Statement re new chairman
04/12/2009 5:00pm
UK Regulatory
TIDMDDIT
RNS Number : 6412D
Directors' Dealing Inv.Tst (The)PLC
04 December 2009
Directors' Dealings Investment Trust PLC
New chairman
4 December 2009
Directors' Dealings Investment Trust PLC ("DDIT") announces that, as a
consequence of the appointment of Midas Investment Management Limited ("Midas")
as investment manager which was announced earlier today, Liam Murray has been
appointed Chairman of DDIT. Brett Miller who remains a director of DDIT is also
a director of another fund managed by Midas. The Listing Rules require that the
chairman of a listed investment trust cannot be a director of any other fund
managed by the same investment manager as that investment trust.
The Listing Rules also require that a majority of the board should be
independent of the investment manager. As Brett Miller is not deemed to be
independent of the manager and there are only two directors at present, the
board intend to select and appoint an additional director. A further
announcement will be made at the completion of the selection process.
This information is provided by RNS
The company news service from the London Stock Exchange
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