Appointment of non-executive Directors
The Board of the Scottish Oriental Smaller Companies Trust plc (‘the Company’) is pleased to announce the appointment of David Benda and David Graham as non-executive Directors of the Company.
Mr Benda has been appointed as a non-executive Director with effect from 23 April 2026.
Mr Graham has been appointed as a non-executive Director with effect from 8 July 2026.
These appointments follow the announcement made on 28 October 2025 regarding the retirement of Uma Bhugtiar and the Board's ongoing succession planning and phased refresh of its composition.
Mr Benda is an experienced investment banking and investment company specialist, and a qualified accountant. Prior to retiring in 2025 he was a Managing Director, heading up the corporate side of the listed funds team at Deutsche Numis and co-heading the team overall. Having joined Numis in 2008, he advised a diverse group of investment trusts, including several focussed on Asia. Mr Benda is also a non-executive Director of both Ecofin Global Utilities and Infrastructure Trust plc and Albion Technology & General VCT PLC.
Mr Graham is a qualified accountant with over three decades of experience in asset management. He was a Managing Director at BlackRock until 2016 with a focus on Asia Pacific and Emerging Markets for much of his twenty-four years with the firm. Currently, Mr Graham is the Senior Independent Director and Chair of the Audit Committee of JPMorgan China Growth & Income plc, a non-executive Director of Templeton Emerging Markets Investment Trust plc and a non-executive Director of Jio BlackRock Asset Management Limited in India. Also, until recently, he was Chairman of Fidelity Japan Trust PLC.
The Board believes that the appointments of Mr Benda and Mr Graham will further strengthen the breadth of skills and experience on the Board and support the Company's long-term strategy and governance objectives.
As previously announced, the Board continues to maintain a strong focus on succession planning to ensure its long-term continuity and effectiveness. The Board notes that Andrew Baird is due to retire from the Board in July 2026, with Jeremy Whitley retiring in 2027.
There are no further matters to be disclosed pursuant to UK Listing Rule 6.4.8R in relation to either appointment.
Risk factors
Capital at risk. The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
Important Information
This document has been prepared for informational purposes only and is only intended to provide a summary of the subject matter covered and does not purport to be comprehensive. The views expressed are the views of the writer at the time of issue and may change over time. It does not constitute investment advice and/or a recommendation and should not be used as the basis of any investment decision.
This document is not an offer document and does not constitute an offer or invitation or investment recommendation to distribute or purchase securities, shares, units or other interests or to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this document.
Net Asset Value (NAV) performance is not the same as share price performance and shareholders may realise returns that are lower or higher than NAV performance.
This document is confidential and must not be copied, reproduced, circulated or transmitted, in whole or in part, and in any form or by any means without our prior written consent. The information contained within this document has been obtained from sources that we believe to be reliable and accurate at the time of issue but no representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information. We do not accept any liability whatsoever for any loss arising directly or indirectly from any use of this information.
References to "we" or "us" are references to First Sentier Group. In the UK, issued by First Sentier Investors (UK) Funds Limited which is authorised and regulated by the Financial Conduct Authority (registration number 143359). Registered office Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB number 2294743.
Scottish Oriental Smaller Companies Trust plc ("Company") is an investment trust, incorporated in Scotland with registered number SC0156108, whose shares have been admitted to the Official List of the London Stock Exchange plc. The Company is an alternative investment fund and has appointed First Sentier Investors (UK) Funds Limited as the alternative investment fund manager for the Company. Further information is available from Client Services, First Sentier Group, Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB or by telephoning 0800 587 4141 between 9am and 5pm Monday to Friday or by visiting www.scottishoriental.com. Telephone calls with First Sentier Group may be recorded.
First Sentier Group entities referred to in this document are part of First Sentier Group, a member of MUFG, a global financial group. First Sentier Group includes a number of entities in different jurisdictions. MUFG and its subsidiaries do not guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk including loss of income and capital invested.
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