- Law Debenture Corporation group managing director Caroline Banszky intends to retire by 31 October.

Chairman Christopher Smith said: "Caroline Banszky has been our managing director for over 13 years. Under her stewardship, the independent fiduciary services businesses - which are an integral part of Law Debenture's unique offering - have diversified and grown profitably.

"The businesses have delivered significant income for the investment trust, which has enabled the board to maintain or increase the dividend every year that Caroline has been Managing Director, even during periods when markets have suffered major downturns. She has worked tirelessly on behalf of shareholders to ensure that Law Debenture has maintained its reputation for innovation, independence and reliability.

"Law Debenture therefore delivered during Caroline's tenure on its objective to achieve long term capital growth and steadily increasing income.

"I would like to place on record the board's appreciation for Caroline's long and distinguished service." The nominations committee will now conduct a process to identify a replacement and a further announcement will follow in due course.

At 8:02am: [LON:LWDB] Law Debenture Corporation the share price was +3.63p at 473.13p

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