Bellevue Health Regulatory News (BBH)

Bellevue Healthcare Trust plc

(the "Company")

Board Appointments and Succession Planning

Following a comprehensive selection process, conducted using an independent third-party search firm, the Company is pleased to announce the appointment of two independent non-executive directors to the Board. Clare Brady and Sarah MacAulay will join the Board with immediate effect.

Clare is a chartered governance professional with 35 years' experience in banking and financial services. Clare is Chairman of Fidelity Asian Values plc and a non-executive director of The Golden Charter Trust Limited. She is also non-executive director, Audit Committee Chairman and member of the Risk Committee and Conflicts Committee of M&G Group Limited, M&G Investment Management Limited and M&G Alternatives Investment Management Limited. Clare was a non-executive director of Credit Suisse until its merger with UBS. In her executive career, she was a Director of the International Monetary Fund ("IMF") and prior to that, the Auditor General at the World Bank, based in Washington D.C. Previously, Clare headed audit and compliance functions at the Bank of England, Barclays Capital, HSBC and Deutsche Bank.

Sarah has over twenty years of fund management experience based in both London and Hong Kong, managing unit trusts and institutional assets. She is currently Chairman of Schroder Asian Total Return Investment Company plc and a non-executive director of Fidelity Japan Trust plc and Baillie Gifford China Growth Trust plc. Sarah was formerly a Director of Baring Asset Management (Asia) Ltd in Hong Kong, Asian Investment Manager at Kleinwort Benson Investment Management and Eagle Star in London. 

The Appointment of Clare Brady and Sarah MacAulay falls to be ratified by shareholders at the Annual General Meeting ("AGM") of the Company to be held in April 2025.

Randeep Grewal, Chairman, commented:

"We are delighted to welcome both Clare and Sarah to the Board. They bring a wealth of oversight and board experience besides familiarity with investment markets. We are confident that they will both make a valuable contribution to the Company."

Randeep Grewal and Paul Southgate, who have served on the Board since the launch of the Company in December 2016, will retire from the Board at the April 2025 AGM. Kate Bolsover, who joined the Board in July 2021, will become Chairman following Randeep Grewal's retirement. Clare Brady will assume the role of Chairman of the Audit Committee at the April 2025 AGM, with Jo Dixon remaining on the Board as Senior Independent Director until the 2026 AGM.

The Board is engaged in an ongoing search with a head-hunter for another suitable independent non-executive director to further strengthen the Board. In addition to Clare Brady and Sarah MacAulay's appointments, the Board expects to appoint a further non-executive director to succeed Jo Dixon upon her retirement at the AGM in 2026. The Board is cognisant that they need to appoint a Parker Review compliant individual and will provide further updates in due course.

There is no information to be disclosed in respect of UKLR 6.4.8 for Ms Brady or Ms MacAulay and as at the date of this announcement, they have no beneficial interests in the ordinary shares of the Company.

LEI: 213800HQ3J3H9YF2UI82

Enquiries:

NSM Funds (UK) Limited

Company Secretary

bellevue@nsm.group