United Cacao Limited SEZC (AIM: CHOC), the AIM-quoted cacao plantation company based in Peru, is pleased to announce that Mr. Tim O'Neill has joined as an independent non-executive director.
Mr. O'Neill has extensive experience across the financial services and agricultural industries including roles at SPP Hambro & Company, Prudential Securities Incorporated, and AgriNexus Capital LLC, as well as significant experience in the Peruvian market through his role at Austral Group SAA. His appointment to the Board is effective immediately.
Constantine Gonticas, Chairman, commented:
"This appointment represents the latest step in strengthening United Cacao's board as the Company makes the transition towards revenue generation. Tim's experience in advising agricultural businesses will provide an excellent source of knowledge for the Company and his expertise in the Peruvian market will be incredibly helpful for our next chapter as a commercial producer."
Tim O'Neill commented:
"I am very excited to be joining United Cacao. The Company has a compelling proposition within an industry which looks set for strong growth in the coming years as demand for cacao has steadily risen, while traditional supply centres are in decline. I am also impressed by the company's commitment to support the local community through a variety of initiatives, including most importantly, the creation of significant economic opportunity through Programa Alianza Producción Estratégica Cacao ("PAPEC")."
The following information is disclosed pursuant to schedule 2 (g) of the AIM Rules
Mr Tim O'Neill, aged 49, is or has been a director of the following companies during the previous five years:
Current Directorships Texbel Farms Investments LLC Siguler Guff Small Buyout Opportunities Fund II(T), LP Siguler Guff Small Buyout Opportunities Fund (T), LP Oasis Luxury Rentals Incorporated CSP II Distressed Opportunities Trust |
Previous Directorships Cold Spring Harbour Laboratory Association |
There is no further information to be disclosed pursuant to paragraph 2(g) of Schedule 2 of the AIM Rules.