LONDON - Maven Income and Growth VCT 5 PLC announced the appointment of Brian Phillips as an independent Non-executive Director, effective from January 1, 2025. Phillips brings over 35 years of board-level experience to the table, including roles in industry, private equity investment, and corporate finance. His extensive background includes membership in the Institute of Chartered Accountants of Scotland and participation on the Advisory Boards of Harwood Private Equity.
Phillips currently serves on the board of several companies, including AIM-quoted Tissue Regenix Group Plc and NAHL Group Plc. His portfolio also extends to directorships at Motocaddy Limited, Purple Dragon (Holdings) Limited, and Pet Mate Limited. In his new role at Maven VCT 5, Phillips will contribute to the Audit, Management Engagement, Nomination, Remuneration, and Risk Committees and will stand for election at the Annual General Meeting scheduled for April 29, 2025.
The company also announced the retirement of Gordon Humphries, who has been an independent Non-executive Director since February 7, 2006. Humphries, who also chaired the Audit and Risk Committees, will retire at the conclusion of the 2025 AGM and will not seek re-election. The Board expressed gratitude for Humphries' dedication, particularly noting his oversight in the appointment of Maven Capital Partners (WA:CPAP) UK LLP as Manager and the company's transition to a hybrid investment vehicle. Following his departure, Brian Phillips will assume the role of Chair of the Audit and Risk Committees.
Phillips currently holds no beneficial interest in the company's Ordinary Shares, and there is no further information required to be disclosed under Listing Rule 9.6.13 R in relation to his appointment. The Board is looking forward to Phillips' contributions and wishes Humphries success in his future endeavors.
This leadership transition is based on a press release statement from Maven Income and Growth VCT 5 PLC.
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