Chemical Specialitie : Changes to the board and new appointments

CSP - Chemspec - Changes to the board and new appointments   Chemical Specialities Limited Incorporated in the Republic of South Africa) Registration number (2005/039947/06) Share code: CSP ISIN: ZAE000109427 ("Chemspec" or "the Company")   CHANGES TO THE BOARD AND NEW APPOINTMENTS   1.      In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised of the following changes to the Chemspec Board of Directors ("the Board") with effect from 9 January 2012:   1.1. RESIGNATION OF EXECUTIVE DIRECTOR Mr. Robert Donald Simpson has resigned as executive director of Chemspec. He is now based full time in the USA and this change allows him to focus on the growth of ChemSpec's USA business.   The Board thanks him for his contribution during his tenure.   1.2. APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND ALTERNATE NON-EXECUTIVE DIRECTOR The Board is pleased to announce the appointment of Mr. Iain Buchan as non-executive director and a member of the Remuneration and Nominations Committee.   He is presently chief executive officer of The Unlimited (a successful business in the financial services sector) which he founded in 1994. His earlier work experience consists of brand and marketing management at large multinational corporates before he started his own businesses.   The board is confident that his expertise will bring additional strategic input to the business.   Zach Buchan will assume the role of alternate non-executive director to Mr Buchan on the Board.   1.3. APPOINTMENT OF LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR Mr. John Gifford Jones, currently an independent non-executive director, has been appointed as the lead independent non-executive director to the Board.   1.4. CHANGE FROM NON-EXECUTIVE TO EXECUTIVE DIRECTOR The Board is pleased to announce that Mr Tim Dykins has accepted a full time appointment as an executive director with effect from 1 February 2012. He will focus his attention on product development and technical sales and brings with him a wealth of knowledge to the executive team.   2.      APPOINTMENT OF HEAD OF AUTOMOTIVE REFINISH DIVISION The Board is pleased to announce the appointment of Hannes Kloppers, previously the national sales executive for Freeworld Automotive Coatings, to head up ChemSpec's South African automotive refinish division.   Both the appointment of Messrs. Dykins and Kloppers further strengthens ChemSpec's industry position and its ability to penetrate the coatings market as part of its continued drive to become South Africa's leading paint company.     Durban 11 January 2012 Designated advisor Grindrod Bank Limited #110732