FFWD.L Regulatory News (FFWD)

24 Jul 2007 13:23

London Asia Chinese Private Equity24 July 2007 For immediate release: 24 July 2007 London Asia Chinese Private Equity Fund Limited ("the Fund") Board Changes LACPEF, the China focused investment fund, announces the appointment of RobertSmith Leighton, aged 65, as Non-Executive Chairman, of the Fund. He willreplace, with effect from today, John Manser, current Non-Executive Chairman.Christopher Hill, a non executive director is also stepping down from the Board. Mr Leighton joins LACPEF with over 34 years finance and investment experience Heis the Chairman of Nymex Europe Ltd, the European arm of the commodity futuresexchange. Previously he was UK Chairman for Calyon (formerly Credit Lyonnais)as well as Chairman of their European Advisory Board, where he was responsiblefor high level client relationships and regulatory/public policy affairs.Having been active in the banking and finance sector in China for over 20 years,Mr Leighton has developed significant expertise in oil, gas, metals anddesalination sectors in Asia, as well as the Middle East, Latin America and theformer Soviet Union. An active member of the CFTC's Global Advisory Committee in Washington, MrLeighton also holds a number of non-executive posts, including being SeniorIndependent Director of EDX (European Derivatives Exchange); Chairman ofFinancial Services Practitioner Panel; Past Chairman Futures & OptionsAssociation (FOA). He has also been Chairman of the World Bank's InternationalTask Force for Commodities. Simon Littlewood, Director of the Fund, said: " We are delighted to welcome MrLeighton to our Board. As the Fund moves from a period of investment to one ofrealisation and re-financing, Robert's contacts, experience and knowledge ofChina's industry and financial services sector strengthens our ability tore-finance and exit our deals in both China and Hong Kong." He added: "The Board would like to take this opportunity to express theirthanks to Mr Manser and Mr Hill for their considerable contribution to the Fundsince its launch in March 2006. They have helped guide the Fund through aperiod of rapid investment, in a regulatory and market environment that haschanged considerably since the launch of the Fund. We wish them both all thebest for future." For further information please visit www.londonasiafunds.com or contact: John West/Andrew Dunn Cecilia Wong Hugh FieldTavistock Communications LACPE Fund Collins Stewart Europe LimitedTel: 020 7920 3150 Tel +852 2251 8373 Tel: 020 7523 8350 cecilia.wong@londonasia.com Robert Leighton's current directorships include: Charterhouse CommunicationsPlc; Dubai Mercantile Exchange; EDX Limited; Financial Services Skills Council;FOA Limited; and International Claims Management Limited. The Directorshipsheld in the last five years by Robert Leighton were: Credit Lyonnais ; CreditLyonnais Rouse Ltd; Internet Security Plc; Nymex Europe Limited; and NymexEurope Holdings Limited. As former Non-Executive Chairman of Internet Security Plc, which on 8 May 2001,Robert Leighton was placed into administration on the basis that the company wasor was likely to become unable to pay its debts. Following the implementationof a creditors voluntary arrangement, Internet Security Plc was dissolved on 23December 2003. There are no further disclosures to be made regarding Mr Leighton in accordancewith the AIM Rules. This information is provided by RNS The company news service from the London Stock Exchange