Directorate Change

Athelney Trust PLC

Legal Entity Identifier:

213800ON67TJC7F4DL05

Appointment of Directors

Athelney Trust plc is pleased to announce the appointment of Dr Manny Pohl and Simon Moore as Non-executive Directors of the Company, effective immediately, reflecting resolutions carried at the AGM. Simon Moore will also chair the Audit Committee.

The Board of Directors comprises:

Mr Frank Ashton Executive Chairman

Mr David Lawman Non-executive Director

Dr Manny Pohl Non-executive Director and Fund Manager

Mr Simon Moore Non-executive Director

Biographies for all Directors can be found on the Company website www.athelneytrust.co.uk.

The Directors are aware that the role of Executive Chairman is not compliant with the UK Corporate Governance Code, but explained the need by its announcement on 8 February 2019. The position will be reviewed by the end of May 2019, as previously announced; the Directors believe that the Company will have resolved most of the temporary challenges driving the need for an Executive Chairman by this time.

The board will survey the opinions of shareholders by telephone and in person, as more than 20% voted against some recommendations made by the board prior to the AGM. A report on the survey will be made available in due course as required by the AIC Code of Governance.

The Directors also welcome feedback from all shareholders; their email addresses are below. Alternatively please contact the Company Secretaries on 01326 378 288 and they will pass your comments to the Directors.

frankashton@athelneytrust.co.uk

mannypohl@athelneytrust.co.uk

simonmoore@athelneytrust.co.uk