CMHY.L Regulatory News (CMHY)

City Merchants High Yield Trust Ltd - Directorate Change

PR Newswire

London, June 25

City Merchants High Yield Trust Ltd

Headline: Appointment of New Directors

Further to the announcement on 3 April 2019 the Company is pleased to announce the appointment of Heather MacCallum and Stuart McMaster as non-executive directors, with effect from today.

It is intended that Ms MacCallum will take over the role of Audit Chair when the current Audit Chairman, Philip Taylor, retires from the Board in September 2019.

Ms MacCallum is currently non-executive director of Kedge Capital Fund Management Limited and a non-executive director and Chair of the Audit Committee of Blackstone/GSO Loan Financing Limited and Jersey Water, and a non-executive director of Aberdeen Latin American Income Fund Limited.

She is a Chartered Accountant and spent twenty years (15 years as a partner) with KPMG’s financial services practice in the Channel Islands and has extensive experience of the audits of a large number of Jersey and Guernsey listed and unlisted entities.

Ms MacCallum does not currently hold any of the Company’s ordinary shares. 

There is no information to disclose in respect of paragraphs 9.6.13(2) to 9.6.13(6) of the Financial Conduct Authority’s Listing Rules.

Mr McMaster was Investment Director of Fixed Income at Alliance Trust Investments until 2016, prior to this Head of Multi Asset Bond Fund Management at Scottish Widows Investment Partnership.

He provides consultancy investment advisory services to Anderson Strathern Asset Management and coaches the CEOs of charities via the charity Pilotlight. He is a member of The Chartered Institute of Securities and Investment.

Mr McMaster does not currently hold any of the Company’s ordinary shares. 

There is no information to disclose in respect of paragraphs 9.6.13(2) to 9.6.13(6) of the Financial Conduct Authority’s Listing Rules.

Welcoming the new directors, Chairman Tim Scholefield said “I am delighted to welcome directors of the calibre of Heather and Stuart to the Board and very much look forward to working with them.”

Mr Scholefield also extended the Board’s sincere thanks to Mr Taylor for all his work in leading the Company’s Audit Committee over the past 8 years, and wished him well for his retirement.

25 June 2019

Contacts

Hilary Jones

R&H Fund Services (Jersey) Limited

Telephone: 01534 825323