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CSP
CSP
CSP - Chemspec - Changes to the board and new appointments
Chemical Specialities Limited
Incorporated in the Republic of South Africa)
Registration number (2005/039947/06)
Share code: CSP
ISIN: ZAE000109427
("Chemspec" or "the Company")
CHANGES TO THE BOARD AND NEW APPOINTMENTS
1. In accordance with paragraph 3.59 of the Listings Requirements of the JSE
Limited, shareholders are advised of the following changes to the Chemspec
Board of Directors ("the Board") with effect from 9 January 2012:
1.1. RESIGNATION OF EXECUTIVE DIRECTOR
Mr. Robert Donald Simpson has resigned as executive director of
Chemspec. He is now based full time in the USA and this change allows
him to focus on the growth of ChemSpec`s USA business.
The Board thanks him for his contribution during his tenure.
1.2. APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND ALTERNATE NON-EXECUTIVE
DIRECTOR
The Board is pleased to announce the appointment of Mr. Iain Buchan as
non-executive director and a member of the Remuneration and
Nominations Committee.
He is presently chief executive officer of The Unlimited (a successful
business in the financial services sector) which he founded in 1994.
His earlier work experience consists of brand and marketing management
at large multinational corporates before he started his own
businesses.
The board is confident that his expertise will bring additional
strategic input to the business.
Zach Buchan will assume the role of alternate non-executive director
to Mr Buchan on the Board.
1.3. APPOINTMENT OF LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR
Mr. John Gifford Jones, currently an independent non-executive
director, has been appointed as the lead independent non-executive
director to the Board.
1.4. CHANGE FROM NON-EXECUTIVE TO EXECUTIVE DIRECTOR
The Board is pleased to announce that Mr Tim Dykins has accepted a
full time appointment as an executive director with effect from 1
February 2012. He will focus his attention on product development and
technical sales and brings with him a wealth of knowledge to the
executive team.
2. APPOINTMENT OF HEAD OF AUTOMOTIVE REFINISH DIVISION
The Board is pleased to announce the appointment of Hannes Kloppers,
previously the national sales executive for Freeworld Automotive Coatings,
to head up ChemSpec`s South African automotive refinish division.
Both the appointment of Messrs. Dykins and Kloppers further strengthens
ChemSpec`s industry position and its ability to penetrate the coatings
market as part of its continued drive to become South Africa`s leading
paint company.
Durban
11 January 2012
Designated advisor
Grindrod Bank Limited
Date: 11/01/2012 12:00:02 Produced by the JSE SENS Department.
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