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| TIDM | IBT |
| Share Price | 1,114.24p-0.90% |
| Market Cap | £461.11m |
Effective 20 November 2023, International Biotechnology Trust PLC appointed Schroder Unit Trusts Limited as its Fund Manager and Alternative Investment Fund Manager. Ailsa Craig and Marek Poszepczynski joined Schroder Investment Management Limited from SV Health Partners LLP and will continue as the Company's portfolio managers. The Company also terminated its Depositary agreement with Northern Trust Company, appointing HSBC Bank plc as its new Depositary, and designated Schroder Investment Management Limited as Company Secretary, with its registered office address set to change.
| Date | 20 Nov 2023 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 3995T |
20 November 2023
INTERNATIONAL BIOTECHNOLOGY TRUST PLC
("IBT" or the "Company")
Update on Fund Management arrangements and related services
Further to the Company's previous announcements, the Board is pleased to report that with effect from 20 November 2023:
· Schroder Unit Trusts Limited ("SUTL") has been appointed as the Company's Fund Manager and Alternative Investment Fund Manager ("AIFM").
· Ailsa Craig and Marek Poszepczynski have joined Schroder Investment Management Limited ("SIML", a sister company to SUTL) from SV Health Partners LLP and will continue as the Company's portfolio managers.
· The Depositary agreement with Northern Trust Company has been terminated and the Company's new Depositary will be HSBC Bank plc.
· The Company's website is www.schroders.com/IBT.
· SIML has been appointed as Company Secretary and can be contacted at [email protected].
· The registered office address of the Company is set to change to 1 London Wall Place, London EC2Y 5AU.
For further information, please contact:
Fund Manager - SUTL
Augustine Chipungu +44 (0) 20 7658 2106
Corporate Broker - Deutsche Numis
Nathan Brown +44 (0)20 7260 1426 / +44 (0)7795 964 870
Financial PR - KL Communications
Charles Gorman +44 (0)20 3995 6673 / +44 (0) 7795 977 967
LEI: 213800N1QUJ744P76D11