NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
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10 September 2015
Volta Finance Limited ("Volta" or "the Company") today announces that Jim Gilligan, Chairman of the Company, has notified the Board of his intention to step down from the Board at the Company's forthcoming AGM.
The Company, through its Nominations Committee, has previously engaged in succession planning and the other Board members have come to the view that Paul Meader, current Senior Independent Director of the Company, has the qualities, expertise and relevant experience required to take over as Chairman. Mr Meader has agreed to succeed Mr Gilligan as Chairman and, accordingly, the Board will be proposing at the AGM that Paul Meader takes over as Chairman of Volta from that date and Mr Meader will be putting himself forward for re-election by shareholders.
Mr Gilligan comments as follows "I have greatly enjoyed my 5 years as Volta Chairman. However, as I am in my 65th year with a daughter and new granddaughter in Australia, I have decided to cut back on my Non-Executive roles. I am pleased to note that my Board colleagues have recognised the strong contribution and expertise demonstrated by Paul Meader since he joined the Board in May last year and would fully endorse their decision to nominate Paul Meader as the new Chairman."
The Board has agreed that Paul Varotsis will succeed Mr Meader in the role of Senior Independent Director.
The Company, through its Nominations Committee, has commenced a selection and interview process to appoint a new independent non-executive director to maintain the board composition at five independent directors once Mr Gilligan has resigned. On successful completion of this process the Company will make the appropriate announcement of the new appointee.
For further information, please contact:
Liberum Capital Limited
+44 20 3100 2222
Richard Bootle
Jonathan Wilkes-Green
Sanne Group (Company Secretary and Portfolio Administrator)
+44 1481 710 557
AXA Investment Managers Paris (Investment Manager)
+33 1 44 45 84 47
Serge Demay
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ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities. Volta's home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.
Volta's investment objectives are to preserve capital and to provide a stable stream of income to its shareholders through dividends. Volta seeks to attain its investment objectives predominantly through diversified investments in structured finance assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; and, automobile loans. The Company's approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such underlying assets. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.
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This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are "U.S. persons" for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. The company does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.
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This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.
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