OAM2681 OVCT 2 Prospectus aw12 - Clubfinance

PART FIVE –
THE BOARD
The Board consists of three directors, two of whom are independent
of Octopus and the other funds that it manages. The Board has
substantial experience of venture capital and renewable energy
businesses and has overall responsibility for Octopus VCT 2 and its
affairs, including its investment policy. The Board has appointed
Octopus as the VCT’s investment manager on a discretionary basis
(save that the approval of the Directors independent of the
Investment Manager will be required in relation to investment/
divestment decisions relating to investment opportunities sourced by
or involving Lightsource). The Board, however, retains the responsibility
for approving both the valuations of the portfolio and the net assets
of the VCT which are calculated and determined by Octopus.
Ian Pearson (Non-Executive Chairman)
Ian is currently engaged in strategy and business development as
Senior Vice President to Global Crossing UK. He is also senior adviser
to Avanti Communications, Maven Capital Partners and MCD
Developments. Until standing down before the general election in
2010, Ian had over nine years experience at a senior level in
government, including important roles as Minister for Climate Change
and the Environment, Minister for Trade, Minister for Science and
Innovation, and a Minister in Northern Ireland. More recently, as
Economic Secretary to the Treasury until May 2010, Ian was at the
heart of the UK’s response to the global financial crisis. Amongst
other things, he was responsible for growth, enterprise and
productivity issues, the EU Budget, where he led negotiations for the
UK, Public/Private Partnerships including Private Finance Initiative, and
Infrastructure UK. Prior to his governmental career, Ian was joint chief
executive of WMEB Group, providing venture and growth capital to
SMEs and consultancy to a range of public and private clients.
Richard Hodgson (Non-Executive Director)
Richard is currently finance director at Green Compliance plc, an AIM
traded company. Prior to this, Richard held positions as chief financial
officer at Reconomy, a private equity backed waste management
company that provided waste management and recycling services
across the UK, as chief financial officer for Triplearc plc, an AIM
traded print management company and as European finance director
for Iron Mountain Europe, an information and records management
company. Richard also spent several years in the music industry
working as a finance director for Universal Music International and
Warner Music International and prior to that Richard qualified as a
chartered accountant whilst working for the financial services group
of Deloittes in London.
Chris Hulatt (Non-Executive Director)
Chris Hulatt is chief financial officer and co-founder of Octopus. He
has particular responsibility for finance, operations, compliance and
risk management. He oversaw the transfer of three VCTs from Close
Brothers to Octopus in August 2008 and is responsible for analysing
acquisition opportunities. He sits on the investment committees of a
number of funds managed by Octopus and is also a director of five
other VCTs managed by Octopus. Chris has a first class MA in
Pharmacology from the University of Cambridge and is a Chartered
Financial Analyst.
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