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Appointment of New Director

8/9/2020, 1:29 pm ADMIN

NZX RELEASE8 September 2020

Appointment of New Director

Asset Plus Limited (NZX: APL) announces the appointment of John McBain as a director of Asset Plus.

John McBain is the Joint CEO of the Centuria Group, the parent company of Augusta Capital Limited, the largest shareholder in Asset Plus. He replaces Paul Duffy as the Manager’s nominated representative on the Board of Asset Plus. Paul Duffy will remain as a Non-Executive Director, at the request of the Asset Plus Board.

Given John McBain’s shareholding in and directorship of Centuria Capital Group and its New Zealand subsidiaries, including Augusta Capital Limited and Augusta Funds Management Limited, the Board has determined that Mr McBain is not an independent director. The Board has also determined that Paul Duffy is not an independent director given he remains a director of Asset Plus’ manager, Augusta Funds Management Limited.

-ENDS-

For further information contact:

Bruce Cotterill
Chair, Asset Plus Limited
Mobile: +64 21 668 881