Ediston Property Inv Comp PLC Director Declaration (5745C)
02 October 2018 - 12:00AM
UK Regulatory
TIDMEPIC
RNS Number : 5745C
Ediston Property Inv Comp PLC
01 October 2018
To: RNS
From: Ediston Property Investment Company plc
LEI: 213800JRL87EGX9TUI28
Date: 01 October 2018
Director Declaration
In accordance with Listing Rule 9.6.14, Ediston Property
Investment Company plc ('the Company') advises that Jamie Skinner,
a non-executive Director of the Company, has notified the Board
that he, in his former capacity as one of the lay trustees of the
Martin Currie pension scheme, has been the subject of public
criticism by The Pensions Regulator ('the Regulator') (albeit not
personally named) pursuant to a Section 89 intervention report
issued on 28 September 2018.
The report relates to the Regulator's investigation into the
status of the scheme following the acquisition of the Martin Currie
group by Legg Mason in 2014, and the management of the potential
conflict of interest of the lay trustees as shareholders in the
group being sold (which were addressed at the time by excluding
them from the sale negotiations). As part of the Regulator's
intervention, a new independent professional trustee was appointed
and Mr Skinner, as a conflicted lay trustee, stepped down and
agreed to refrain from taking on other occupational pension scheme
trusteeships.
The Regulator has now granted final clearance to the
improvements for scheme members agreed by the Martin Currie group
since the Regulator's intervention.
For further information please contact:
Donald Cameron
Maitland Administration Services (Scotland) Limited
0131 550 3765
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END
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