Company Announcements

Jupiter US Smaller Companies PLC (the 'Company')

Legal Entity Identifier: 549300HKKL9K1NY4TW55

Appointment of New Director

The Board of Directors ('the Board') has, for some time, been seeking to appoint a new director with investment management skills to maintain the balance of Board skills and refresh our thinking.  We are delighted to announce that Ms Tina Soderlund-Boley has agreed to join the Board with effect from 1 January 2020.  She has a Swedish law degree and spent 18 years as Head of Sales Institutional and Intermediaries Northern Europe for GAM.  Since then she has continued to focus on cross territory investment in smaller companies.  Her investment experience will be of particular value to the trust.

Board composition

At the Annual General Meeting ('AGM') of the Company held on 26 November 2019, the Board noted the significant number of votes (40.08%) against resolution 3, in respect of the re-election of the Chairman, Mr Gordon Grender. Having consulted with shareholders, the Board is aware that the primary reason behind the number of votes against his re-election is that he has served on the Board for more than nine years. The Board seeks to balance the need for refreshment of its members with the value derived from experience and continuity, particularly in relation to investment experience of the US equity market. In this regard, Mr Grender has unrivalled knowledge of the North American smaller companies market and continues to advise funds and individuals on North American investments.  Experience of investing in North America is vital to the success of the Company and, as explained in the annual report, the Board follows the AIC Code of Corporate Governance and does not believe the length of service has a bearing on independence. As Chairman, Mr Grender continues to provide a material contribution to the success of the Company.

With the new Board appointment the Board believes it now has an adequate balance of skills as well as experience and continuity.  The Board will continue to keep its composition under review and balance the need for refreshing its composition with the advantage of retaining directors with relevant and sometimes long-standing experience, particularly in our specialist area of US smaller companies.

Shareholders will have noted that Mr Norman Bachop did not offer himself for re-election at the AGM. The Board would like to take this opportunity to thank Mr Bachop for his great contribution to the Company over many years and to wish him a full recovery from ill health.

For further information, please contact:

Magnus Spence   

Head of Investment Trusts and Alternatives

Jupiter Asset Management Limited, Company Secretary

020 3817 1325

6 December 2019

www.jupiteram.com/JUS