City Merchants High Yield Trust appoints Tim Scholefield to its Board as Non-Executive Director and Chairman

– JERSEY, St. Helier – City Merchants High Yield Trust Ltd (LSE:CMHY), of Clive Nicholson’s intention to retire after a decade of service, Mr Nicholson retired at the conclusion of the annual general meeting held today, 15 June 2017. The other directors wish him well in his retirement, and thank him for his valued service over the years.

The Board of the Company is pleased to announce the appointment of Mr Tim Scholefield as a non-executive director and Chairman of the Company from today’s date.

Mr Scholefield was Head of Equities at Baring Asset Management until 2014. He has since developed a small portfolio of non-executive directorships including F&C Capital and Income Trust PLC, Fidelity Asian Values PLC and Standard Life UK Smaller Companies PLC and is an external member of the General Medical Council’s Investment Committee.

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