Global Resources Investment Trust appoints Nicholas Paris to the Board as Non-Executive Director

– UK – Global Resources Investment Trust plc announces the following changes to its Board of Directors with immediate effect as follows:

James Williams yesterday resigned from the Board after serving as a non-executive director since 27 February 2014.

Nicholas Paris will join the Board as a non-executive Director with immediate effect. He is a specialist in investing in closed end investment funds and is a Director and Portfolio Manager at LIM Advisors (London) Limited, a wholly owned company within the LIM Group which manages LIM Asia Multi-Strategy Fund Inc. He is also a Chartered Accountant and a Chartered Alternative Investment Analyst. 

Nicholas Paris was previously a non-executive director of TAU Capital PLC and The India I.T. Fund Limited. 

Pursuant to a side letter dated 26 February 2014 from GRIT to LIM Asia Multi-Strategy Fund Inc. pursuant to which GRIT has, in consideration for LIM Asia Multi-Strategy Fund Inc. entering into a subscription agreement in connection with GRIT’s IPO, agreed that for so long as LIM Asia Multi-Strategy Fund Inc. and/or its nominees hold not less than 50 per cent. of the outstanding loan notes issued in connection with GRIT’s IPO, they shall have the right to appoint and maintain in office such natural person as they may from time to time nominate as a director of GRIT and as a member of each and any committee of the board of directors of GRIT (including without limitation the annual expense and budgeting committee) and, upon his removal or resignation, to appoint another director of GRIT in his place.

James Williams was appointed as a director of GRIT in accordance with the above side letter, and Nicholas Paris has been appointed as his replacement.

The Chairman, Anthony St. John, thanked James Williams for his contributions and welcomed Nicholas Paris to the Board.