that it had been informed by Witan's CEO, Andrew Bell, that he intended to retire from his current role during the coming year.  

Following a review of Witan's investment management arrangements, the Board announced on 26 June 2024 that it had entered into heads of terms with Alliance Trust PLC for a combination of the two companies to create Alliance Witan PLC.

The Board now announces that, on 22 July 2024, Andrew Bell confirmed that he will step down from the Board and retire from his employment with effect from immediately prior to completion of the combination with Alliance Trust, currently expected to be in early October 2024 (subject to shareholder approval).

Andrew Ross, Chairman of Witan, commented:

"The Board would like to thank Andrew Bell for leading the Company in such an exemplary fashion for the last fourteen years. Recent times have seen a pandemic, wars, rising inflation, higher interest rates and worries about recession, not a helpful background for investors.  Andrew has navigated these with a cool head and sound judgement.  We wish him well for his retirement."

For further information please contact:

J.P. Morgan Cazenove (Financial Adviser and Corporate Broker to Witan) William Simmonds and Rupert Budge

[phone]

 

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