Phaunos Timber Fund names Richard Hills as Senior Independent Director

– GUERNSEY – The Board of Phaunos Timber Fund Limited is pleased to announce the appointment of Richard Hills as Senior Independent Director. Mr Hills was appointed to the Board of Phaunos Timber Fund Limited on 23 August 2012.

Mr Hills has substantial investment experience having held senior positions at Henderson Global Investors plc and Aberdeen Asset Management plc. He chairs the Aztec Group Ltd which is one of the largest Channel Islands private equity fund administrators, and is on the board of Cinven Ltd, a major European private equity house. He is currently a director of three investment trusts: JP Morgan Income & Capital plc, Henderson Global Trust plc and Strategic Equity Capital plc where he will take over the Chair with effect from September 2014.

About Phaunos Timber Fund

Phaunos is a Guernsey-domiciled closed-ended investment company authorised by the GFSC. Its ordinary shares are listed on the Main Market of the London Stock Exchange. The Company is self-managed. Its investment objective is to provide shareholders with attractive long term total returns, expected to be in the form of capital appreciation but with some income, through a diversified portfolio of timberland and timber-related investments.

The Company’s portfolio consists of timberland and timber-related investments across 6 continents.

The Company intends to seek investments that meet or exceed the guidelines set out in the Sustainable Forestry Initiative and, wherever possible and practicable, to certify the lands under the Forest Stewardship Council guidelines.

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