Platinum Capital Limited announced that its chairman, Mr. Bruce Phillips has advised the company of his intention to resign from the board effective on and from 5 June 2015. It is intended that Mr. Bruce Coleman, currently a Non-Executive Director of the Company, will be elected to the position of Chairman of the company effective on and from 5 June 2015. Mr. Coleman has been a Director of the Company for 11 years and will provide good continuity for the Board's ongoing governance.

The company also advised that Mr. Jim Clegg will join the Board as a Non-Executive Director effective on and from 5 June 2015. Mr. Clegg joins the Company with 27 years' experience in the financial services industry, having been a Director of Godfrey Pembroke, Berkley Group and Centric Wealth. Mr. Clegg is a Trustee of The Walter & Eliza Hall Trust.

As foreshadowed in a previous advice to the market, Mr. Philip Howard has resigned as an Executive Finance Director and as Company Secretary of the Company. These roles have been split by agreement with the Company's investment manager, Platinum Investment Management Limited. As a consequence, the position of Executive Finance Director on the Board of the company will not be filled.

This will create a majority of Non-Executive Directors on the Board. The position of PMC's Company Secretary will be taken by Ms. Janna Vynokur effective 25 May 2015. Ms. Vynokur joins the company from Allens Linklaters, where she held the position of Managing Associate.

Ms. Vynokur has 14 years of legal experience with expertise in funds management, financial services regulation and corporate governance.