Corporate Governance and Regulatory News

International Biotechnology Trust plc

International Biotechnology Trust plc

Key Company Facts

LSE: IBT | Benchmark: NASDAQ Biotechnology TR USD

The Company’s investment objective is to achieve long-term capital growth by investing in biotechnology and other life sciences companies.

  • Inception date

    6 May 1994

  • Year end

    31 August

  • AGM

    December

  • Dividend

    4% of NAV p.a. bi-annually

  • Distribution frequency

    Semi-annually (January and August)

Independent Board of Directors

Headshots of Trust Board Members
Kate Cornish-Bowden >

Independent Non-Executive Chair and Chair of the Management Engagement Committee

Headshots of Trust Board Members
Patrick Magee >

Senior Independent Director and Independent Non-Executive Director

Headshots of Trust Board Members
Gillian Elcock >

Independent Non-Executive Director and Chair of the Nomination Committee

Headshots of Trust Board Members
Caroline Gulliver >

Independent Non-Executive Director and Chair of the Audit Committee

Headshots of Trust Board Members
Professor Patrick Maxwell CBE >

Independent Non-Executive Director

Headshots of Trust Board Members
Alexa Henderson >

Independent Non-Executive Director

Slide 1 of 3
Terms of Reference: Management Engagement Committee
Terms of Reference: Nomination Committee
Terms of Reference: Audit Committee

Corporate calendar

Half Year End

28 February

Announcement of Half Year Results

May

Year End

31 August

Announcement of Final Results

November

AGM

December

Regulatory news

Document archive

Annual Reports & Accounts

2023 / 2022 / 2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013

Interim Reports & Accounts

2023 / 2022 / 2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013

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Shareholder Relations and Voting

International Biotechnology Trust plc recognises that maintaining good relationships with and actively engaging with both its institutional and retail investors is vital to its long term prospects. International Biotechnology Trust is committed to forging excellent relationships with current and potential investors.
Dialogue between investors and the Board is encouraged, via the Annual General Meeting or through the broker and/or the Investment Manager. The Annual General Meeting is usually held in December, and the Annual Report is sent to investors at least 20 days beforehand.
Details of proxy votes received in respect of each resolution are made available to shareholders at the meeting and are published on this website following the meeting.

International Biotechnology Trust plc - Key Risk Considerations

  • Capital erosion: Where fees are charged to capital instead of income, or a fixed distribution amount is paid regardless of the Company’s performance, there is the potential that performance or capital value may be eroded.
  • Concentration risk: The Company may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the company, both up or down.

  • Gearing risk​: The Company may borrow money to make further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase by more than the cost of borrowing, or reduce returns if they fail to do so. In falling markets, the whole of the value in such investments could be lost, which would result in losses to the Company.

  • Liquidity Risk: The price of shares in the Company is determined by market supply and demand, and this may be different to the net asset value of the Company. In difficult market conditions, investors may not be able to find a buyer for their shares or may not get back the amount that they originally invested. Certain investments of the Company, in particular the unquoted investments, may be less liquid and more difficult to value. In difficult market conditions, the Company may not be able to sell an investment for full value or at all and this could affect performance of the Company.

  • Market risk: The value of investments can go up and down and an investor may not get back the amount initially invested.

  • Market Risk: The value of investments can go up and down and an investor may not get back the amount initially invested.

  • Operational risk​: Operational processes, including those related to the safekeeping of assets, may fail. This may result in losses to the Company.

  • Performance risk: Investment objectives express an intended result but there is no guarantee that such a result will be achieved. Depending on market conditions and the macro economic environment, investment objectives may become more difficult to achieve.

  • Share price risk: The price of shares in the Company is determined by market supply and demand, and this may be different to the net asset value of the Company. This means the price may be volatile, meaning the price may go up and down to a greater extent in response to changes in demand.

  • Smaller companies risk: Smaller companies generally carry greater liquidity risk than larger companies, meaning they are harder to buy and sell, and they may also fluctuate in value to a greater extent.