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Dirs' Dealing InvTst (DDIT)

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Friday 04 December, 2009

Dirs' Dealing InvTst

Statement re new chairman

RNS Number : 6412D
Directors' Dealing Inv.Tst (The)PLC
04 December 2009

Directors' Dealings Investment Trust PLC

New chairman

4 December 2009

Directors' Dealings Investment Trust PLC ("DDIT") announces that, as a consequence of the appointment of Midas Investment Management Limited ("Midas") as investment manager which was announced earlier today, Liam Murray has been appointed Chairman of DDIT.  Brett Miller who remains a director of DDIT is also a director of another fund managed by Midas.  The Listing Rules require that the chairman of a listed investment trust cannot be a director of any other fund managed by the same investment manager as that investment trust.

The Listing Rules also require that a majority of the board should be independent of the investment manager. As Brett Miller is not deemed to be independent of the manager and there are only two directors at present, the board intend to select and appoint an additional director. A further announcement will be made at the completion of the selection process.

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