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.