Re­tired pub­lic ser­vant Jer­ry Hospedales has re­signed as the chair­man of Na­tion­al En­ter­pris­es Ltd, the state's pub­licly list­ed in­vest­ment hold­ing com­pa­ny, and he has been re­placed by In­grid Lash­ley, the man­ag­ing di­rec­tor of T&T Mort­gage Fi­nance (TTMF).

A no­tice from NEL, post­ed on the web­site of the T&T Stock Ex­change, stat­ed: "Ef­fec­tive Jan­u­ary 27, 2017, Jer­ry Hospedales re­signed from the board of Na­tion­al En­ter­pris­es Ltd. On the same day, In­grid Lash­ley was ap­point­ed to the board of di­rec­tors and was elect­ed as chair of the board."

Apart from be­ing the top ex­ec­u­tive at TTMF, Lash­ley serves on the board of CL Fi­nan­cial, Cli­co and An­gos­tu­ra Na­tion­al En­ter­pris­es Lim­it­ed (NEL) is an in­vest­ment hold­ing com­pa­ny in­cor­po­rat­ed on Au­gust 27, 1999 by the Gov­ern­ment.

NEL was formed to con­sol­i­date the Gov­ern­ment's share­hold­ing in se­lect­ed state en­ter­pris­es and fa­cil­i­tate a pub­lic of­fer­ing on the T&T Stock Ex­change.

NEL, which was list­ed on the lo­cal stock ex­change in 2001, made two pub­lic of­fer­ings of shares in Feb­ru­ary 2001 and in Sep­tem­ber 2002.

As the state's in­vest­ment hold­ing com­pa­ny, NEL has 51 per cent share­hold­ings in Na­tion­al Flour Mills, Telecom­mu­ni­ca­tions Ser­vices of T&T and Trin­gen (Trinidad Ni­tro­gen Com­pa­ny) as well as small­er stakes in At­lantic LNG Train I, Phoenix Park Gas Proces­sors and NEL Pow­er Hold­ings, which was a com­pa­ny formed to hold 10 per cent of Pow­er­Gen ac­quired from BP.

In 2014, NEL along with the Unit Trust Cor­po­ra­tion and the Na­tion­al In­sur­ance Board, formed a con­sor­tium to ac­quire a fur­ther 10 per cent stake in Phoenix Park for US$168 mil­lion from Pan West. Each of the three lo­cal in­sti­tu­tion­al in­vestors have a one-third stake in that in­vest­ment.

In the six months end­ing Sep­tem­ber 30 2016, NEL re­port­ed prof­it af­ter tax of $162.7 mil­lion, com­pared with $174.9 mil­lion in the six month pe­ri­od end­ing Sep­tem­ber 30, 2015.