FFWD.L Regulatory News (FFWD)

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 LimitedTel: +44 207 628 3396

Peterhouse Corporate Finance Limited

Guy Miller/ Lucy Williams

Tel: +44 (0) 207 469 0930

Elysium Fund Management Limited

PO Box 650

1st Floor

Royal Chambers

St Peter Port

Guernsey

GY1 3JX

Tel: +44 1481 810 100

Fax: +44 1481 810 120

e-mail: elysium@elysiumfundman.com

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:

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.