HedgeServ Limited (“the Firm”) subscribes to the Irish Funds Corporate Governance Code for Fund Service Providers (“the Code”), a voluntary Code that is designed to give a framework for good practice of corporate governance and oversight to Administrators, Custodians and Depositaries authorised and regulated by the Central Bank of Ireland.

Section 8.1 of the Code covers the frequency, format and recording of Board meetings and sets out that “Physical attendance by Board members at each Board meeting is recommended, and a minimum of one meeting must be held in person on an annual basis.”

The Firm would like to clarify that the following Board members in situ for the complete calendar year attended the 2016 and 2017 Board meetings by teleconference for reasons of geographical distance from the Board meeting location:

  • Eugene Mannella

The Board is satisfied that Mr. Mannella has effectively contributed to the Board and discharged his obligations as a director remotely.

For clarity, any future explanations regarding the Firm’s application of the Code will be detailed in the Director’s Report to the annual audited Financial Statements.

25 July 2018