GlobalCapital p.l.c. announced that Prof Paolo Catalfamo of Block 11 Fl101 Portomaso Paceville has been appointed as Executive Chairman of the Company with effect from the January 8, 2017. Prof Catalfamo has served as Non-Executive Director and Chairman of the Company since September 2015. In the capacity of Executive Chairman, Prof Catalfamo is assuming the functions and powers of the Chief Executive Officer instead of Mr. Reuben Zammit, who is stepping down as Director and Chief Executive Officer of the Company and of its operating subsidiaries, also as of the Effective Date.

Mr. Zammit remains available to the Company as may be necessary to ensure a smooth transition and a proper handover of functions and responsibilities.