River and Mercantile UK Micro Cap investment trust chair Andrew Chapman has retired, the firm announced this morning (12 March).
Chapman has been on the board since its inception in October 2014, and will be succeeded by non-executive director John Blowers.
It comes following the £55.8m trust’s AGM, held yesterday, at which all resolutions were passed including a continuation vote.
Blowers said: “Andrew has been a constant positive presence since the launch of RMMC, and his experience and wise counsel will be missed. The board wish him well and thank him for his service.”
According to the Association of Investment Companies, the trust currently trades at a 12.5% discount to its net asset value.
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