Directorate Change

RNS Number : 0289D

Scottish American Investment Co PLC

24 March 2014

 

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C.

Resignation of Director

The Board announces that Rachel Lomax has decided not to offer herself for re-election as a Director of the Company at the AGM on 3 April 2014. Ms Lomax is obliged to step down as a result of the imminent introduction (July 2014) of European rules under the Capital Requirements Directive. The Directive limits the number of board appointments held by those who serve on the boards of significant credit institutions.  Rachel Lomax also serves, and will continue to serve, as a Director of HSBC Holdings which is deemed to be a significant credit institution. 

There is no further information required to be disclosed under Listing Rule 9.6.13.

The Chairman of SAINTS, Sir Brian Ivory, said "I am very sorry to see Rachel step down. She has been an invaluable Director and the Board and Managers will miss her knowledgeable contributions to discussions and debates."
 

Baillie Gifford & Co

Company Secretaries

 24 March 2014

 

END

 

 

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