CEF Directors: Weekly Dealings and Moves

January 4-7: A number of closed-end company directors kick the New Year off by buying shares in their CEFs

Jackie Beard, FCSI, 10 January, 2011 | 3:25PM
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Director Changes
Avraham Barzilay has resigned as director of Russian property developer AFI Development A (AFID). In July last year he stepped down from his role as Chief Financial Officer of the company to take the position of Deputy CEO of Africa Israel Properties.

Catherine Claydon has been appointed a non-executive director of Dunedin Income Growth (DIG). She also serves as a non-exec director at Witan Investment Trust (WTAN).

Geoffrey Cullinan has been appointed a non-executive director of Electra Private Equity (ELTA). This is his first appointment to a closed-end fund.

There have been several changes at Phaunos Timber (PTF) this week. Sarah Evans has retired as non-executive director and chair of the Audit Committee. She has been replaced by Sir Henry Studholme, a chartered accountant and tax advisor by traning. Peter Niven has also retired as non-executive director and chair of the Management Engagement Committee. He has been replaced by Martin Ricketts.

Andrew Carruthers has resigned as a director of SPARK VCT (SVCT) and Patrick Reeve has been appointed to the board. Carruthers retains his position as Executive Director of SPARKS Ventures Plc. Reeve is the managing partner at Albion Ventures and Albion manages SPARK VCT and SPARK VCT 2.

Director Buying
Alliance Trust (ATST) – Katharine Garrett-Cox, Robert Burgess, Alan Trotter, Lesley Knox
F&C Investment Trust (FRCL) – Jeremy Tigue
Fidelity Special Values (FSV) – Lynn Ruddick
HSBC Infrastructure (HICL) – Graham Picken, John Hallam
LMS Capital (LMS) – James Szpiro
MedicX (MXF) – David Staples
Pacific Horizon (PHI) – Michael J Morrison
Rensburg AIM VCT (RSB) – Barry Anysz
Scottish American (SCAM) – Rachel Lomax
Securities Trust of Scotland (STS) – Neil Donaldson
Witan (WTAN) – Rory McGrath

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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