Unicorn AIM VCT Plc seeks new Non-Executive Director (£25k pa) – would suit lawyer
Launched in 2001, Unicorn AIM VCT plc is the largest AIM-focussed VCT and has a current net asset value of £379m (as of August 2021). It was launched to allow investors the opportunity to benefit from generous tax reliefs while investing in growth companies listed mainly on the AIM market.
The Company’s objective is to provide shareholders with an attractive return from a diversified portfolio of investments, predominantly in the shares of AIM-quoted companies, by maintaining a steady stream of dividend distributions to shareholders from the income and capital gains generated by the portfolio. The investment manager is Unicorn Asset Management, an independent, privately-owned fund manager specialising in the AIM market, who manage the quoted investments under a discretionary mandate.
It is also the objective that the Company should continue to qualify as a venture capital trust, so that shareholders benefit from the taxation advantages that this brings. In order to achieve the Company’s investment objective, the Board has agreed an investment policy which requires the investment manager to identify and invest in a diversified portfolio, predominantly of VCT qualifying companies quoted on AIM that display a majority of the following characteristics: experienced and well-motivated management; products and services supplying growing markets; sound operational and financial controls; and potential for good cash generation to finance ongoing development allied with a progressive dividend policy.
Unicorn AIM VCT plc is seeking a new Non-Executive Director to provide legal challenge and general strategic oversight to ensure that the Trust achieves its primary aim which is to provide shareholders with an attractive return from a diversified portfolio of investments, predominantly in the shares of AIM quoted companies.
Key duties of the new Non-Executive Director include:
- Contributing as a Director towards the Board’s responsibility to serve the interests of stakeholders and bringing independent judgement to issues of strategy, performance, resourcing, and the monitoring of service providers
- Enhancing the range of the Board’s skills, expertise, experience and knowledge
- Maintaining the reputation and profile of the Company
- Contributing to strategy formulation, discussions on competitive positioning, the monitoring and assessment of investment performance, balance sheet management, the assessment of risk and control analysis, and to the maintenance and development of best corporate governance by the Company generally
- Participating in Board decisions on investment in unquoted companies as recommended by the investment manager from time to time
The successful candidate will bring a background as a senior executive with an in-depth experience of working through commercial legal issues. This can either be as a former lawyer, corporate general counsel or company secretary or as a senior executive with oversight of legal issues within a commercial business. The successful candidate will also bring prior VCT board or governance experience. Financial services experience would be advantageous but is not required.
Fundamental to the Board’s selection will be the candidate’s commercial mindset, personal integrity, team approach and ‘fit’ with the culture of the Board. Leadership experience will also be welcomed.
Please note: The Board is committed to continuing to build on improving its gender and ethnic diversity representation; as such, diversity will be a very important consideration for the Board in its decision-making process.
Required for this role
- Investment trust regulatory expertise In-depth understanding of the regulatory requirements relating to investment trusts or venture capital trusts. This experience may have been gained within a senior executive or non-executive role within an investment trust or VCT, or as an outside party providing audit or compliance services to these organisations.
- Legal expertise In-depth experience of working directly with legal issues. Experience could be either as a lawyer or as a non-lawyer with extensive experience of soliciting legal advice. Candidates will be able to provide counsel on deciding when legal advice needs to be procured.
Tim Woodcock, Chair
Jocelin Harris, Senior Non-Executive Director
Charlotta Ginman, Non-Executive Director
Jeremy Hamer, Non-Executive Director and Chair of the Audit Committee
Terms of appointment
This organisation has requested that candidates do not contact them directly. Instead, if you know someone at the organisation, please mention it in your Reason for Application. Members who do not respect this may risk having their membership terminated
Unicorn AIM VCT is committed to ensuring that its composition reflects both gender and ethnic diversity; as such applications from women and those from an ethnic minority background are particularly encouraged. It welcomes applications from everyone regardless of age, gender, ethnicity, sexual orientation, faith or disability. All appointments will be made on merit, following a fair and transparent process. In line with the Equality Act 2010, however, the organisation may employ positive action where diverse candidates can demonstrate their ability to perform the role equally well.