We have a strong and independent board, comprising the chairman and four other non-executive directors. Between them, the directors have a broad range of experience, including real estate, healthcare, financial markets and corporate finance.

We recognise the importance of good governance and have committed to complying with the AIC Code of Corporate Governance, except that as an externally managed company we will not have remuneration or nomination committees. We also voluntarily comply with the provisions of a number of the Listing Rules, which are not compulsory for shares admitted to the Specialist Fund Segment of the Main Market.

Board of Directors

The Directors are responsible for managing our business affairs in accordance with our articles of association and have overall responsibility for our activities. The Directors may delegate certain functions to other parties such as the administrator, the company secretary and the registrar. The Directors are responsible for supervising the appointed service providers.

Rupert Barclay (Chairman) (Independent non-executive)
Rupert is a chartered accountant with almost 30 years’ experience as a strategy consultant specialising in strategic decision support for companies and private equity firms. He is currently managing partner of Cairneagle Associates LLP.

Prior to joining Cairneagle Associates, Rupert spent ten years at LEK Consulting, the last five as a partner, working on a wide variety of strategic and M&A assignments in various industries. Following LEK Consulting, he went on to take senior management positions at two top 50 UK companies, Allied Domecq plc (where he served as director of group strategy from 1997 to 1999, with responsibility for the group’s corporate development and the strategic planning for the group’s global spirits and retail businesses) and Reuters Group plc (where he was director of group strategy development and led the group’s team in the US$3.5 billion flotation of Instinet on Nasdaq in May 2001).

Mr. Barclay has an MA in Classics from Cambridge, an MBA with Distinction from INSEAD and is a Fellow of the Institute of Chartered Accountants in England & Wales.

Rupert also has a range of experience serving as chairman, chairman of the audit committee and as non-executive director of listed and quoted companies including Sanditon Investment Trust plc, where he currently serves as Chairman and Lowland Investment Company plc where he was chairman of the audit committee until his retirement earlier this year.

Rupert has an MA in Classics from Cambridge, an MBA with Distinction from INSEAD and is a Fellow of the Institute of Chartered Accountants in England & Wales.

David Brooks (Audit Committee Chairman) (Independent non-executive)
David worked for Grant Thornton, and its predecessor firms, from 1972, when he joined as an auditor, to 2010 when he retired as national Head of M&A. He previously served as Head of London Lead Advisory and Joint Head of National Corporate Finance. During his career at Grant Thornton, David advised on over 100 UK mid-market M&A transactions and specialised in the healthcare sector.

David serves as a non-executive on a number of private company boards,

including Durkan Ltd, which specialises in social housing. He previously served on the board of Balhousie Care Group Ltd. He qualified as a chartered accountant in 1972 and is a member of the Institute of Chartered Accountants in England & Wales.

Philip Hall (Independent non-executive)
Mr. Hall is a chartered surveyor with over 30 years of experience, with 20 of those in the healthcare sector. He is currently Jones Lang LaSalle’s chairman for healthcare and has advised on primary healthcare premises, residential care and nursing homes (including those for learning disabilities/mental health clients), hospitals, extra care, domiciliary care and dental practices/dental laboratories. He has also advised more broadly in the social care sector, including on children’s homes and day nurseries. In particular, he has advised on the restructuring of Southern Cross and its legacy and was a member of its landlord committee which steered the wind up of Southern Cross and the transfer of its residents and staff to new operators. He has also advised on a number of lease and loan restructuring transactions, capital expenditure programmes and turnaround strategies and has been involved in the acquisition/disposal of each of the Caring Homes, Richmond Villages and Canford Care groups.

Before joining Jones Lang LaSalle, Mr. Hall founded, and was managing director of, Taylors Business Surveyors and Valuers Ltd, a chartered surveying company. He sold the business after developing the company into one of the top 60 UK surveying companies. In addition, Mr. Hall is the author of “The Valuation of Care Homes, Valuation: Principles into Practice”, which was published in 2008. He is a member of the Royal Institute of Chartered Surveyors.

Rosemary Boot (independent) (aged 54)
Rosemary Boot recently served as the chief financial officer of Future Cities Catapult, one of a network of technology and innovation centres established by the UK Government. She has also previously served as an executive director and strategy adviser at a housing association, Circle Housing Group, and as group finance director of the Carbon Trust, an independent company set up in 2001 to work with business and the public sector to accelerate the move to a sustainable, low carbon economy. Ms. Boot was also involved in setting up the government-owned Low Carbon Contracts Company and Electricity Settlements Company.

Previously, Ms. Boot worked for 16 years as an investment banker at UBS Warburg, primarily advising large listed UK companies on corporate finance matters. She is a non-executive director of Southern Water, a governor of the Conservatoire for Dance and Drama and a trustee of the environmental think tank, the Green Alliance.

Paul Craig (Non-executive)
Paul is a portfolio manager at Old Mutual Global Investors. He has over 20 years of investment experience, including 10 years at Exeter Investment Group, six years at New Star Asset Management as a director of the asset management subsidiary, and six years as a director within the multi-manager investment team at Henderson Global Investors. Over the past 18 years, Paul's focus has been on multi-manager products, with an emphasis on closed-ended funds.

Paul is currently a non-executive director of The Diverse Income Trust plc, Ground Rents Income Fund plc and Hadrian's Wall Secured Investments Limited, and is an associate of the UK Society for Investment Professionals. Old Mutual Global Investors has an interest in the Company through funds managed by Paul.