REG - GCP Asset Backed Inc - Board Changes

GCP Asset Backed Income FundAnnouncement

20/05/2024 11:45

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RNS Number : 1254P  GCP Asset Backed Income Fund Ltd  20 May 2024

GCP Asset Backed Income Fund Limited

(the "Company" and/or "GCP Asset Backed")

 

LEI 213800FBBZCQMP73A815

Board Changes

20 May 2024

The Board of GCP Asset Backed, which invests in asset backed loans, is pleased
to announce the appointment of Philip Braun as non-executive director of the
Company with effect from 20 May 2024.

Mr Braun, a Jersey resident, has nearly 30 years of experience gained in
audit, primarily with a focus on financial services, alternative investment
funds and the regulated offshore industry. After qualifying as an accountant
in London, he spent nearly 10 years with PwC in both Jersey and Sydney.
Following which he spent the last 16 years as the lead audit partner with BDO
in Jersey, prior to his recent move to provide independent directorship
services. In addition to being the head of audit locally, he also led the
provision of business advisory services, including corporate due diligence,
restructuring and liquidations.

Mr Braun has a BSc (Hons) in Mathematics and Computer Science and is a Fellow
of the Institute of Chartered Accountants of England & Wales. Mr Braun
also serves on the board of directors of CVC Income & Growth Limited, a
company listed on the London Stock Exchange where he chairs the audit
committee and is a member of the board of the International Stock Exchange
Authority Limited, the Guernsey based regulator of the international stock
exchange, and sits on both its risk and audit committees.

There is no information concerning Mr Braun which is required to be disclosed
pursuant to Listing Rule 9.6.13 R (2) to (6) inclusive and the Board considers
him to be independent on appointment per the AIC Code of Corporate Governance.

At the same time, the Company also announces that the terms of office of Mrs
Joanna Dentskevich and Mr Colin Huelin as Directors of the Company, both
having served almost nine years, came to an end with effect from 20 May 2024.

Mrs Dentskevich has served as Senior Independent Director and as chair of the
Risk Committee. The Board has benefited from Mrs Dentskevich's significant
experience in financial markets, particularly in the area of risk since the
Company's inception. Her sound judgement and wise counsel have regularly
contributed to the Board's decision-making process.

Mr Huelin has served as chair of the Audit committee since the Company's IPO
nearly nine years ago. He has brought considerable financial experience to the
Company. His commitment to his role and his scrupulous analysis of all matters
put before him have served the Company well.

Alex Ohlsson, Chairman, commented, "We are delighted to welcome Philip to the
Board. He brings a wealth of risk and audit knowledge to the Company. His
experience is relevant and complements the skillsets of the existing
Directors, thereby strengthening the Board as we set forth the implementation
of our new strategy. The Board also would like to extend their thanks to
Joanna and Colin for their significant contribution to the Company throughout
their terms of office. We wish them well in their future endeavours."

For further information, please contact:

 GCP Asset Backed Income Fund Limited      +44 (0)15 3482 2365
 Alex Ohlsson (Chairman)

 Gravis Capital Management Ltd             +44 (0)20 3405 8500
 Philip Kent

 Cameron Gardner

 Anthony Curl

 Barclays Bank plc                         +44 (0)20 7623 2323
 Dion Di Miceli
 Stuart Muress
 James Atkinson

 Buchanan/Quill                            +44 (0)20 7466 5000
 Helen Tarbet
 Sarah Gibbons-Cook
 Henry Wilson

Notes to editors

GCP Asset Backed is a closed ended investment company traded on the Main
Market of the London Stock Exchange. Its investment objective is to generate
attractive risk-adjusted returns primarily through regular, growing
distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a
diversified portfolio of predominantly UK based asset back loans which have
contracted, predictable medium to long term cash flows and/or physical assets.

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