Albion Kay Vct Regulatory News (KAY)

31 Mar 2009 15:22

SPARK VCT plc ("SPARK VCT" or "the Company")

Appointment of Directors

SPARK VCT announces that David Adams and Greg Lockwood were appointed to the Board as non-executive directors on 30 March 2009.

David Adams has over 25 years of experience as a corporate lawyer, including 19 years as a corporate partner at leading London law firm, Travers Smith, acting predominantly for small to mid cap UK and overseas quoted companies and UK financial intermediaries and advising on mergers and acquisitions, fund raising and other corporate transactions. David retired from the legal profession in June 2006 and now acts as an independent consultant providing strategic and transaction advice. He is currently the non-executive chairman of a private property company.

Greg Lockwood has been involved in backing growth ventures for 13 years. He was a director in the corporate finance department of UBS, and in 1999 moved to the UBS Capital division to found a captive fund investing in communications technologies. In 2002 Greg helped outsource this operation, which included investments in Wolfson Microelectronics and Betfair, through the set up of an independent firm. By 2006 this fund was almost fully exited by which time Greg had started to invest privately in internet marketplace businesses. This activity is currently being formalised as Piton Capital.

Greg Lockwood has taken over from Tom Sooke as Chairman of the Audit Committee with effect from 30 March 2009. Jock Birney, Tom Sooke and Christopher Wright will retire by rotation at the forthcoming annual general meeting and will not be seeking re-election.

Robin Field who joined the Board on 21 January 2009 will be proposed as Chairman at the forthcoming annual general meeting.

Robin Field commented:

"I look forward to working with the newly constituted Board and with SPARK on generating good returns for shareholders."

No further disclosures are required under Rule 9.6.13 (1), (2), (3), (4), (5) or (6) of the Listing Rules.

For further information please contact:

Nghi Tran, SPARK VCT PLC: 0207 851 7777

31 March 2009