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***** 19 October 2022
SME Credit Realisation Fund Limited (the "Company") CHANGES IN THE COMPOSITION OF THE BOARD OF DIRECTORS AND ITS COMMITTEES Following the results of the Company's seventh Annual General Meeting, the Company announces the following changes to the board and its committees effective from 19 October 2022:
Change of chairman Mr Richard Boleat has stepped down as a director and chairman of the board of the Company. Mr Frederic Hervouet has been appointed to succeed as chairman of the board.
Commenting on the change, Mr Frederic Hervouet, said: On behalf of the board I would like to extend our thanks to Richard for his time and commitment to the Company over the years. We wish him the best of luck in future endeavors. I and the board will continue to focus on optimising the exit of the remaining Credit Assets as the Company continues its wind down and returns capital to shareholders.
Appointment of a director Mr Anthony Nicol has joined the board as a non-independent director and will also become a member of the Risk Committee and the Remuneration and Nominations Committee. Mr Nicol is Funding Circle's Group Finance Director. Previously Mr Nicol was the Group financial controller at IG Group plc, a listed financial services trading platform, and before that spent over 15 years at PwC, latterly as an Assurance Director auditing and advising listed and private businesses in a number of sectors. Mr Nicol is an FCA of the ICAEW and holds a BSc (Mathematics) from Bristol University.
Other Board Committee changes
The Company announces the following changes to the board committees: - Mr Jonathan Bridel has been appointed as chair of the Risk Committee to replace Mr Frederic Hervouet; and - Mr Richard Burwood has been appointed as chair of the Remuneration and Nominations Committee to replace Mr Richard Boleat.
CONTACTS Frederic Hervouet, Chairman +44 (0)77 81 159 007
Secretary and Administrator Sanne Group (Guernsey) Limited +44 (0) 1481 739810 smecreditrealisation@sannegroup.com
Corporate Broker Numis Securities Nathan Brown +44 (0) 207 260 1000 n.brown@numis.com
Investor Relations
Website
The ISIN number of the Ordinary Shares is GG00BPP4PP19, the SEDOL code is BPP4PP1 and the TIDM is SCRF. The LEI number of the Company is 549300ZQIYQVNIZGOW60.
***** ABOUT SME Credit Realisation Fund Limited The Company is a registered closed-ended collective investment scheme registered pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Registered Collective Investment Scheme Rules 2020 issued by the Guernsey Financial Services Commission (''GFSC'').
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IMPORTANT NOTICES This announcement contains "forward-looking" statements, beliefs or opinions. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of the Company and all of which are based on its directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "projects", "continues", "assumes", "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events, assumptions or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Board or the Company with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business concerning, amongst other things, the financial performance, liquidity, prospects, growth and strategies of the Company. These forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement. Nothing in this announcement is, or should be relied on as, a promise or representation as to the future. The Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law, the Prospectus Rules, the Listing Rules or the Disclosure Rules and Transparency Rules of the FCA. No statement in this announcement is intended as a forecast or profit estimate.
Neither this announcement nor any copy of it may be made or transmitted into the United States of America (including its territories or possessions, any state of the United States of America and the District of Columbia) (the "United States"), or distributed, directly or indirectly, in the United States or to US Persons (as such term is defined in Regulation S under the US Securities Act of 1933, as amended (the "Securities Act"). Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into Australia, Canada, Japan or South Africa or to any persons in any of those jurisdictions, except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian, Japanese or South African securities laws. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for securities in the United States, Australia, Canada, Japan or South Africa or in any jurisdiction to whom or in which such offer or solicitation is unlawful. | |
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