RANGER Direct Lending (RDL) chairman Christopher Waldron and two board members have said they will resign, amid plans to close the beleaguered investment trust.
A stock market update from RDL said Waldron, along with fellow board members Matthew Mulfrod and Scott Canon, have all said they will resign prior to the annual shareholder meeting that takes place on 19 June.
Another director, Jonathan Schneider, has said he intends to continue and his position will be voted on at the meeting.
Rebel shareholders Oaktree Capital Management and LIM Advisers have both put forward their own candidates to be voted onto the board and help manage the wind up of the fund.
Oaktree, which had previously called for the closure of the fund, has nominated Dominik Dolenec and Greg Share to be voted onto the board.
LIM Advisors has called for the appointment of Brendan Hawthorne and Eric Long.
RDL announced last week that the alternative finance-focused investment trust would be wound up after a shareholder backlash over its performance and opposition to the appointment of new investment manager Ares Capital Management, which has since announced it will not take over the fund.