Herald Investment Trust PLC Appointment of non-executive director (5306W)
13 Décembre 2023 - 8:00AM
UK Regulatory
TIDMHRI
RNS Number : 5306W
Herald Investment Trust PLC
13 December 2023
Herald Investment Trust plc (the "Company" or " Herald")
LEI number: 213800U7G1ROCTJYRR70
Appointment of Priya Guha MBE as a non-executive director
Following a comprehensive selection process, conducted using an
independent third-party search firm, the Company is pleased to
announce the appointment of Priya Guha MBE as an independent
non-executive director of the Company with immediate effect.
Priya has a portfolio of roles across the global and UK
technology and innovation landscape including as a non-executive
director at UK Research & Innovation and Digital Catapult, a
venture partner at Merian Ventures, a San Francisco based venture
capital fund, and an advisor to various start-up companies
including Kheiron Medical Technologies and Gallos Technologies. She
is also a non-executive director at Reach PLC.
Priya was awarded an MBE in 2021 for services to international
trade and women in innovation. Priya holds a BA in Social and
Political Sciences from the University of Cambridge.
There is no other information required to be disclosed under
section 9.6.13 of the Listing Rules in respect of Priya Guha.
Andrew Joy, Chairman of Herald, said: " Herald Investment Trust
invests in smaller quoted companies in the technology and
communications sectors, in the UK and internationally. Priya brings
knowledge of the global technology sector, and valuable experience
in both public and private sectors, to the Board at a time when it
is as essential as ever that the UK Stock Exchange remains an
effective market for smaller tech companies."
13 December 2023
About Herald Investment Trust
Herald Investment Trust invests globally in the excellent
opportunities available in the smaller quoted technology and
communications sectors. The Company was established in 1994 and
raised GBP65 million on launch and a further GBP30 million in 1996.
No further capital has been raised.
Since inception Herald has delivered a 22x NAV total return -
with the NAV per share, on a total return basis, having compounded
at an annualised rate of 11.0%. Herald has grown to become a
constituent of the FTSE 250 index with total assets of
approximately GBP1.1 billion. The Company is currently ungeared and
has also returned in excess of GBP300 million to shareholders
through share buy backs - a multiple of its original capital.
The Board believes that this outstanding performance is
primarily attributable to the Company's distinctive investment
strategy which is focused entirely on smaller quoted companies in
the global technology and communications sectors. This strategy
requires specialist expertise, an extensive network and sound
investment judgement from the Investment Manager. Target companies
within the Company's investible universe often receive very limited
institutional investor participation, creating opportunities for
the Investment Manager to find excellent companies at attractive
valuations, and to support them as they grow.
HIT occupies a unique position as the only investment trust
offering expert access to such a wide range of small and micro
technology and communications stocks to both retail investors and
institutions, and performs a vital (and very successful) role in
enabling the returns from such companies to be shared by a wide
range of investors.
Since inception, the Company has invested approximately GBP660
million of primary capital, of which over GBP500 million has been
invested in UK listed and AIM companies. In addition to providing
outstanding returns to shareholders, the Company's initial capital
has been reinvested multiple times providing much needed capital to
a growth sector of the UK economy, helping to build businesses,
create skilled jobs and enhance the UK's productivity. Of the total
profits of approximately GBP1.4 billion made by the Company since
1994, over GBP900 million is attributable to UK listed investments
and AIM stocks.
For further information contact:
Apex Listed Companies Services (UK)
Limited 020 3327 9720
Company Secretary
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END
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