Last checked at 13 Aug 2010 08:52
Watermark Global Plc("Watermark" or "the Company")
Directorate Change
13th August, 2010
The Directors of Watermark advise that Mr Dirk Kotze, Chief Financial Officer of Watermark Global plc and Western Utilities Corporation (Pty) Ltd (a wholly owned subsidiary of Watermark), has announced his intention to resign from both positions in order to pursue other business opportunities. Mr Kotze has agreed to remain with the Company until the end of August. The board wishes to thank Mr Kotze for his important contribution to the development of the Company and the Water Reclamation Project over the past two and half years and wishes him well in his future endeavours.
In accordance with the Company's cash preservation position, a successor for Mr Kotze will not be sought until such time as there is clarity from the South African Government towards the Company's Water Reclamation Project and appropriate decisions regarding the project can be implemented. In the interim, the financial management role will be performed by the Company's qualified accountant in South Africa and Mr. Kotze will continue to make available his services to the Company on a consulting basis where required, reducing costs for Watermark
For further information please contact:
Jaco Schoeman, Chief Executive Officer Tel: + 44(0) 20 7233 1462jschoeman@watermarkglobalplc.com
Investor RelationsCharles Zorab Tel: + 44(0) 20 7233 1462czorab@watermarkglobalplc.com
Nominated Adviser: Cenkos SecuritiesIan Soanes/Elizabeth Bowman Tel: +44(0)20 7397 8900
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