Appointment of New Director

Capital Gearing Trust

12/08/2024 07:00

12 August 2024

Capital Gearing Trust P.l.c.

(the "Company")

Appointment of New Director

The Board of Capital Gearing Trust P.l.c. is pleased to announce the
appointment of Karl Sternberg as an independent non-executive Director of the
Company, with effect from 5 September 2024.

Mr Sternberg is Chairman of The Monks Investment Trust plc, Clipstone
Industrial REIT plc (listed in the Channel Islands), and Apax Global Alpha
Limited, and a Non-Executive Director of Jupiter Fund Management plc and
Howard de Walden Estates. 

Mr Sternberg was a founding Partner of institutional asset manager Oxford
Investment Partners, which was acquired by Towers Watson in 2013. Prior to
that, he held a number of positions at Morgan Grenfell/Deutsche Asset
Management between 1992 and 2004 including Chief Investment Officer for
London, Australia, Europe and the Asia Pacific. Since 2006 he has developed
his non-executive director career, with a focus on investment management and
the investment trust sector in particular. From 2010 to 2015 he was a
Non-Executive Director of Friends Life Group plc where he was Chairman of the
Investment Oversight Committee. He was Chairman of JPMorgan Income & Growth
Investment Trust plc until November 2016 and the Senior Independent Director
of Alliance Trust PLC until December 2021.  He was a Non-Executive Director
of Lowland Investment Company plc until December 2021 and of Herald Investment
Trust plc until April 2024.

The Chairman of the Board, Jean Matterson, commented:

"My fellow Directors and I are delighted to welcome Karl Sternberg to the
Board. He brings extensive experience and expertise in both investment
management and the investment trust sector, which will complement and
strengthen the skills and experience of the rest of the Board."

Mr Sternberg has also been appointed to the Company's Audit and Risk
Committee, Management Engagement Committee, Remuneration Committee and
Nomination Committee with effect from 5 September 2024.  He will offer
himself for election by the Company's shareholders at the next Annual General
Meeting to be held in July 2025.

There is no information to disclose in respect of paragraphs 9.6.13(2) to
9.6.13(6) of the Financial Conduct Authority's Listing Rules.

- ENDS-

Enquiries:

 Katherine Manson  Frostrow Capital LLP, Company Secretary  020 3709 8734  



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