TIDMDGI9
RNS Number : 7209W
Digital 9 Infrastructure PLC
14 December 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
14 December 2023
DIGITAL 9 INFRASTRUCTURE PLC
("D9" or the "Company" and, together with its subsidiaries, the
"Group")
Directorate Changes and Board Composition
The Board of Directors of Digital 9 Infrastructure plc (the
"Board") is pleased to announce the appointments of Mr. Richard
Boléat and Mr. Brett Miller as Independent Non-Executive Directors
of the Company.
The appointments conclude the independent recruitment process
for independent directors with complementary skillsets and
experience to support the Board in progressing the Company's
Strategic Review (the "Strategic Review"), initiated on 27 November
2023.
Richard is a seasoned corporate governance and investment
management professional and has held several investment company
directorships. Brett has wide ranging closed end fund and
investment trust/investment company experience both as an investor
and in managing or serving on boards of closed ended funds.
Richard and Brett's appointments are subject to the approval of
the Jersey Financial Services Commission ("JFSC") which is expected
in due course.
Board Composition
Following an assessment of the skills and experience that may be
required for the Company to progress the Strategic Review, the
Board also announces that Phil Jordan and Lisa Harrington have
decided to step down from their respective roles as Independent
Chair and Senior Independent Director of the Company with immediate
effect. As a result, the Board has reviewed its composition and has
made the following changes:
-- Ms. Charlotte Valeur is appointed Interim Independent Chair
and will remain as Independent Chair of the Risk Committee.
-- Ms. Gailina Liew is appointed Senior Independent Director and
Independent Chair of the Nomination Committee.
-- Mr. Keith Mansfield and Mr. Aaron Le Cornu remain Independent
Chairs of the Audit and Management Engagement Committees,
respectively.
-- Mr. Richard Boléat is appointed member of the Audit, Risk and
Management Engagement Committees, following JSFC approval.
-- Mr. Brett Miller is appointed member of the Nomination and
Management Engagement Committees, following JFSC approval.
With Richard and Brett's additional oversight, and with the
support of its financial and legal advisers, the Board intends to
provide an update on the Strategic Review in early 2024. The
Company's investment manager, Triple Point Investment Management
LLP, has informed the Board that the sale of Verne Global is on
track to complete by the end of Q1 2024.
The Board intends to appoint a permanent Independent Chair by
the time of the Company's next Annual General Meeting ("AGM") in
May 2024. All Independent Non-Executive Directors will also be
subject to customary shareholder approval at the Company's AGM.
Charlotte Valeur, Interim Independent Chair, said: "We are
pleased to welcome Richard and Brett to the Board. Both bring
considerable investment company and corporate finance experience as
complementary expertise to the Board, which will support us in
progressing the Company's Strategic Review. On the Board's behalf,
I would like to thank Lisa for her contribution and commitment to
Digital 9 and Phil for his invaluable leadership of the Board
during a critical period for the Company and its shareholders. As a
Board, we remain committed to completing the sale of Verne Global
and expediting the Strategic Review to further maximise shareholder
value."
About Mr. Richard Boléat
Richard is currently Non-Executive Chairman of CVC Credit
Partners European Opportunities Limited and is Independent Director
of M&G Credit Income Investment Trust Plc and Third Point
Investors Limited. In respect of FCA Listing Rule 9.6.13(1),
Richard's previous directorships in the last five years include
Aseana Properties Limited, Yatra Capital Limited, and SME Credit
Realisation Fund Limited. Richard currently holds 65,000 shares in
the Company as of 13 December 2023.
About Mr. Brett Miller
Brett is currently Director of Manchester and London Investment
Trust Plc and SLF Realisation Fund Limited. He has been involved
(as executive and non-executive director) in the management of
numerous LSE and AIM listed closed end funds across a wide range of
asset classes. In respect of FCA Listing Rule 9.6.13(1), Brett's
previous directorships in the last five years include The Local
Shopping REIT Plc and HWSI Realisation Fund Limited. Brett
currently holds 200,000 shares in the Company as of 13 December
2023.
There are no other details requiring disclosure under FCA
Listing Rule 9.6.13 in relation to Richard Boléat and Brett
Miller.
ENDS.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
J.P. Morgan Cazenove (Joint Corporate
Broker)
William Simmonds
Jérémie Birnbaum +44 (0)20 7742 4000
Peel Hunt (Joint Corporate Broker)
Luke Simpson
Huw Jeremy +44 (0) 20 7418 8900
FTI Consulting (Communications Adviser) dgi9@fticonsulting.com
Mitch Barltrop +44 (0) 7807 296 032
Maxime Lopes +44 (0) 7890 896 777
The person responsible for making this notification is Helen
Richardson, Company Secretary.
LEI: 213800OQLX64UNS38U92
About Digital 9 Infrastructure plc:
Digital 9 Infrastructure plc (DGI9) is an investment trust
listed on the London Stock Exchange and a constituent of the FTSE
250, with the ticker DGI9. The Company invests in the
infrastructure of the internet that underpins the world's digital
economy: digital infrastructure.
The Investment Manager is Triple Point Investment Management LLP
("Triple Point") which is authorised and regulated by the Financial
Conduct Authority, with extensive experience in infrastructure,
real estate, and private credit, while keeping ESG principles
central to its business mission. Triple Point's Digital
Infrastructure team has over US$300 billion in digital
infrastructure transaction experience and in-depth relationships
across global tech and global telecoms companies.
The number 9 in Digital 9 Infrastructure comes from the UN
Sustainable Development Goal 9, which focuses the fund on
investments that increase connectivity globally and improve the
sustainability of digital infrastructure. The assets DGI9 invests
in typically comprise scalable platforms and technologies including
(but not limited to) subsea fibre, data centres, terrestrial fibre
and wireless networks.
Since IPO in March 2021, DGI9 has invested in the following data
centres, subsea fibre and wireless network assets (other than Verne
Global):
-- Aqua Comms , a leading owner and operator of 20,000km of the
most modern subsea fibre systems - the backbone of the internet -
with a customer base comprising global tech and global
telecommunications carriers;
-- Arqiva , the only UK national terrestrial television and
radio broadcasting network in the United Kingdom - providing data,
network and communications services, as well as a national IoT
connectivity platform;
-- Elio Networks (previously Host Ireland) a leading enterprise
broadband provider that owns and operates Fixed Wireless Access
networks;
-- EMIC-1 , a partnership with Meta on a 10,000km fibre system from Europe to India;
-- SeaEdge UK1 , a data centre and landing station for the North
Sea Connect subsea cable, part of the North Atlantic Loop subsea
network, improving connectivity between the UK, Ireland,
Scandinavia and North America;
The Company's Ordinary Shares were admitted to trading on the
Specialist Fund Segment of the Main Market of the London Stock
Exchange on 31 March 2021. The Company's Ordinary Shares were
admitted to the premium listing segment of the Official List of the
Financial Conduct Authority and to trading on the premium segment
of the Main Market on 30 August 2022.
For more information on the Investment Manager please visit
www.triplepoint.co.uk . For more information, please visit
www.d9infrastructure.com .
Important Notices
J.P. Morgan Securities plc, which conducts its UK investment
banking business as J.P. Morgan Cazenove and which is authorised in
the United Kingdom by the PRA and regulated in the United Kingdom
by the PRA and the FCA, ("J.P. Morgan Cazenove"), is acting as
financial adviser exclusively to Digital 9 Infrastructure plc and
no one else in connection with the Strategic Review and will not
regard any other person as its client in relation to the Strategic
Review and will not be responsible to anyone other than Digital 9
Infrastructure plc for providing the protections afforded to
clients of J.P. Morgan Cazenove or its affiliates, nor for
providing advice in relation to the Strategic Review or any other
matter or arrangement referred to herein, including, but not
limited to, the Verne Transaction.
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END
BOATIBMTMTMBMFJ
(END) Dow Jones Newswires
December 14, 2023 02:00 ET (07:00 GMT)
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