FT's Webb Joins Montanaro European Smaller Cos

CEF DIRECTOR MOVES: FT columnist joins the board of the Montanaro CEF; Sir Keith Stuart resigns from City of London’s board after 12 years; and more

Jackie Beard, FCSI, 4 April, 2011 | 10:18AM
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Director Changes: March 28-April 1
Sir Keith Stuart has resigned from the board of City of London (CTY), after 12 years on the board. He leaves a well-staffed board of five members, whose average tenure is 3.25 years.

Iain McLaren has joined the board of Ecofin Water & Power Opps (ECWO). This is his fifth current directorship of a listed company and he is also chairman of Investors Capital Trust.

Frederick Dubignon has been appointed a non-executive director of Brazilian property company Itacare Capital (ITA). This is his first such appointment at a listed investment company.

Merryn Somerset Webb has joined the board of Montanaro European Smaller Companies (MTE). Ms Webb is a financial journalist whose columns appear regularly in the Financial Times.

Lady Barbara Judge is resigning from the board of Private Equity Investor (PEQ) at the end of April. At the same time she will also step down from a similar role at Robert Walters Plc. However, she remains on the board of four other quoted companies. She spent four years as Chairlady of PEQ, from 2000 to 2004 and has served on the board of the company since 2000.

Alastair Barbour has been appointed to the board of CATCo Reinsurance Opportunities (CAT). He also serves on the board of Standard Life Euro Private Equity (SEP) and he is a non-executive director of Liontrust Asset Management. Liontrust does not run any closed-ended investment companies

Following the issue of cumulative unsecured loan stock at Standard Life UK Smaller Companies (SLS), all four board members have subscribed to the new stock. We like to see such an alignment of interests between directors and shareholders.

Director Buying
AcenciA Debt Strategies (ACN) – M J Gross
Artemis Alpha Trust (ATS) – Andrew Dalrymple
Baillie Gifford Shin Nippon (BGS) – Angus Tulloch
Caledonia Investments (CLDN) – Will Wyatt
Cambian Global Timberland (TREE) – Donald Adamson, William Taylor Spitz, Robert Rickman, Martin Richardson, Colin McGrady
CATCo Reinsurance Opps (CAT) – Anthony Taylor
Crystal Amber (CRS) – Richard Bernstein
F&C Capital & Income (FCI) – John Emly
Fidelity Asian Values (FAS) – Hugh Bolland
Framlington AIM VCT 2 (FAMT) – Christopher Marsh
Income & Growth VCT (IGV) – Colin Hook, Jonathan Cartwright, Maxwell Ward
Investors Capital B Shares (ICTB) – Iain McLaren
M&G High Income (MGHC) Packaged Units – Alex Murray
Murray International (MYI) – Kevin Carter
New Century AIM VCT (NCA) – Ian Mowat
Primary Health Properties (PHP) – Harry Hyman, Dr Ian Rutter
Temple Bar (TMPL) – Richard Jewson, June de Moller, David Webster
Throgmorton (THRG) – Lord Latymer, Eric Stobart, Simon Beart
Utilico Emerging Markets (UEM) – Kevin O’Connor, Garry Madeiros, Anthony Muh, Charles Jilings, Alexander Zagoreos
West Pioneer Properties (WPR) – Nitin Dattani
Witan (WTAN) – R A Bruce, Rory McGrath

Director Selling
Castle Asia Alternative (CASA) – Nigel Rich (holding now zero)
M&G High Income (MGHC) Geared Units – Fred Carr

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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