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Obtala Resources chairman Francesco Scolaro steps down

Staff writer |
St Peter Port, Guernsey - Obtala Resources, the African focused agricultural and forestry business, announced that Francesco Scolaro is to step down as chairman to become a non-executive director.

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Mr. Scolaro is an active investor in publicly quoted companies in the resource, leisure and property sectors.

He was Non-Executive Chairman of Regal Petroleum plc from October 2006 to November 2007. Until March 2008 he was a non-executive director of Regal Petroleum plc.

Miles Pelham, a non-executive director is to become Chairman.

Mr. Pelham is Hong Kong based and has worked in finance for the past 18 years, during which time he has held senior investment banking positions at some of the worlds’ largest financial institutions.

His experience ranges from running trading desks to bond and financial instrument management.

Emma Priestley is to retire from the board.

Ms. Priestley specializes in Africa and emerging market sectors, developing and advising companies.

She was an Executive Director of Lonrho, she is on the board of Stratex International and is an adviser with African Resource Capital.

Previously, Ms. Priestley has worked with GVA Grimley and IMC Mackay & Schnellmann, investment bank CSFB, advisers VSA Resources, Ambrian Partners, where she worked as corporate broker and adviser.

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