Schroder Oriental Income Fund Limited (LON:SOI) has noted the announcement today that International Biotechnology Trust plc (“IBT”) has decided to appoint Schroder Unit Trusts Limited (“Schroders”), the Company’s Alternative Investment Fund Manager (“AIFM”) as its AIFM. As a result of this appointment, Kate Cornish-Bowden has advised the Board that she will resign as a director of the Company prior to Schroders’ appointment as IBT’s AIFM, which is expected in November 2023, in order that she continues to be deemed an independent director of IBT.
The Board is commencing the process of appointing a successor.
Paul Meader, Chairman of Schroder Oriental Income Fund, said:
“On behalf of my fellow Directors, I would like to thank Kate for her significant contribution as a non-executive director over the past five years. We are really sorry to lose her expertise, wisdom and good humour earlier than planned. We wish her well.”
