29 Jul 2022 14:33
abrdn China Investment Company Limited
LEI: 213800RIA1NX8DP4P938
29 July 2022
Changes to Board Composition
Following the recent statement made in the Company's Half Yearly Report, the Board is pleased to announce the following changes to its composition. All of the changes will take effect from 1 August 2022.
Appointment of Director
The Board is pleased to announce the appointment of Mark Bridgeman as an independent non-executive director of the Company. Until 2009, Mark had a 19 year executive career in fund management at Schroders plc, as an analyst, fund manager and latterly Global Head of Research. Previous roles at Schroders included Head of Pan European Research, Head of Global Sector Research and an Emerging Markets Fund Manager. He is currently a non-executive director of Utilico Emerging Markets Trust plc.
In the past five years, Mark has been a director of The Law Debenture Corporation PLC, BlackRock Emerging Europe PLC and JPMorgan Brazil Investment Trust PLC. He was Chairman of the Audit Committee for two of these companies, The Law Debenture Corporation PLC and JPMorgan Brazil Investment Trust PLC.
Upon his appointment to the Board, Mark will take on the role of Chairman of the Audit Committee.
Mark will stand for election at the Annual General Meeting to be held in 2023.
There are no other disclosures required under Section 9.6.13 of the Listing Rules in relation to this appointment.
Chairman and Senior Independent Director
As previously indicated, Mark Hadsley-Chaplain will retire as Chairman and a Director. He will be succeeded as Chairman by Helen Green, who is currently Senior Independent Director and Chair of the Audit Committee.
Sarah MacAulay will be appointed as Senior Independent Director.
Commentary
The Board would like to thank Mark Hadsley-Chaplain for his significant contribution to the Company as a Director since 2012 and Chairman since 2017, and in particular in relation to the scheme of arrangement and change of mandate of the Company in 2021. The Board welcomes Mark Bridgeman as a Director and looks forward to working with him and benefiting from his extensive experience in the fund management sector.
Enquiries:
Aberdeen Standard Fund Managers Limited (Alternative Investment Fund Manager to the Company)
Evan Bruce-Gardyne
Tel: +44 (0)7720 073216
Luke Mason
Tel +44 (0)207 463 5971
Sanne Fund Services (UK) Limited (UK Administration Agent)
Brian Smith
Tel: +44 (0)20 3327 9720