Progress on constituting a Board of Trustees

15 April 2016

Dear Member,

Progress on constituting a Board of Trustees

Further to my previous letter dated 1 December 2015, I can advise that the following progress has been made.

We have now received approval from the Financial Services Board to an amendment to the Rules which permits the Fund to hold member trustee elections at a time other than the annual general meeting.

The process to nominate candidates for the trustee elections will start in May. Owing to the June recess, it is planned to hold the actual elections, which will be by physical ballot at 7 voting stations, over three days in early August, with the results being announced at the AGM in late August.

A system of special votes and proxy voting will be available for those members who will not be able to vote on the three days set for the actual elections. The eligibility criteria for special votes will be communicated in due course.

The Board will be shortly appointing a service provider to drive and independently monitor the election process.

Yours Faithfully
Jeremy Gill
Principal Officer

Further Notice to Members 2016 04 15