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17 Dec 2024 15:27
Maven Income and Growth VCT 5 PLC
Directorate Change
Appointment of Director
The Board of Maven Income and Growth VCT 5 PLC ("the Company") is pleased to announce the appointment of Brian Phillips as an independent Non-executive Director, with effect from 1 January 2025.
Brian is a member of the Institute of Chartered Accountants of Scotland and has over 35 years' Board level experience across industry, private equity investment and corporate finance. He is a member of the Advisory Boards of Harwood Private Equity III, IV, V and VI and is a partner in Imbiba, a small UK private equity business in the hospitality sector.
He is currently a non-executive director of AIM-quoted Tissue Regenix Group Plc, a healthcare business providing wound care products, and NAHL Group Plc, a provider of services to catastrophic injury sufferers, together with legal services. He is also a director of Motocaddy Limited, a distributor of golf products; Purple Dragon (Holdings) Limited, a high end family club operator; and Pet Mate Limited, a distributor of pet products and accessories.
Brian will also serve on the Company's Audit, Management Engagement, Nomination, Remuneration and Risk Committees, and will stand for election by Shareholders at the Annual General Meeting (AGM), currently scheduled to be held on 29 April 2025.
As at the date of this announcement, he has no current beneficial interest in the Company's Ordinary Shares and, in relation to his appointment, there is no additional information required to be disclosed pursuant to Listing Rule 9.6.13 R.
Retirement of Director
As required by Listing Rule 9.6.11, the Company also advises that Gordon Humphries, who has served as an independent Non-executive Director since 7 February 2006 and as Chair of the Audit and Risk Committees, has decided to retire at the conclusion of the 2025 AGM and will not stand for re-election.
The Board would like to thank Gordon for his many years of dedication and commitment to the Company in his role as Non-executive Director and as Chair of the Audit and Risk Committees, including overseeing the appointment of Maven Capital Partners UK LLP as Manager and the Company adopting a new investment policy, allowing its transition from an AIM focussed VCT to a hybrid private equity and AIM investment vehicle. The Board wishes Gordon every success for the future.
Following Gordon's retirement, Brian Phillips will assume the role of Chair of the Audit and Risk Committees.
Maven Capital Partners UK LLP
Company Secretary
17 December 2024
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