Investment Team

Charles Jillings

Charles Jillings is the executive Director of the Company. He is responsible for the day to day running of the company and the investment portfolio in conjunction with the Investment Manager. Mr Jillings is a chartered accountant and previously worked in corporate finance at Hill Samuel for 10 years. He set up The Analysis & Research Company Limited in 1995 and has been a director of a number of listed companies. He was a director of Utilico Investment Trust plc until 19 June 2007. He is chairman of Equest Balkan Properties plc and a director of Global Equity Risk Protection Limited and Newtel Limited.

James Smith

James Smith has been involved in the running of Utilico Emerging Markets Limited and Utilico Limited since their inception and before that with Utilico Investment Trust plc and The Special Utilities Investment Trust PLC since 1999. Mr Smith is a barrister and a member of the Institute of Chartered Accountants in England and Wales.

Mark Lebbell

Mark Lebbell has been involved in the running of Utilico Emerging Markets Limited and Utilico Limited since their inception and before that with Utilico Investment Trust plc and The Special Utilities Investment Trust PLC since 2000. Mr Lebbell is an associate member of the Institute of Electrical Engineers.

Investment Manager

The Directors are responsible for the determination of the Company’s investment policy and have overall responsibility for the Company’s day to day activities. The Company has, however, entered into an Investment Management Agreement with Ingot Capital Management Pty Limited ("ICM") under which ICM provides investment management services including portfolio monitoring and research to the Company. ICM holds an Australian Financial Service License.

ICM represented by Duncan Saville

Mr Saville is a director of Utilico Emerging Markets Limited and Utilico Limited's investment manager, ICM. He is a non-executive director of Infratil Limited and Vix-ERG Limited and was formerly a non-executive director of Utilico Investment Trust plc, The Special Utilities Investment Trust PLC, East Surrey Holdings plc, Dee Valley Group plc, Glasgow Prestwick International Airport Limited abd Wellington International Airport Limited.