Director Declaration

27 June 2012

Update on Director Information

Pursuant to AIM Rule 17, Charlemagne Capital Limited announces an update to a directorship held by Ian Bruce Lang, a non-executive director of the company.

Ian Lang was, until his resignation on 8 May 2012, a non-executive director of a private management consulting company, SI Associates Limited. The deferral of a number of anticipated projects with long standing clients meant that the business ceased to be viable, in the absence of any commitment to their commencement. After taking professional advice, the directors resolved that the company had to cease to trade and they lodged a petition for its liquidation. A liquidator was appointed on 29 May 2012.

The only creditor of substance was the company's bank, whose loan was secured in part by personal guarantees from the executive directors.

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