Masawara appoints Stephen Folland to Board as Non-Executive Director

– JERSEY / ZIMBABWE – The Directors of Masawara Plc are pleased to announce the appointment of Stephen Folland (aged 56) as a non-executive director of the Company with immediate effect.

Stephen is a Fellow of the Institute of Chartered Secretaries and Administrators and an Associate of the Chartered Institute of Bankers. Stephen has extensive experience in corporate administration spanning more than 20 years, particularly in asset and fund management. Stephen started his career in 1989 with Sinclair Henderson Limited (now Capita Sinclair Henderson Limited) overseeing the secretariat and corporate administration portfolio. Between June 1996 and July 2005 he was a divisional director of Aberdeen Asset Management PLC and sat on the boards of several quoted investment companies. Between September 2005 and December 2007 he was a Vice President in Jersey of a Swiss private bank, Lombard Odier Darier Hentsch (Jersey) Limited and continued to serve as a director of various investment companies. Stephen is currently an independent non-executive director on a number of boards of Jersey domiciled companies and is a consultant on corporate administration in Jersey.

Stephen was born in 1957, and currently resides in Jersey. He sits on the boards of a number of well-established asset and fund management firms, including the Lyxor Jersey hedge fund platform, a debt fund advised by Intermediate Capital Group plc, and the Lombard Odier Infrastructure Fund GP Limited.

David Suratgar, Chairman of Masawara, commented; “we are pleased that Stephen has joined our Board. His knowledge of Jersey and experience in corporate administration and fund and asset management will be invaluable to the Board”.

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