The Board of Eildon Capital Limited advised the resignation of Ms. Michelle Phillips as a Non-Executive Director of the Company and its controlled entities (Group) with effect from 27 November 2023. The Board would like to thank Ms. Phillips for her outstanding contribution as an Independent Director over the past 7 years since prior to the listing of the Company in 2017 and for her role on several pivotal transactions, including the internalisation of Eildon Funds Management Limited and the restructure of the Group to a stapled entity. Most recently, Ms. Phillips served as a member of the Independent Board Committee in relation to the off-market takeover bid for the Group by Samuel Terry Asset Management Pty Ltd. as trustee for Samuel Terry Absolute Return Active Fund.

In light of Ms. Phillip's resignation, the Board now comprises an Independent Chairman, one Independent Director and two Non-Independent Directors (as `independent' is defined in the ASX Corporate Governance Principles).