24th Mar 2014 14:49
LONDON (Alliance News) - The Scottish American Investment Co PLC Monday said non-executive Director Rachel Lomax has increased her holding in the company to 35,820 shares, or 0.03% of the company's shares, with the purchase of 82 shares for 241.0 pence each on Friday.
The company later said Lomax has resigned because of new European rules than limit the number of appointments held by people on the boards of significant credit institutions. Lomax is an independent non-executive Director and member of the audit and risk committees at HSBC Holdings PLC.
The new rules, known as the Capital Requirements Directive will be introduced from July 2014.
Scottish American Investment Company shares were Monday quoted at 241.75 pence, up 0.5%.
By Samuel Agini; [email protected]; @samuelagini
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