Athelney Trust PLC Directorate Change (5635P)
February 11 2019 - 2:00AM
UK Regulatory
TIDMATY
RNS Number : 5635P
Athelney Trust PLC
11 February 2019
Athelney Trust plc
Legal Entity Identifier:
213800ON67TJC7F4DL05
Appointment of Directors
Athelney Trust plc is pleased to announce the appointment of
Helen Sachdev as a Non-Executive Director of the Company, effective
immediately. In addition, the Company announces that Frank Ashton,
currently a Non-Executive Director of the Company, has also been
appointed Executive Chairman of the Company with immediate
effect.
Helen Sachdev
Helen Sachdev, aged 53, is currently Non-Executive Director and
Audit Chair of Loughborough Building Society, and was Non-Executive
Director of Communisis plc, the leading provider of personalised
customer communication services, until its acquisition in December
2018. Helen is also currently a Director with the coaching
consultancy, WOMBA.
Helen is a Fellow of the Chartered Institute of Management
Accountants and has a BA (Hons) in Retail Marketing from Manchester
Metropolitan University. Helen brings a wealth of experience as a
non-executive director, underpinned by extensive blue chip
executive experience having worked in senior positions at Barclays
plc, Tesco and Sainsbury's, and she has a proven track record of
operational expertise, corporate development and strategy
implementation.
The current Board of the Company therefore comprises:
-- Frank Ashton (Executive Chairman)
-- David Lawman (Non-Executive Director)
-- Helen Sachdev (Non-Executive Director)
All directors sit on both the Audit and Remuneration Committees,
and Helen Sachdev will Chair the Audit Committee.
It is recognised that Frank Ashton's role as Executive Chairman
is not compliant with the UK Corporate Governance Code. However
after full consideration by the Board it is deemed appropriate at
this critical time for the Company. As well as being a critical
time in the financial reporting cycle the board is negotiating
transition to the Company's future external Fund Management with
Gresham House Asset Management. This was supported implicitly by
voting at the EGM on 22 January 2019. A detailed explanation of the
non-compliant position is available on the Company's website, as is
the result of the EGM voting and 11 January 2019 statement on the
EGM.
To the best of their knowledge, a majority of the Directors,
namely Frank Ashton and Helen Sachdev, have no current or prior
connection with any major shareholder of Athelney Trust plc.
Frank Ashton, Chairman of Athelney Trust plc, said:
"I am delighted to welcome Helen Sachdev to the Athelney Trust
Board, joining David Lawman and myself.
"We now have a strong Board that I believe has the necessary
experience and expertise to stabilise Athelney and move it forward
to the next stage of its growth. I look forward to introducing each
director to shareholders, and talking more about our plans for the
Company's future, at the next scheduled meeting which is the Annual
General Meeting on 3rd April 2019."
Listing Rule disclosures
Helen Sachdev was a Director of Communisis PLC until December
2018.
There are no further details or disclosures required under
Listing Rule 9.6.13R in respect of Helen Sachdev.
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END
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