Foresight VCT names two non-exec directors amid succession plans

(Alliance News) - Foresight VCT PLC on Thursday appointed David Ford and Dan Sandhu as non-executive directors, effective from January.

London-based Foresight VCT is a venture capital trust investing in early stage companies.

Ford and Sandhu will be appointed as members of the Audit, Management Engagement, Nomination and Remuneration Committees.

Foresight VCT said this temporary increase in board directors will facilitate its succession process over the next 18 months, during which two of the longer standing directors will be retiring. Foresight VCT intends to revert to four directors in 2024.

Ford was formerly an investment director in equities for Prudential Capital Group, and in fixed income for Intermediate Capital Group. He sits as a non-executive director on the boards of a number of small early-stage companies.

Sandhu has grown both well-established and start-up companies funded by private equity. He has been CEO of Sparx Learning since 2018, a provider of educational technology to UK schools.

Sandhu is also an investor in early-stage businesses and was a founding member of Indian Angel Network in New Delhi, India. The network is group of primarily Indian angel investors funding early-stage startups.

Foresight VCT shares were untraded in London on Thursday, but closed at 75.50 pence on Wednesday.

By Jaskeet Briah; [e-mail]

Copyright 2022 Alliance News Limited. All Rights Reserved.