Gideon Nieuwoudt appointed as an independent non-executive director of the Board of Remgro
CHANGES TO THE BOARD OF DIRECTORS OF REMGRO (the "Board")
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the following information is disclosed:
Retirement of a non-executive director and the lead independent non-executive director
The Board hereby announces the retirement of Dr Edwin de la Harpe Hertzog as co deputy Chairman and non-executive director of the Board and Mr Gerrit Thomas Ferreira as the lead independent non- executive director of the Board with effect from the close of Remgro's next Annual General Meeting on 28 November 2019.
Dr Hertzog currently acts as co deputy Chairman with Mr Josua Malherbe. The Remgro Board Charter will be amended to indicate that there will only be one deputy Chairman.
The Board wishes to thank Dr Hertzog and Mr Ferreira for their valuable contributions over many years.
Change in function of a director
Ms Sonja Emilia Ncumisa de Bruyn who has served as an independent non-executive director on the Board since 2015, will succeed Mr Ferreira as the lead independent non-executive director of the Board when Mr Ferreira retires.
Appointment of a non-executive director, an independent non- executive director and an alternate independent non-executive director
The Board has approved the appointments of Mr Paul Johannes Neethling as a non-executive director and Mr Gideon Gabriel Nieuwoudt as an independent non-executive director of the Board with effect from the close of Remgro's next Annual General Meeting on 28 November 2019.
Mr Neethling was an Investment Executive in the corporate finance division of Remgro Management Services Ltd, a wholly-owned subsidiary of Remgro and serves as an alternate director to Mr Jan Jonathan Durand on the Board of RCL Foods Limited. He holds a BCom (Hons) degree in Financial and Investment Management from the University of Stellenbosch, and has acquired extensive business experience through a number of other directorships.
Mr Nieuwoudt is the founder and managing partner of Southern Right Capital UK Limited. He serves as an independent advisor on Stanlib Multi-Manager's Alternative Assets Investment Committee, is a non- executive director of Empiric Managed Capital Advisors and Accumulus Emerging Managers Fund and Accumulus Fund. Previously, he served as director of Alternative Investment Solutions at Edmont de Rothschild Capital Holdings, London and managing partner and portfolio manager at Silver Creek Capital UK LLP. He is a CFA Charter holder and holds a BCom degree in Mathematics from the University of Stellenbosch.
Furthermore, Mr Paul Kenneth Harris has indicated his intention to retire as an independent non-executive director from the Board in 2020. By way of succession, the Board has approved the appointment of Mr Lelo Rantloane as an alternate independent non-executive director to Mr Harris with effect from the close of Remgro's next Annual General Meeting on 28 November 2019.
Mr Rantloane holds a BSc (Hons) degree from the University of Cape Town and is the founding CEO of Ata Capital. He is currently a director of Rain Group Holdings Proprietary Limited, Southern African Venture Capital and Private Equity Association, SLG Proprietary Limited, Masana Petroleum Solutions Proprietary Limited, Imbewu Capital Partners Proprietary Limited and a trustee of the Click Foundation. Prior to this he was Head of Debt Capital Markets at Deutsche Bank AG, Johannesburg. He began his career with Rand Merchant Bank Limited and was appointed Executive Assistant to the CEOs of FirstRand Limited and FirstRand Bank Limited.