VOLTA FINANCE - ANNOUNCEMENT OF CHAIRMAN APPOINTMENT
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES
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BOARD OF DIRECTORS APPOINT JAMES GILLIGAN AS INDEPENDENT NON-EXECUTIVE CHAIRMAN
St Peter Port, Guernsey - 31 March 2010 - The Board of Volta Finance Limited
(Euronext: VTA) today announces that at its meeting held on 23 March 2010, Volta
Finance Limited's Board of Directors unanimously agreed to appoint James
Gilligan as independent non-executive Chairman of the Board effective from 30
April 2010 to fill the vacancy created by the resignation of Peter Crook. This
appointment will be placed on the agenda for shareholder approval at the next
Annual General Meeting.
Mr Gilligan began his career with the Civil Service in his native Scotland then
moved to Guernsey in 1970 joining the Guernsey Income tax office. In 1974 he
joined the Private Bank Kleinwort Benson in Guernsey. He undertook various roles
during his long career at the bank and he was Managing Director of the Guernsey
Branch at the time of his retirement at the end of 2006. Mr Gilligan is a Fellow
of the Chartered Institute of Bankers and an Ex-President of the Guernsey Centre
of the Chartered Institute of Bankers. He was also an Ex-Chairman of the
Association of Guernsey Banks. He is a member of The Society of Trust and Estate
Practitioners (retired). Mr Gilligan is Chairman of Guernsey Finance LBG the
entity charged with the promotion of Guernsey as an International Finance Centre
and also in this capacity he sits on the Finance Sector Group dealing with the
strategic development of the finance sector in Guernsey.
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ABOUT VOLTA FINANCE LIMITED
Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey)
Laws, 1994 to 1996 (as amended) and listed on Euronext Amsterdam. Its investment
objectives are to preserve capital and to provide a stable stream of income to
its shareholders through dividends. For this purpose, it pursues a multi-asset
investment strategy targeting various underlying assets. The assets that the
Company may invest in either directly or indirectly include, but are not limited
to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage
loans; automobile loans. Volta Finance Limited's basic approach to its
underlying assets is through vehicles and arrangements that provide leveraged
exposure to some of those underlying assets.
Volta Finance Limited has appointed AXA Investment Managers Paris, an investment
management company with a division specialised in structured credit, for the
investment management of all its assets.
ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company
within the AXA Group, a global leader in financial protection and wealth
management. AXA IM is one of the largest European-based asset managers with
nearly ?500 billion in assets under management as of the end of December 2009.
AXA IM employs approximately 2,857 people around the world and operates out
of 21 countries.
CONTACTS
Company Secretary
Mourant Guernsey Limited
volta.finance@mourant.com
+44 (0) 1481 715601
Portfolio Administrator
Deutsche Bank
voltaadmin@list.db.com
For the Investment Manager
AXA Investment Managers Paris
Serge Demay
serge.demay@axa-im.com
+33 (0) 1 44 45 84 47
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This press release is for information only and does not constitute an invitation
or inducement to acquire shares in Volta Finance. Its circulation may be
prohibited in certain jurisdictions and no recipient may circulate copies of
this document in breach of such limitations or restrictions.
This press release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
with the United States Securities and Exchange Commission or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "Securities
Act"). Volta Finance has not registered, and does not intend to register, any
portion of any offering of its securities in the United States or to conduct a
public offering of any securities in the United States.
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This document is being distributed by Volta Finance Limited in the United
Kingdom only to investment professionals falling within article 19(5) of the
Financial Services and Market Act 2000 (Financial Promotion) Order 2005 (the
"Order") or high net worth companies and other persons to whom it may lawfully
be communicated, falling within article 49(2)(A) to (E) of the Order ("Relevant
persons"). The shares are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire the shares will be engaged
only with, relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its contents. Past performance cannot be
relied on as a guide to future performance.
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This press release contains statements that are, or may deemed to be,
"forward-looking statements". These forward-looking statements can be identified
by the use of forward-looking terminology, including the terms "believes",
"anticipated", "expects", "intends", "is/are expected", "may", "will" or
"should". They include the statements regarding the level of the dividend, the
current market context and its impact on the long-term return of Volta's
investments. By their nature, forward-looking statements involve risks and
uncertainties and readers are cautioned that any such forward-looking statements
are not guarantees of future performance. Volta Finance's actual results,
portfolio composition and performance may differ materially from the impression
created by the forward-looking statements. Volta Finance does not undertake any
obligation to publicly update or revise forward-looking statements.
Any target information is based on certain assumptions as to future events which
may not prove to be realised. Due to the uncertainty surrounding these future
events, the targets are not intended to be and should not be regarded as profits
or earnings or any other type of forecasts. There can be no assurance that any
of these targets will be achieved. In addition, no assurance can be given that
the investment objective will be achieved.
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