Oakley Capital Investments Limited Board Changes (3400A)
September 11 2018 - 1:01AM
UK Regulatory
TIDMOCI
RNS Number : 3400A
Oakley Capital Investments Limited
11 September 2018
11 September 2018
Oakley Capital Investments Limited
Board Changes
Oakley Capital Investments Limited (AIM:OCI; "the Company" or
"OCI"), which provides investors with access to the investment
strategy pursued by the Oakley Funds, today announces that after 11
years as Chairman of OCI, Christopher Wetherhill has informed the
Board of his wish to retire and step down as a Director. Following
this, Caroline Foulger, currently a non-executive director of the
Company, has been appointed Chairperson of OCI. Caroline joined the
Board of OCI in July 2016 and has chaired the Risk Committee since
that time.
The Company is also pleased to announce that Stewart Porter has
agreed to join the Board as a non-executive director. Stewart has
over 40 years of operational experience, both within private equity
and TMT businesses, the latter being one of Oakley's three core
sectors for investment. During his career, Stewart has held
positions as COO and CFO at Wilkinson Sword and TI Group, as well
as Director of Finance & Business Development for Global
Markets at Cable & Wireless. Stewart was a founder and CFO of
Pipex Communications plc. Stewart was instrumental in the
development and successful sale of the Pipex group, helping it to
grow from early stage start-up in 2000 to a business with over
GBP400 million of revenues in 2009, mainly driven by a series of 14
acquisitions. Stewart recently retired as COO of Oakley Capital
Limited. Stewart is expected to be appointed to the Board on 24
September. A further announcement confirming his appointment will
be made as soon as possible and will include the disclosures
required by Schedule 2(g) of the AIM Rules for Companies.
Caroline's appointment as Chairperson is made with immediate
effect. The Board will continue to review its governance structures
and intends to appoint a further independent non-executive director
in due course.
Caroline Foulger, Chairperson of Oakley Capital Investments
Limited, said today:
"I would like to thank Chris for his significant contribution
over the last 11 years and, in particular, the recent steps taken
to enhance governance and structure for the benefit of
shareholders, which are still ongoing. I look forward to continuing
that work and building upon the developments to date.
"Stewart brings invaluable knowledge of the TMT and private
equity sectors to the Board and we look forward to benefiting from
his considerable experience as he joins us as a Board member."
Peter Dubens, Managing Partner, Oakley Capital Limited,
commented:
"We are grateful for Chris' work with OCI over the last decade
and wish him well going forwards. We are confident that the Board
is well-positioned to continue the progress made to date in
progressing key shareholder initiatives."
Christopher Wetherill, out-going Chairman of Oakley Capital
Investments Limited, added:
"My 11 years at OCI have been characterised by investments in
funds with strong performance track records and this has been
reflected in the NAV growth in the past decade and consequently
significant growth in shareholder value.
"More recently, the Board has been in close discussions with
shareholders to ensure OCI's structures and governance are well
prepared for the next ten years and beyond. I wish OCI well for the
future and have every confidence that it will continue its positive
progress under Caroline's leadership."
- ends -
For further information please contact:
Oakley Capital Investments Limited
+44 20 7766 6900
Steven Tredget, Investor Relations
Greenbrook Communications Ltd
+44 20 7952 2000
Alex Jones / Matthew Goodman / Gina Bell
Liberum Capital Limited (Nominated Adviser & Broker)
+44 20 3100 2000
Gillian Martin / Owen Matthews
Notes:
About Oakley Capital Investments ("OCI")
OCI is an AIM listed investment vehicle, which provides access
to the Oakley funds. It is a liquid vehicle that provides capital
growth and dividends to investors.
The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II and Oakley Capital Private Equity
III, are unlisted focused mid-market private equity funds with the
aim of providing investors with significant long-term capital
appreciation. The investment strategy of the funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement
The Investment Adviser
Founded in 2002 Oakley Capital has demonstrated the repeated
ability to acquire attractive growth assets at attractive prices.
To do this they rely on their sector and regional expertise, their
ability to tackle transaction complexity and their deal generating
entrepreneur network.
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END
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