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29 Nov 2010 13:05
Trinity Capital Plc (the "Company")
Result of EGM
Trinity Capital Plc (AIM:TRC) is pleased to announce that at an extraordinary general meeting of the Company held today resolutions to appoint a new director, adopt a directors' incentive plan for certain directors and renew authorities to allow the Company to purchase its own shares were all duly passed.
The new director is Mr John Chapman, aged 54, who is a qualified attorney and Chartered Financial Analyst (CFA). He has worked as a white collar criminal prosecutor in the United States and as a commercial litigator handling complex commercial litigation. He has also worked as an advisor to various US and foreign governmental bodies on law enforcement issues. Along with his legal background, Mr. Chapman has extensive experience as a director of quoted, emerging market, closed ended funds.
In addition Mr Chapman has been appointed Chairman of the newly constituted legal committee which has been charged with overseeing and making major decisions in connection with the ongoing disputes that the Company is engaged in with the previous Investment Manager and Immobilien I and Immobilien II. He has also been appointed a member of the newly constituted investment committee which is responsible for overseeing the orderly disposal of the Company's assets in accordance with the Company's revised investment policy.
Save as set out below, no further information in relation to Mr. Chapman's appointment is required to be disclosed under Paragraph (g) of Schedule 2 of the AIM Rules
Current Directorships | Past Directorships |
ACP Mezzanine Limited* | |
ACP Capital Limited | ACP Investment Management Limited* |
ACP Capital (UK) Limited | ACP Capital Next Energy Initiative Limited* |
Black Sea Property Fund Limited | Kazakhstan Investment Fund Limited* |
Ottoman Fund Limited | Momentum Energy International Inc |
South African Property Opportunities plc | Muni Funding Co. of America LLC |
Principle Capital Investment Trust Plc | |
Ukraine Fund Limited* |
* Company liquidated or in liquidation pursuant to voluntary liquidation
Commenting on the appointment, Martin Adams, Chairman of the Company, said:
"The Board is delighted that John's election to the Board has received such strong support from shareholders with over 94 % voting for his appointment. We warmly welcome John as a Director. During the period while he acted as a consultant to Trinity, the Company benefited significantly from John's legal and emerging markets investment experience. John chairs the newly constituted Legal Committee of the Board, which Graham Smith from the Administrator and I have also joined. He is also a member of the newly constituted Investment Committee which I chair and Arvind Pahwa and Pradeep Verma have also joined. All Directors are independent of the Shareholders and I am confident that the experience of the Board will enable us to successfully steer the Company through the challenges of the investment realisations and the disputes in implementing the investment policy and maximising shareholder distributions."
29November 2010
Enquiries:
MHP Communications
Tim McCall / James White +44 20 3128 8100
IOMA Fund and Investment Management Limited
Philip Scales, Director +44 1624 681250
Evolution Securities Ltd, Nominated Adviser and Joint Broker
Bobbie Hilliam / Chris Clarke, Corporate Finance +44 207 071 4300
Arden Partners plc, Joint Broker
Chris Hardie, Corporate Finance +44 207 398 1600
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