Directorate Change

RNS Number : 7840S

Kuala Limited

13 July 2015

 



7.00am 13 July 2015
KUALA LIMITED ("Kuala" or the" Company")
APPOINTMENT OF NEW DIRECTOR
Kuala Limited, the AIM-traded, investment company is pleased to announce the appointment of James ("Jim") Mellon as an executive director with immediate effect. Jim Mellon is an entrepreneur with interests in a number of sectors.  After leaving Oxford, where he studied Philosophy, Politics and Economics, he worked in Asia and the United States in two fund management companies, GT Management and Thornton Management (Asia) Limited, before founding Regent Pacific Group Limited in 1991, subsequently quoted on the Hong Kong Stock Exchange.   He was also a co-founder of UraMin Inc. and Red Dragon Resources, both mining groups.  Jim spends most of his time developing start-up opportunities in undervalued sectors, currently concentrating on life sciences, robotics and fintech. He is also the co-author of four books: "Wake Up!", "The Top 10 Investments for the Next Ten Years", "Cracking the Code" and "Fast Forward". In addition, Jim is Chairman of Plethora Solutions Holdings plc, Manx Financial Group plc and Port Erin BioPharma Investments Limited, and a non-executive director of Charlemagne Capital Limited, Condor Gold plc, and West African Minerals Corporation, all listed on AIM. He is also a director of Portage Biotech Inc. and Miraculins Inc., both quoted in Canada.  Jim lives in the Isle of Man, Brussels and Ibiza and is an honorary fellow of Oriel College, Oxford. Further information is disclosed in Appendix 1 below. For further information please visit www.kualalimited.com or contact:
James Biddle (Nomad) Beaumont Cornish Limited Tel: [phone] Peterhouse Corporate Finance Limited Guy Miller/ Lucy Williams Tel: [phone]	Elysium Fund Management Limited PO Box 650 1st Floor Royal Chambers St Peter Port Guernsey GY1 3JX Tel: [phone] Fax: [phone] e-mail: [e-mail]
Appendix 1: Further information on Jim Mellon The information required to be disclosed in accordance with Schedule Two (g) of the AIM Rules for Companies for Mr. Mellon is set out below. Jim Mellon James Mellon, aged 57, is or has been in the past five years a director of the following companies: Current directorships Past directorships (in the last 5 years)  3Legs Resources plc Biggene Limited Binary (IOM) Limited Binary Holdings Limited Burnbrae Charlottenburg GmbH Burnbrae Commercial GmbH Burnbrae Friedrichstein GmbH Burnbrae Germany East GmbH Burnbrae Germany GmbH Burnbrae Germany North GmbH Burnbrae Germany South GmbH Burnbrae Germany West GmbH Burnbrae Group Limited Burnbrae Kreutzberg GmbH Burnbrae Limited Burnbrae Lutzowstrasse GmbH Burnbrae Mitte GmbH Burnbrae Prinzlauer Berg GmbH Burnbrae Residential GmbH Burnbrae Sachsen GmbH Burnbrae Schonefeld GmbH Burnbrae Spandau GmbH Burnbrae Tempelhof GmbH Burnbrae Tiergarten GmbH Burnbrae Wedding GmbH Burnbrae Wilmersdorf GmbH Charlemagne Capital (IOM) Limited Charlemagne Capital Limited Clean Air Capital Limited Condor Gold plc Discover Investment Company - Discover Asia Discover Investment Company - Discover Europe Extreme Opportunities Limited Ferrum Limited Fixed-Odds Capital (Cook Islands) Ltd Fruitful Publications Limited Global Glory Investment Limited IC Technology (UK) Limited J2 Music Limited Mann Bioinvest (BVI) Limited Mann Bioinvest Limited Manx Financial Group plc Mediq Ventures Limited Microcap Partners Limited Plethora Solutions Holdings plc Podenco Global Limited Port Erin BioPharma Investments Limited Portage Biotech Inc. Regent Corporate Finance Limited Regent Fund Management (Asia) Limited Regent Fund Management Limited Regent Metals Holdings Ltd Regent Pacific Group Limited Rivington Street Holdings plc Shaanxi Red Dragon Resources Ltd Shellbay Investments Limited Sleepwell Hotels (UK) Limited Sleepwell Hotels Limited Speymill Deutsch Immobilien plc Speymill Group plc (renamed Speymill plc) West African Minerals Corporation Asian Opportunity Fund 1998- Series 1 Burnbrae Development GmbH Brazilian Gold Corporation CCEC Limited Cytox Limited Genseq Limited Miraculins Inc Polo Resources Limited Speymill Property Managers Limited Summit Therapeutics plc Venturex Resources Further disclosures Jim Mellon is the beneficial owner of Galloway Limited ("Galloway"). Galloway, following the announcement of 3 June 2015, has an interest of 4,551,229 ordinary shares representing 14.66% of the Company's issued share capital and also provides investment advice to Kuala under an "arms-length" contract. The Company has been informed by Mr. Mellon that there is an arrest warrant in his name which was originally issued by the South Korean prosecutor's office on 19 December 2000 and subsequently reissued on 14 January 2004.  The warrant was due to remain valid and effective until 12 March 2010.  The arrest warrant pertains to Mr. Mellon's alleged involvement in a conspiracy to manipulate the share price of Regent Securities Co., Ltd.  Mr. Mellon has informed the Company that he denies these allegations which are without substance. On 29 January 2014 Rivington Street Holdings plc, a company of which Jim Mellon is a director, entered into a voluntary liquidation.  The creditors are owed approximately £4 million, of which Mr. Mellon and his interests are owed £3.8 million.   On 3 January 2008, Bigsave Holdings plc, a company of which Jim Mellon was a director, entered into a voluntary liquidation.  There were no unsatisfied creditors. On 9 December 2005 Undervalued Assets Fund - Series One, a company of which Jim Mellon was a director, entered into a voluntary liquidation.  There were no unsatisfied creditors. On 8 April 2003, Regent Pacific Fund, a company of which Jim Mellon was a dirwector, entered into a voluntary liquidation.  There were no unsatisfied creditors. On 10 June 2002, UBQT Media plc, a company of which Jim Mellon was a director, entered into a voluntary liquidation.  There were no unsatisfied creditors. Asian Opportunity Fund 1998 - Series I commenced voluntary liquidation on 5 February 2008 pursuant to its Articles and Association.  Jim Mellon was a director within the 12 month period preceding such date.  There were no unsatisfied creditors. Jim Mellon was also previously a director of Regent Global Fund and Undervalued Assets Greater China Fund Series III, both of which went into voluntary liquidation.  These two funds were liquidated with the consent of shareholders as the directors recommended that due to a decline in the size of the funds, they were uneconomic.  There were no unsatisfied creditors. Mr. Mellon has confirmed that in relation to his appointment there is no further information which is required to be disclosed under paragraph (g) of Schedule Two to the AIM Rules.

 

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