21st Jul 2020 14:43
(Alliance News) - Pollen Street Secured Lending PLC on Tuesday said David Fisher has resigned as director, with immediate effect, and Michael Cassidy will be assuming the role of chair of the company's risk committee.
The investment trust said it remains in an offer period under the takeover code, and the board will consider the appointment of an additional non-executive director in due course.
PSSL Chair Simon King said: "I should like to thank David for his significant contribution over the past two years, in particular in his role as chair of the company's risk committee and his valuable contribution in recent months as the company navigates a complex period of change."
Last week, Waterfall Asset Management LLC was granted a further extension to the deadline to make a takeover offer for PSSL. Waterfall now has to make the offer by August 11 after the deadline was extended from Tuesday last week.
PSSL said Waterfall remains committed to pursuing the offer, first announced back in February at a price of 900 pence per share.
The company also said last week it has made progress on appointing a new investment manager and expects to make a further announcement about this in August.
PSSL shares were trading flat at 762.00 pence each on Tuesday afternoon in London.
By Greg Roxburgh; [email protected]
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