CLS Holdings plc - Change of Directors

At a meeting of the Directors following CLS’s Annual General Meeting held on 11 May 2010, the following changes were made to the Board of the Company:

1. Further to the announcement made on 11 March 2010, Richard Tice, Deputy Chief Executive Officer, was appointed to the Board of the Company with immediate effect;

2. Bengt Mortstedt resigned as Non-Executive Director of the Company with immediate effect. Having helped to establish CLS, Mr Mortstedt joined the Board as an Executive Director in 1987 and became a Non-Executive Director in 1998; and

3. Jennica Mortstedt was appointed as a Non-Executive Director of the Company with immediate effect. Ms Mortstedt, 26, is the daughter of Bengt Mortstedt and has eight years' experience in the hotel industry. She has a degree in International Business and Hospitality from Ecole Hotèliere de Lausanne, Switzerland.

Sten Mortstedt, Executive Chairman of CLS, commented:

"I am delighted that Richard has joined the Board. His experience is already proving to be of great benefit to us as we continue to develop our business in the current challenging economic environment. The Board also wishes to thank Bengt for his contribution to the success of CLS over the last 23 years and wish him well for the future. We are delighted that Jennica has agreed to join CLS and look forward to working with her."

CLS Holdings plc is delighted to announce that it has acquired 100 Vauxhall Walk for £1.6 million. This completes the site assembly proposed for a major redevelopment of over 28,000 sq m (300,000 sq ft) adjacent to CLS’ 19,387 sq m (208,679 sq ft) Spring Gardens scheme.

Sten Mortstedt, Executive Chairman of CLS, commented:

"This is a significant step forward both for CLS and for the Vauxhall Garden Community Centre which occupies the building, and for whom we will provide new space as part of the redevelopment. We are also grateful to Lambeth Council for its assistance in progressing this transaction to assist with further regeneration in Vauxhall."

source : CLS Holdings plc