Athelney Trust PLC Directorate Change (5372C)
October 01 2018 - 6:43AM
UK Regulatory
TIDMATY
RNS Number : 5372C
Athelney Trust PLC
01 October 2018
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
Athelney Trust (ATY) - Directorate Change
It is with regret that the Board announces the sudden
resignation of Robin Boyle as Managing Director and Fund Manager
with immediate effect, his resignation was as a result of the
non-executive Directors overruling his request to bring about major
changes in the management of the Company.
Dr. Emmanuel (Manny) Pohl, current Athelney Trust Chairman, will
take over both roles. Simon Moore will take over the role of
Chairman. Robin remains a significant shareholder.
Manny is Chairman and CEO of E C Pohl & Co ("ECP"), an
investment management company and a majority shareholder in Global
Masters Limited, which in turn has been a major shareholder in
Athelney Trust for many years. Manny has a long investment track
record running highly rated listed investment companies in
Australia (note 1) and has spent the last 12 months running a UK
equity portfolio in parallel with Athelney Trust that has performed
extremely well.
We thus expect a smooth transfer of management of Athelney Trust
and a continued focus on both capital growth and dividend growth
from UK equities.
We would like to thank Robin for twenty-four years of managing
Athelney Trust, over which period shareholders have been amply
rewarded in both dividend income and capital growth (note 2). His
interesting, insightful and witty contributions to Athelney Trust
publications will be much missed.
Note 1
Morningstar's report "Australian Institutional Sector Survey"
published in September 2018 shows ECP Asset Management's Flagship
Fund as the 2nd best performing Australian Equity strategy out of
66 peers and ECP Asset Management as the top performer amongst 21
funds investing in Australian Small Companies. ECP has AUD700m
under management.
Note 2
Athelney Trust was founded in 1994. In 1996 it was one of the
ten pioneer members of the Alternative Investment Market ("AIM").
In 2008 the shares became fully listed on the main market of the
London Stock Exchange. Athelney Trust under Robin Boyle has a
successful progressive dividend growth record starting from 1p in
1995 to 8.9p in 2018. The dividend has grown every year since 2004.
According to the Association of Investment Companies (AIC) Athelney
Trust is one of only "22 investment companies that have increased
their dividend every year between 10 and 20 years - the next
generation of dividend heroes"
(as at 20/03/18). See link:
www.theaic.co.uk/aic/news/press-releases/next-generation-of-dividend-heroes
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END
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