Middlefield Canadian Directorate Change

 
TIDMMCT 
 
   Middlefield Canadian Income PCC (the "Company") 
 
   (a protected cell company incorporated in Jersey with registration 
number 93546) 
 
   Middlefield Canadian Income - GBP PC (the "Fund") 
 
   Director Changes 
 
   As referenced in the Company's half-yearly report for the six months 
ended 30 June 2018, the board intends to refresh its composition and has 
been planning for future succession.  It has been considering various 
measures to be taken by the Company to continue to comply with the UK 
standards of good corporate governance and has been consulting with 
certain of the Company's largest shareholders. 
 
   In this regard, Mr Raymond Apsey, a Jersey non-executive director and 
former Chairman of the Company and the Fund, has advised the board of 
his willingness to retire as a director of the Company and the Fund at 
the next Company and Cell Meeting to be held in June 2019.  Mr Apsey's 
retirement is conditional upon the consent of the Jersey Financial 
Services Commission (the "JFSC") and the JFSC's approval of the 
appointment of a replacement Jersey-resident director. Mr Apsey has 
served on the board since 24 May 2006, the date of incorporation of the 
Company. 
 
   The board would like to thank Mr Apsey for his invaluable contributions 
to the Board during his tenure and wishes him well for the future. 
 
   The board is in the process of identifying a new Jersey-resident 
director to be appointed in place of Mr Apsey and a further announcement 
providing details of the new director will be released in due course. 
 
   In terms of the Company's intention to refresh its composition, the 
proposed appointment of a new Jersey-resident non-executive director 
follows the appointment of UK-resident non-executive director, Mr 
Richard Hughes, who was appointed to the board with effect from 1 July 
2018.  Further steps to be taken in terms of succession planning will be 
announced by the Company in its Annual Report for the year ended 31 
December 2018, to be published in mid-April. 
 
   For further information contact: 
 
   JTC Fund Solutions (Guernsey) Limited 
 
   Assistant Secretary 
 
   Tel: [phone] 
 
   END OF ANNOUNCEMENT 
 
   E&OE -- in transmission 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 19, 2019 11:20 ET (15:20 GMT)

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