Platinum Capital Ltd. Announces Board Changes, Effective from 21 August 2015
August 20, 2015 at 09:35 pm EDT
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Consistent with the Board structure of the new Platinum LIC, Platinum Asia Investments Limited (PAI), and in keeping with present corporate governance principles to have a majority of independent Directors, PMC has announced a change to its Board. Kerr Neilson and Andrew Clifford have relinquished their positions as Board members. Both will continue in their positions as current CEO and CIO respectively of Platinum Investment Management Limited (PIML) and executive directors of Platinum Asset Management Limited. There is no change in the mandate responsibility of PIML. Kerr Neilson and Andrew Clifford will regularly report to the PMC Board and continue to provide quarterly investment reporting to PMC shareholders and
investment updates at the PMC Annual General Meeting. The PMC Board structure, effective from 21 August 2015, will consist solely of Non-Executive Directors who continue to manage the company's affairs in accordance with company law and ASX responsibilities: Bruce Coleman (Chairman), Richard Morath and Jim Clegg.
Platinum Capital Limited is an Australia-based closed-ended investment company. The Company's objective is to provide capital growth over the long term through investing in companies worldwide. The Company offers investors a way of accessing an actively managed, truly diversified portfolio of companies from around the world and across industry sectors, providing exposure to undervalued businesses in both developed and emerging markets. The Company invests in various sectors, including financials, industrials, information technology, materials, energy, health care, consumer discretionary, communication services, real estate, consumer staples, and utilities. Australia, China, Hong Kong, India, Japan, Austria, Austria, Finland, France, Germany, Switzerland, Canada, and the United States of America. Platinum Investment Management Limited is the investment manager of the Company.