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CHANGES TO DEPA BOARD 31 May 2016; Dubai, UAE: Depa Limited [Nasdaq Dubai: DEPA; ""the Company""/""the Group""], one of the world's leading interior contracting companies, today announced changes to its Board with the appointment of Ibrahim Belselah as a Non-executive Independent Director, and the retirement by rotation of Mohamed Ali Al Fahim as a Board member of the Company. Ibrahim Belselah has over thirty years of experience working in senior leadership positions across public and private organisations. He previously served as the Executive Chairman of the Board of Damas International Limited and provided expert counsel to investment banking firm Rothschild Group and Trafigura Beheer B.V., one of the world's largest commodities trading companies, on their strategy in the Middle East. Among Ibrahim Belselah's career highlights was his service as Lead Counsel to the UAE Government when the World Bank and International Monetary Fund held their 2003 Annual Meetings in Dubai. Additionally, he led on the issuance of the UAE's first Government bond and served as a key team member of the Dubai e-Government Initiative. Mr. Belselah was Chairman of Arabtec Holding P.J.S.C. from 2011 to 2012, and CEO of Abu Dhabi-based Reem Investments between 2005 and 2006. He holds a Masters in Industrial Engineering and MBA from the University of New Haven in the United States. Mohamed Ali Al Fahim retires after serving on Depa's Board for three years, most recently as Chairman. The Depa Board expressed its appreciation to Mr. Al Fahim for his leadership and significant contribution to the business over the past three years. Depa specialises in the turnkey fit-out and furnishing of five star hotels and resorts, high-end retail stores and malls, luxurious offices, large scale infrastructure projects such as airports, villas, palaces, private jets and yachts around the world. - End - For further inquiries, please contact:
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