GlobalCapital p.l.c. announced that at its board meeting of October 4,2012: Mr. Nicholas Ashford Hodges has tendered his resignation from the post of chairman of the board of directors of the company. The board of directors has accepted his resignation and appointed Mr. Ashford Hodges, who continues to serve as a non-executive director of the company, as deputy chairman. Mr. Hodges also continues to serve as chairman and director of the board of directors of the company's operating subsidiaries.

The board of directors has appointed Mr. Dawood Rawat, who is a non-executive director of the company, as chairman. Mr. Rawat has been a director of the company since March 12, 2003. As nonexecutive chairman Mr. Rawat will be heading the board of directors and overseeing strategic issues for the company.