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30 September 2019
Woodford Patient Capital Trust plc
The Board of Woodford Patient Capital Trust plc (the "Company" or "WPCT") announces the appointment of Raymond Abbott as an independent non-executive director from 1 October 2019.
Raymond joins the Board with strong experience in the investment trust sector and also brings expertise in early stage technology investments. Raymond is the Chairman of Foresight 4 VCT plc, Scottish Building Society and Integrated Environmental Solutions Ltd and he has recently been appointed as Chair of the advisory panel for the North East Fund.
Raymond is an accountant by background, beginning his career at KPMG before pursuing a career in venture capital and private equity, latterly as Managing Director, Alliance Trust Equity Partners. He has experience as a board director and a fund manager with an emphasis on private equity.
The Board also announces that Louise Makin has stated her intention to step down as a non-executive director on 1 October 2019.
Susan Searle, Chair of WPCT, said: "I am pleased to welcome Raymond to the Board of WPCT. His blend of experience across both investment trusts and working with early stage technology businesses means he will be able to add strong and relevant expertise to the Board."
"Louise has played a vital role on the Board since the Company floated four years ago and I would like to thank her for her significant contribution and wish her well for the future. We committed to evolving the Board and Raymond joins Jane Tufnell and Stephen Cohen as appointments to the Board of WPCT with diverse and complementary experience, especially in the investment trust sector."
Ed Berry / Tom Blackwell 0203 727 1046 / 1051
Raymond Abbott currently serves on the Boards of the following publicly quoted companies:
· Foresight 4 VCT plc, Chairman
Raymond Abbott also previously served as a non-executive director of Climate Change Capital Group plc, Meridian Technique Limited, Galleria RTS Ltd and Essex Services Group PLC
Raymond Abbott was a director of High Integrity Solutions, an Investee company which entered into liquidation in 2005.
There is no further information that is required to be disclosed under Listing Rule 9.6.13R.
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