Dorchester Announces Board and Management Appointments

21 May 2008

Dorchester Pacific today announced the appointment of Mr John Gosney as an independent director and also advised that Paul Byrnes has taken up the role of Executive Director. 

On the appointment of Mr Gosney, Dorchester Pacific's Chairman, Mr Barry Graham said:

"John Gosney is an astute company director and business consultant with extensive management experience and a background in finance and investment with Goldman Sachs and J P Morgan. He has consulted to a number of both private and public companies and has equity interests in various private sector companies. John has a B.Com and M.B.A from the University of Otago.

"John's experience in strategic business planning and financial analysis will be of particular value to Dorchester and we look forward to welcoming him to the Dorchester board".

On the appointment of Mr Byrnes as Executive Director, Mr Graham said:

"While the services of departing Chief Executive Andrew Walker will still be available to Dorchester, the appointment of Mr Byrnes will provide additional leadership for the very capable management team.

"Paul is a chartered accountant with extensive management experience, having been managing director of previously listed Holeproof Industries for nine years, and he has a solid and in-depth understanding of Dorchester and its operations".

Mr Byrnes has been a director of Dorchester since 2004 and has built up a holding of approximately 500,000 shares in the company over recent months. Mr Byrnes is currently chairman of Top Energy Limited and a director of listed Hellaby Holdings.