REG - Witan Inv Tst PLC - Retirement of director

Witan Investment TrustAnnouncement

23/07/2024 17:15

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RNS Number : 5320X  Witan Investment Trust PLC  23 July 2024

 

WITAN INVESTMENT TRUST PLC

Retirement of director

 

23 July 2024

The Board of Witan Investment Trust plc ("Witan") announced on 18 March 2024
that it had been informed by Witan's CEO, Andrew Bell, that he intended to
retire from his current role during the coming year.

Following a review of Witan's investment management arrangements, the Board
announced on 26 June 2024 that it had entered into heads of terms with
Alliance Trust PLC for a combination of the two companies to create Alliance
Witan PLC.

The Board now announces that, on 22 July 2024, Andrew Bell confirmed that he
will step down from the Board and retire from his employment with effect from
immediately prior to completion of the combination with Alliance Trust,
currently expected to be in early October 2024 (subject to shareholder
approval).

 

Andrew Ross, Chairman of Witan, commented:

"The Board would like to thank Andrew Bell for leading the Company in such an
exemplary fashion for the last fourteen years. Recent times have seen a
pandemic, wars, rising inflation, higher interest rates and worries about
recession, not a helpful background for investors.  Andrew has navigated
these with a cool head and sound judgement.  We wish him well for his
retirement."

 

 

For further information please contact:

 J.P. Morgan Cazenove (Financial Adviser and Corporate Broker to Witan)  +44 (0)20 3493 8000

 William Simmonds and Rupert Budge

 

 

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