The Board of Parkmead reports that Mr Brian Wilson and Mr Faysal Hamza are retiring from the Board as Non-Executive Directors with effect from 21 December 2010.

Mr Wilson and Mr Hamza have served Parkmead with distinction, through a period of significant change in the Group, culminating with the successful acquisition and integration of Aupec Limited. They will continue to play a role within the Group in an advisory capacity.

The Board is also pleased to announce the appointment of Mr Philip Dayer and Mr Ian Rawlinson as Non-Executive Directors of the Group with effect from 21 December 2010.

Philip Dayer was a Non-Executive Director of Dana Petroleum plc from 2006 until its recent sale. Mr Dayer has over 20 years of public market and corporate finance experience, gained with a number of prominent city institutions, during which he advised a wide range of public companies including UK and international groups active in the oil and gas sector. After graduating in law from King's College, Mr Dayer qualified as a Chartered Accountant and went on to gain extensive experience as Director or Head of Corporate Finance with Barclays De Zoete, Citigroup Scrimgeour Vickers, ANZ Grindlays and Societe Generale. Latterly, whilst focusing on the energy sector, Mr Dayer was Director of Corporate Finance at Old Mutual Securities and Executive Director at Hoare Govett Limited.

Ian Rawlinson was also until recently a Non-Executive Director of Dana Petroleum plc, serving from 2005 until its sale in 2010. Mr Rawlinson holds over 20 years' experience in the banking and investment industries, gained with Lazard Brothers, Robert Fleming and Fleming Family & Partners. Mr Rawlinson read law at Cambridge and was called to the Bar in 1981. From 1995 to 2000 he was responsible for building and managing Flemings' investment banking presence in Southern Africa. In 2000 he joined Fleming Family & Partners from its establishment, and until 2005 held various senior executive and advisory positions within this group. Since 2005, in addition to his role at Dana Petroleum, he has focused on independent commercial and charitable interests, which concentrate on natural resources, the financial sector, transportation and the environment. He is a director of a number of public and private companies and is Chairman of Tusk Trust, a UK charity focused on conservation, communities and education across Africa.

Philip Dayer holds 600,000 shares in the Company being 0.1% of its issued share capital. Ian Rawlinson has an interest in 5,016,500 shares in the Company which are held by a discretionary family trust of which he is a beneficiary.

Tom Cross, Chairman of Parkmead, commented, 'Brian and Faysal have served Parkmead as directors with great skill, experience and dedication over a number of years, including during the significant process of acquisition and integration of Aupec Limited, which is now completed. I would like to take this opportunity to thank them for their important contributions to the Group. The Board is delighted that Philip and Ian are joining Parkmead and we look forward to working with them in the future development of the Group.'

Tags: Parkmead Group