Value and Income Trust plc Directorate Change (7305U)
April 01 2019 - 10:55AM
UK Regulatory
TIDMVIN
RNS Number : 7305U
Value and Income Trust plc
01 April 2019
Value and Income Trust PLC ("the Company" or "VIT")
Directorate Change
The Company announces the retirement of Angela Lascelles and
Matthew Oakeshott as Directors with effect from 1 April 2019.
Angela and Matthew have managed VIT's portfolio since August 1986
when, as the founder directors of OLIM Limited, they led the
reorganisation of the trust, raising its total assets from GBP7
million to around GBP200 million.
Angela Lascelles is the Managing Director of OLIM Limited, the
Investment Manager responsible for the management of the Company's
equity portfolio. She was appointed as a Director on 6 March
2008.
Matthew Oakeshott is Chairman of OLIM Property Limited, the
Investment Manager responsible for the management of the Company's
property portfolio. He was appointed as a Director on 1 April
2007.
Following discussions with the Board on succession planning
within their respective organisations, Angela and Matthew took the
decision to retire from the Board and also as the lead portfolio
managers responsible for the Investment Management of the Company's
equity and property portfolios respectively.
OLIM Limited has appointed Mr Patrick Harrington as the lead
portfolio manager responsible for the management of the Company's
equity portfolio. OLIM Property Limited has appointed Ms Louise
Cleary as the lead portfolio manager responsible for the management
of the Company's property portfolio. Both appointments are
supported and welcomed by the Board and the Directors all look
forward to continuing to work with Patrick and Louise in the
future.
Patrick Harrington joined the OLIM Limited team in 2018 as a
director and investment manager from stockbroker Baden Hill where
he was Managing Partner. Patrick is a highly experienced fund
manager with over 25 years' experience in the industry, Patrick
held previous roles at Jupiter Asset Management, Henderson Global
Investors and M&G. Patrick previously worked with OLIM Limited
from 2005-2009 and is responsible for managing both equity and
balanced portfolios.
Louise Cleary joined OLIM Limited in 2009. Louise qualified as a
Member of the Royal Institution of Chartered Surveyors in 1996 and
has over 23 years of experience in commercial real estate. Prior to
joining OLIM in 2009, Louise was an Associate Director and
Investment Manager at Hermes Real Estate Investment Management Ltd
working on the BT Pension Scheme, Royal Mail Pension Plan and
Hermes Property Unit Trust. Louise is highly experienced in all
aspects of commercial real estate with previous roles at Land
Securities plc and Asda Property Holdings plc.
The Board would like to thank Angela and Matthew for their
invaluable contributions to the success of the Company and wish
them well for the future.
Maven Capital Partners UK LLP
Company Secretary
1 April 2019
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END
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