The Board of Bailiwick Investments Limited, which has interests in many Channel Islands’ businesses, has seen two recent changes.
John Henwood MBE, who became a director when the company launched in 2008, has stepped down to join the board of Channel Islands Media Group Limited, one of Bailiwick’s investee companies, and Kevin Keen has joined the board alongside chairman Sir Geoffrey Rowland and director Susie Farnon.
The changes come as the Net Asset Value for the fund, which offers shareholders the opportunity to invest into Channel Island-based businesses, reached an all-time high of £1.4758 per share at 30 June 2021, a 24% increase since June 2020.
“The fund continues to go from strength to strength, delivering long-term capital growth by investing in highly regarded local businesses. We continue to see demand from investors who want to invest locally and it is fantastic that we have announced a record high value, particularly as we see a change on the board,” said Sir Geoffrey.
“Susie and I have greatly enjoyed working with John over the years and thank him very much for his contribution and for sharing his extensive knowledge of businesses within the Channel Islands. I am also very comfortable in saying that these sentiments will be echoed by former Chairman David Lowe. We all wish John well with his future role at CIMG, which has already acquired The Guernsey Press and agency TPA and will undoubtedly benefit from his media experience and other skills.
“We are confident that Kevin’s knowledge and understanding of local businesses, with a particular focus on Jersey, will make him a significant asset to the company when looking at the current portfolio and any future investment opportunities.”
Bailiwick Investments’ portfolio now includes interests in SandpiperCI, Guernsey Recycling Group, Jacksons, Oatlands Village, CIMG, SigmaRoc and Jersey Electricity.
“It really has been a pleasure to be on the board of Bailiwick Investments Limited, to see the difference its investments have made to some of the Channel Islands’ leading businesses and to watch their growth and success. Bailiwick provides investors with a unique opportunity to be part of local companies that many use regularly,”’ John said.
In anticipation of Mr Henwood’s retirement, Kevin Keen joined the board in April. A chartered certified accountant, he has held a wide range of senior roles in Jersey over a long career including Finance Director of Le Riche Group, Managing Director of Jersey Dairy, Chief Executive of Jersey Post and Chairman of Jersey Water. He is currently chairman of the Association of Jersey Charities and sits on a number of Jersey-based companies.
“The first few months of being on the board have been extremely interesting, particularly as the Channel Islands move out of Covid-19 restrictions and the businesses within the portfolio move forward with their plans for growth. I hope my commercial experience from roles in some of Jersey’s leading companies will benefit the companies within the fund and deliver returns to our investors. In time I would love to see an expanded footprint of investee companies in Jersey and an increase in Jersey shareholders too.”
Jon Ravenscroft, group CEO of Ravenscroft, which acts as investment manager to Bailiwick Investments Limited, welcomed Kevin aboard. “The Board and manager work closely together, and this is vital to the success of the fund. We will be sad to see John leave the board after so many years, but we greatly appreciate his decision to take up a directorship role at CIMG. We look forward to seeing what the future brings for the development of this exciting and new enterprise.”
Main image shows, left to right, Susie Farnon, John Henwood, Kevin Keen and Sir Geoffrey Rowland.
