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Renaissance Pre-IPO Fund - Change of Directors; Change of Auditor
Hamilton, Bermuda, April 2, 2009 - In an announcement made to the Bermuda Stock Exchange (BSX) The Directors of Renaissance Pre-IPO Fund (the "Company") (Ticker: PREIPO1 KY) wish to advise that that as of 19 March 2009 Andrei Movchan has been removed as a director of the Company in accordance with the Articles of Association of the Company, and replaced by Rod Barker. A short biography of Rod Barker is set out below:
Rod Barker is Co-CEO of RIM and CEO of RIM International. He joined RIM UK LTD in 2008, and is based in London. Rod joined RIM from RAB Capital plc where he was Director of Business Development and Distribution and a member of the Executive Board. He joined RAB Capital in 2005.
Prior to joining RAB Capital, Mr Barker was a Managing Director of Credit Suisse First Boston and Head of International Prime Services, based in London. Before joining CSFB in 2002, Mr Barker was a Managing Director of Morgan Stanley which he joined in 1987. His responsibilities included Head of International Prime Brokerage, Capital Introduction and Head of Institutional Equity Sales for non-European equity products.
Before joining Morgan Stanley, he spent two years on First Chicago's "First Scholar" Programme and graduated from Durham University in 1985 with a BA Hons Economics Degree.
The Directors of the Company also wish to advise that on 19 March 2009 the Directors terminated the appointment of KPMG as auditors of the Company and appointed Ernst and Young as new auditors with effect as of 1 January 2009.
The Directors believe that the appointment of Ernst and Young is in the best interest of the Company, as they have reasonable expectations that it will result in enhanced quality of services to the Company as well as a reduction in audit fees.
Media Release
For further information on the Company please contact:
James Bannon (james.bannon@us.customhousegroup.com)
Chris Rakers (chris.rakers@us.customhousegroup.com)
Chicago Administrator & Corporate Services, LLC
372 W. Ontario, Suite 1N
Chicago, IL 60610
Tel. 312.280.0330 Fax. 312.280.0333