– CAYMAN ISLAND – United Cacao Limited SEZC (AIM: CHOC), the AIM-quoted cacao plantation company based in Peru, is pleased to announce that Mr Graeme Iain Brown has joined as a non-executive director replacing Mr Roberto Tello who is stepping down from the Board with immediate effect.
Mr Brown has extensive experience in the plantation industry having founded and run several large-scale agricultural enterprises.
Dennis Melka, Chairman and Chief Executive Officer, commented: “Mr Brown strengthens the board as a director through his more than 20 years of operational experience and extensive strategic relationships across the plantation sector in Southeast Asia. The cacao market is fundamentally being driven by rising Asian demand and some of the world’s largest agricultural enterprises are based in Southeast Asia. Furthermore, Mr Brown complements the board’s strengths and positions the business well for the future.
“The Board would like to thank Roberto for his significant contribution to United Cacao before and since the company listed on AIM. The Board and Roberto recognise the need for a different skillset, as the company begins to make the transition to a producing cacao business.
“It is our intention to continue to strengthen the Board of Directors over the coming months and we look forward to updating shareholders in due course.”
Graeme Iain Brown commented: “United Cacao has accomplished unprecedented achievements in the cacao sector since its admission to AIM and I am honoured to join this rapidly growing company. Peru offers excellent conditions, in particular freehold land, for plantation companies and a superb growing environment. I expect the general plantation industry, largely based in Southeast Asia, to take increased interest in this region in the years ahead.”
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