CMM Commoditrade

    RNS Number : 5987C
  Commoditrade Inc.
  03 September 2008
   

    3 September 2008
    Commoditrade Inc.
    ("Commoditrade" or "the Company")
    Board Changes
    Commoditrade Inc. (AIM: CMM), the commodities investment company, is pleased to announce that David Phipps has been appointed Chief
Executive of the Company with immediate effect.
    David Jason Phipps, 44, joined Commoditrade in May 2008, advising the Board on strategy and the development of the business.  David has
a very successful track record in building and running trading and broking operations in a number of segments in the commodities sector
including base metals, energy, natural gas and power, emissions, soft commodities, agricultural and freight.  He was latterly Co-Global Head
of Commodities at UBS AG and prior to that was head of commodities at ABN AMRO Futures having joined from Merrill Lynch in 1996.

    Graham Butt has stepped down as Chief Executive and becomes Non-Executive Deputy Chairman. The Board would like to thank him for his
contribution to the development of the Company since stepping into the role of Chief Executive two years ago. In addition, Graham Porter,
currently Non-Executive Director, becomes Non-Executive Chairman and Adrian Collins moves from Chairman to Non-Executive Director and
Chairman of the Audit Committee.
    David Phipps, new Chief Executive, said:
    "The first half of the year has been a period of consolidation and reorganisation as we have restructured the operational base of the
Company to support a clearly defined strategy for growth. This will not only compliment and enhance the existing base metals brokerage and
trading operations but enable us to look at developing capabilities in other commodity asset classes. As part of this restructuring we are
now clearly delineated into brokerage and strategic trading which we will look to replicate as we broaden our commodity portfolio to build a
more diversified platform of revenue streams."
    There are no further details required to be disclosed pursuant to Schedule Two, paragraph (g) (i) to (viii) of the AIM Rules.

    Enquiries:

    David Phipps, Chief Executive
    Commoditrade Inc                           tel: +44(0)20 7245 1100

    Simon Raggett, Strand Partners     tel: +44(0)20 7409 3494

    John Bick, Hansard Group               tel: +44(0)20 7245 1100
    www.commoditrade.net


This information is provided by RNS
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