Directorate Change (6148O)

TIDMDBAY

RNS Number : 6148O

Douglasbay Capital PLC

21 September 2011

DOUGLASBAY CAPITAL PLC (the "Company")

Director Change

The Company announces today a change in the composition of the Company's board.

Geoff Bicknell, having served on the board since June 2009 as an executive director, will step down from his position as Chief Financial Officer of the Company and become a Non-executive Director of the Company, with effect from 30 September 2011 following publication of the 2011 interim results. Geoff intends to pursue an opportunity in the United States and the Company would like to thank Geoff for his significant contribution as Chief Financial Officer of the Company. The Company is delighted that Geoff has accepted an invitation to become a Non-executive Director of the Company and looks forward to his continuing contribution as a member of the board.

As of 1 October 2011, Mike Haxby will be appointed as Chief Financial Officer of the Company, combining this with his present role of Chief Risk Officer which he has held since DouglasBay's inception in 2008. Mike will be supported by Stephen Hardie who will take up the role of Deputy Chief Financial Officer with effect at the same date. Stephen joined DouglasBay in 2010 from TDG, where he held a number of senior, divisional finance roles over almost a ten year period. Stephen is a Chartered Management Accountant and has also worked for Cleanaway Ltd, GWS UK Ltd and Halliburton.

For further information please contact:

 
 DouglasBay Capital plc          Peel Hunt LLP (Nominated Adviser 
                                  & Broker) 
 Alex Paiusco, Chief Executive   Guy Wiehahn / Emma Riza 
 Tel: 01624 690900               Tel: 020 7418 8900

This information is provided by RNS

The company news service from the London Stock Exchange

END

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