Mr Tim Scholefield, a Director of the Company, joined the Board on 15 June 2017, and became Chairman on the same date. He was Head of Equities at Baring Asset Management until 2014. He now holds a portfolio of non-executive directorships including CT UK Capital and Income Investment Trust PLC, abrdn UK Smaller Companies Growth Trust Plc and Allianz Technology Trust plc.

Mr Scholefield contributes to the Company’s long-term sustainable success by drawing on his considerable experience of the investment management industry and asset markets. He has extensive experience of the management and operation of investment trusts, and his independence from the Manager means that he is able to act as Chairman to lead the Board effectively.