Armadale Capital Regulatory News (ACP)

23 Nov 2012 07:00

Watermark Global Plc

("Watermark" or "Company")

DIRECTORATE CHANGE

Watermark announces the resignation of Mr Jaco Schoeman from the Board of the Company with effect from 22 November 2012. Over recent months it has become increasingly clear that the triple roles of Board membership of Watermark, interim CEO of Mine Restoration Investments Ltd. ("MRI") and his full time role as a senior executive officer of DRD Gold are too time consuming and are increasingly likely to create conflicts of interest.

Jaco remains a director of MRI, in which the Company has a significant stake and in that role will continue to implement their business plan as regards coal briquetting and water treatment, thereby ensuring that Watermark's significant investment in MRI is safeguarded.

Peter Marks, Chairman of Watermark, commented " we are extremely grateful to Jaco for his leadership of the Company from 2007 to date. I'm sure shareholders will recognise the enormous amount of work that has been put in both in water treatment and more recently in the coal briquetting and the investment in MRI. We look forward to continuing our relationship with Jaco over the coming months through MRI and will continue to have access to, and communication from, him accordingly. We wish him well in his future endeavours."

Copyright Business Wire 2012