Duke Royalty Limited Board changes and investment team addition (1379S)

TIDMDUKE

RNS Number : 1379S

Duke Royalty Limited

28 September 2017

28 September 2017

Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Board changes and investment team addition

Duke Royalty Limited (AIM: DUKE) is pleased to announce the appointment of Justin Cochrane as Executive Director and Matthew Wrigley as Non-Executive Director with immediate effect.

Mr Cochrane, has been an active executive of the Duke team since 2015. In his role as Executive Vice President, Corporate Development at Abingdon Capital Corp ('Abingdon'*), Mr Cochrane has had a significant involvement in the origination of prospective investment opportunities for Duke Royalty; been a member of the Company's Investment Committee, coordinating the due diligence and execution of royalty transactions and monitoring of royalty investments made by the Company. Previously Mr Cochrane negotiated, structured and executed dozens of royalty transactions in multiple jurisdictions during his five years at Sandstorm Gold Limited where he was Executive Vice President of Corporate Development. From 2002 to 2010 Mr Cochrane worked for National Bank Financial Inc. where he gained significant transaction experience executing M&A and capital markets transactions including IPO's for the income trust and royalty sectors, among others.

Mr Cochrane holds a Bachelor of Commerce (finance major) from the University of British Columbia and has received a CFA designation from the CFA Institute.

Mr Wrigley is a partner at asset management advisory firm, MJ Hudson. In his fifteen years in alternative assets, he has gained experience through a mix of legal and commercial roles, including serving as General Counsel for a fund management company listed on the Australian Securities Exchange with AUD 1.3 billion assets under management, Chief Operating Officer of an investment trust listed on the Singapore Securities Exchange with a market capitalisation of SGD 600 million, and with leading global law firm, Baker McKenzie. He also sits on several fund and general partner boards, with strategies spanning private equity, infrastructure and real estate.

Mr Wrigley is a Solicitor of the Supreme Court of Queensland Australia, holds a Bachelor of Laws (LL.B) from the University of Queensland and is a resident of Guernsey

The Company also announces the resignation of Jim Ryan from the Board of the Company with immediate effect.

In addition, the Company would like to welcome Jane Lee who has been employed on a full-time basis by Abingdon. Ms Lee is the third executive of our investment team, which includes Jim Webster, Chief Investment Officer and Justin Cochrane, EVP Corporate Development. Ms Lee has four years' experience in royalties with Sandstorm Gold, as well as extensive due diligence and transactional experience with Deloitte and Technicolor. Her experience in due diligence, structuring and executing royalty contracts will be invaluable as the growth phase of Duke Royalty gathers pace.

CEO Neil Johnson commented:

""I am delighted that Justin and Matt are joining the Board. They both have extensive and relevant experience that will be very useful to us as we continue to scale the business. With Jane's addition, I believe the Company has one of the most experienced investment teams in the industry. In addition, I would like to take this opportunity to thank Jim for his wise counsel and significant contribution to the Company and wish him well in the future."

Pursuant to these Board changes the audit and remuneration committees will be comprised of the following Directors:

Audit Committee - Matthew Wrigley (chairman), Nigel Birrell and Mark Le Tissier

Remuneration Committee - Nigel Birrell (chairman), Mark Le Tissier, Matthew Wrigley

The following information is disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies

Justin Robert Cochrane (aged 37)

Mr Cochrane holds 690,000 ordinary shares of no par value in the Company ("Ordinary Shares") and 70,000 options over Ordinary Shares.

 
 Current Directorships    Former Directorships or 
  or Partnerships          Partnerships within the 
                           past 5 years 
-----------------------  ------------------------- 
 Chatham Rock Phosphate 
  Limited 
-----------------------  ------------------------- 
 

Matthew John Wrigley (aged 40)

 
 Current Directorships            Former Directorships or 
  or Partnerships                  Partnerships within the 
                                   past 5 years 
-------------------------------  ------------------------- 
 MJH Services (Guernsey)          DSK Global Investment 
  Limited                          Fund Limited 
-------------------------------  ------------------------- 
 Consus Management (G.P.) 
  Limited 
-------------------------------  ------------------------- 
 German Assets Management 
  (G.P.) Limited 
-------------------------------  ------------------------- 
 Tower Gate Guernsey GP 
  Limited 
-------------------------------  ------------------------- 
 Tower Gate Guernsey GP 
  II Limited 
-------------------------------  ------------------------- 
 TCA GP Limited 
-------------------------------  ------------------------- 
 TCA Guernsey GP Limited 
-------------------------------  ------------------------- 
 Tower Managers Limited 
-------------------------------  ------------------------- 
 iCON Infrastructure Management 
  Limited 
-------------------------------  ------------------------- 
 iCON Infrastructure Management 
  II Limited 
-------------------------------  ------------------------- 
 iCON Infrastructure Management 
  III Limited 
-------------------------------  ------------------------- 
 iCON Infrastructure Management 
  IV Limited 
-------------------------------  ------------------------- 
 

There is no other information that is required to be disclosed pursuant to Rule 17 or paragraph (g) of Schedule Two to the AIM Rules for Companies.

* Abingdon is a financial advisory company, which provides support services to the Company in respect of global deal origination, vertical partner relationships and on-going investment management, including preparation of investment reports, performance data and compliance with the Company's investing policy.

About Duke Royalty

Headquartered in Guernsey, Duke Royalty Limited provides alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team and exclusive partnership provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders.

Duke Royalty is listed on the AIM market under the ticker DUKE. For more information, visit dukeroyalty.com.

For further information:

 
 Duke Royalty Limited     Neil Johnson / Charlie Cannon-Brookes 
                          [phone] 
 
 Grant Thornton UK LLP    Colin Aaronson / Samantha 
  (Nominated Adviser)      Harrison / Jamie Barklem/ 
                           Carolyn Sansom 
                          [phone] 
 
 Cenkos Securities plc    Julian Morse / Michael Johnson 
  (Joint Broker) 
                          [phone] 
 
 Mirabaud Securities      Peter Krens / Edward Haig-Thomas 
  LLP (Joint Broker) 
                          [phone] 
 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

END

This information is provided by RNS

The company news service from the London Stock Exchange

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September 28, 2017 09:47 ET (13:47 GMT)