Source - GNW



6 October 2016

At the AGM, held on 7 July 2016, Michael Reeve retired as Chairman and as a director of the company.  The Board conducted a search for new directors and has today appointed Neal Ransome and Joanne Parfrey as non-executive directors with immediate effect.

Neal Ransome is a chartered accountant and was formerly a partner at PwC. He was Chief Operating Officer of PwC's Advisory business and led its Pharmaceutical and Healthcare Corporate Finance practice. Neal is a director of Quercus (General Partner) Ltd, a unit trust invested in healthcare properties, and was formerly a director of Parity Group Plc, an AIM-listed professional services company.  He is also a Trustee and Council Member of the RSPB, the UK's largest nature conservation charity.

Joanne Parfrey has a degree in Chemistry from Oxford University and is an accountant by training. She has over ten years' experience in private equity with LGV Capital, where she was a member of the investment committee and held a number of non-executive positions. She is a Non-Executive Director and Chair of the Audit Committee for Babraham Bioscience Technologies Ltd and is a mentor on the Accelerate Programme at the Cambridge Judge Business School, University of Cambridge.

There are no other disclosures to be made under Listing Rule 9.6.13 in respect of either Neal Ransome or Joanne Parfrey.

The Board also wishes to announce the retirement of Marion Sears from the board with effect from today.

Roger Smith, Chairman, commented: "I am very sorry that Marion has not been able to continue as a director, but she has enormous demands on her time.  She has been an invaluable member of the Board and has served shareholders' interests resolutely.  I am delighted to welcome both Neal and Joanne to the Board.  They will be of great assistance as we face up to the challenges of the newest VCT regulations.  Neal has also been appointed chairman of the Audit Committee."

For further information please contact:

Nicola Board
Company Secretary
020 7776 8663

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Octopus AIM VCT PLC via Globenewswire

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