Hygrovest Limited (ASX: HGV) ("HGV" or the “Company”) is an Australian-listed specialist investment company, which concentrates on producing capital growth for shareholders over the medium term from investments in listed and unlisted equities and other financial assets.

Review of HGV Board Composition

The HGV Board has reviewed the composition of its Board to ensure the continued growth of the Company and continued diversification of its portfolio of investments. Based on that review, it is pleased to announce that two new Directors will be joining the HGV Board as part of an ongoing process of Board renewal.

Consequently, HGV announces the following changes to the composition of its Directors.

New Appointments

The HGV Board has appointed Messrs Warwick Sauer and David Prescott as Independent Non-Executive Directors, effective immediately.

Warwick Sauer will also become a member of the Audit and Risk Committee.

Profiles for each of Messrs Warwick Sauer and David Prescott are attached to this announcement.

Retirements

Both Messrs Winton Willesee and Michael Curtis will retire effective immediately.

Winton Willesee has served on the Company’s Board since 2014 and was a member of the Audit and Risk Committee.

Michael Curtis joined the Company’s Board in January 2019. Michael will remain in his role as Managing Partner of Parallax Ventures Inc. whose current term as HGV’s Investment Manager expires on 30 June 2023.

The remaining continuing Directors, Messrs Peter Wall and Doug Halley, have agreed to remain in place until such time that a new Investment Manager is appointed to HGV. At this time, one or both of Mr Wall and/or Mr Halley have indicated they also intend to resign from the HGV Board.

HGV’s Chairman, Mr Peter Wall noted, “I would like to personally acknowledge Winton and Michael for their considerable efforts and input over a long period and wish both of them well. I also welcome Warwick and David who collectively bring extensive experience in investment management, corporate governance and regulatory compliance to assist the Company build shareholder value.”

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