14th Jun 2019 13:31
(Alliance News) - Closed-ended investment company UIL Ltd on Friday said two of its non-executive directors will step down following the publication of its annual report.
Eric Stobart, who has been on UIL's board since 2007, and Warren McLeland, who joined the board in 2013, will step down following the publication of UIL's report and accounts for its year ending June 30. These are due to be published in September.
UIL's nomination committee will begin the recruitment process to appoint a new non-executive director, who will also replace Stobart as chair of its audit & risk committee, at which point the board will have five directors.
Shares in UIL were down 0.8% at 195.00 pence on Friday afternoon.
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