Chapmore Plc
LSE : CHAP

September 16, 2011 02:00 ET

Statement re appointment of directors

Chapmore Plc
Appointment of Directors

Chapmore Plc (the "Company") announces the appointment of Hakan Tollefsen and Joaquin Hinojosa Porras as of 15 September 2011.

Mr Tollesfsen is a serial entrepreneur with a strong track record of developing sales and marketing channels. He was one of the key individuals who successfully built up Stepstone, the online recruiter in the late 90's. Since then he has successfully helped build businesses both in Scandinavia and across Europe.

Mr Hinojosa Porras started his working career in banking, and ended up in senior management role with Banco de Jerez, in their international department. On the basis of the contact base developed there with property developers and international buyers he set up his own property business in 1987, and since that time he has been involved all aspects
of property development, planning sales and management on numerous projects, most notably as of the key people responsible for delivering the well-known Sierra Nevada ski resort development.

Mr Tollesfen and Mr Hinojosa Porras have held the following directorships during the past five years:

Director                Current directorships:                   Previous directorships:

Hakan Tollefsen         House of Dives (partnership)             Radio Tango AS(Norwegian)
                        Obsido Invest AS (Norwegian)             Freshteck Nordic AS (Norwegian)
                        Obsido Management AS (Norwegian)         Easy Tel Holdings AS(Norwegian)
                        Yaazz AS (Norwegian)                     Cellpoint Connect AB (Swedish)
                        Plan Investor AS (Norwegian)
                        Heko Holding AS (Norwegian)
                        Bella Invest AS (Norwegian)
                        Clearwater Corporation AS (Norwegian)
                        Full Circle Energy Group AS (Norwegian)
                        Expono AS (Norwegian)
                        Obsido Securities Ltd
                        Green Square International Ltd
                        Green Square Concept Group Ltd

Joaquin                 Los Molinos Golf S.A. (Spanish)
Hinojosa Porras         Exclusivas Inmobiliarias Hinogar S.L. (Spanish)
                        Hinoplan Resorts S.L. (Spanish)


Haakan Tollefsen, through a corporate investment vehicle, bought a 20% stake in Radio Tango AS for  approximately  GBP 120,000 and was appointed as a Director in May 2008. He resigned as a Director in November 2010 and on 27 June 2011  the creditors of Radio Tango AS petitioned for the company to be wound up. The winding up process is still ongoing, with an estimated loss to creditors of approximately GBP 170,000.

Haakan Tollefsen was a director of Easytel holdings AS when it entered into bankruptcy proceedings in Jan 2007. The principal creditor was a Norwegian bank called DnB NOR ASA who were owed approximately 5.7m Norwegian Kroner (approximately GBP 650,000) at the time of the bankruptcy. The bank debt was guarantee by Mr Tollefsen and he is in  the process of coming to a settlement with the bank in respect of that guarantee.

There are no other matters which are required to be announced pursuant to Paragraph 18 of Appendix 1 of the PLUS Markets "Rules for Issuers".

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Tom Kristensen
Chapmore plc
Tel:  +44 (0) 7734 266 119 

Nick Michaels
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 (0) 20 7251 3762 

16 September 2011

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