CSP - Chemspec - 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                                                           
Date: 11/01/2012 12:00:02 Supplied by www.sharenet.co.za                     
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