CMO - CHROMETCO LIMITED - Changes to the Board of Directors

CHROMETCO LIMITED 

(Incorporated in the Republic of South Africa) 

(Registration number: 2002/026265/06) 

Share code: CMO 

ISIN Code: ZAE000070249 

("Chrometco" or "the Company") 

 

CHANGES TO THE BOARD OF DIRECTORS

 

In fulfilling the requirements of the terms of the Transaction between Grand Slam Enterprise (Proprietary) Limited (“GSE”) and Chrometco Limited entered into on 24 August 2016, the non-executive directors of Chrometco agreed to remain in their respective positions to see through the successful completion of transaction and until such time as suitable directors had been identified by GSE to take over the respective positions on the board. These new appointments were recommended by the nominations committee and approved by the board by way of a unanimous vote.

 

RESIGNATIONS FROM THE BOARD 

In compliance with paragraph 3.59(b) of the Listings Requirements of the JSE Limited, shareholders of the Company are hereby advised of the following changes to the board of directors with immediate effect.

 

Mr JG Scott, Mr IWS Collair, Mr R Rossiter and Mr E Bramley have resigned as directors to the Company and all subsidiaries with immediate effect. 

The board would like to thank all these directors for their contribution to the board.

 

APPOINTMENTS TO THE BOARD 

Mr Bhekokuhle Sibiya has been appointed as an independent non-executive director, chairman of the board and a member of the Audit committee and Social and Ethics Committee. Mr Sibiya obtained his MBA from Western Michigan University. He has served on numerous boards of both listed and unlisted companies. Mr Sibiya was also CEO of the Chamber of Mines. 

 

Ms Nokuthula Thomas has been appointed as independent non-executive director, chairman of the Social and Ethics Committee and a member of the Audit committee. She has almost 20 years working experience in public and media relations, government and investor relations and corporate communications across diverse industries, listed and non-listed companies as well as the education sector. She studied towards BA in Communications from UNISA. Has a post graduate certificate in Executive Leadership Programme. 

 

Mr Louis Jordaan CA(SA) has been appointed as an independent non-executive director, chairman of the Audit Committee and a member of the Social and Ethics Committee. Mr Jordaan has more than twenty years’ experience of the highest international standards in multiple industries and varied organisational sizes, with a focus on the financial services industry and emerging markets. 

 

Mr Marcel Naude CA(SA) has been appointed as an executive director. Mr Naude has worked at KPMG since 2011, within industries ranging from mining (gold and platinum), oil and gas and manufacturing. Over this period Mr Naude obtained significant experience in JSE Listing Requirements, Companies Act, Financial Reporting and internal controls.

 

11 August 2017