– PERU / CAYMAN ISLANDS – United Cacao Limited SEZC (AIM: CHOC), the AIM-quoted cacao plantation company based in Peru, is pleased to announce that, further to the Company’s announcement of 16 September 2016, Nicolas Van Broekhoven has joined the board as an independent non-executive director.

Nicolas Van Broekhoven is a Managing Director of Value Square Singapore. Value Square is a global asset manager with offices in Belgium and Singapore and assets under management of approximately US$455 million. Nicolas joined the company in 2008. Prior to Value Square, Nicolas worked for Petercam W&P (Belgium) and I-Methods/Foyer Patrimonium (Luxembourg), having been professionally engaged as an analyst and fund manager since 2003. Nicolas has appeared regularly in financial media publications such as De Tijd, De Standaard, The Wall Street Transcript, Edge Singapore and writes a bi-monthly column for the US magazine Better Investing. Nicolas holds a BSc in Finance from Bentley University (Boston, USA).

As the Company has transitioned to revenue producing, the Board and key stake-holders have agreed to enhance the Company’s corporate governance. In line with this development, Dennis Melka will be stepping down from the board of directors of the Company to assume the position of Group Managing Director. Mr. Melka’s day-to-day responsibilities and existing employment contract within the Company will remain unchanged.

In addition, the board is currently finalising the appointment of a further non-executive director for which a further announcement will be made in due course.

Constantine Gonticas, Chairman, commented: “Nicolas further strengthens the board as we transition to a revenue producing estate. His experience in investing in the plantation sector globally will provide the Board with valuable insights and guidance in the coming years.”

Nicolas Van Broekhoven commented: “I am excited to join the United Cacao board. I look forward to working with the other board members to position the Company as a leading specialty food ingredient producer. The Company is well-positioned to benefit from continued structural deficits in cacao production, consumers’ clear preference for chocolate that is made from child labour-free cacao and the premium markets’ shift to fine flavour cacao. “

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