City Merchants High Yield Trust Limited announced that further to the announcement made on 1 October 2020 regarding the appointment, (subject to necessary regulatory clearances) of new non-executive directors, Tom Quigley and Caroline Dutot, the company announced that Philip Austin and John Boothman will retire on 31 January 2021. Both have been directors of the company since incorporation and their retirement is consistent with industry best practice in respect of board tenure.