WLL - Wellco Health Limited - Appointment of Non-E
WLL
WLL
WLL - Wellco Health Limited - Appointment of Non-Executive Chairman and update
on International Supply Agreement
Wellco Health Limited
(formerly Nungu Trading 279 (Pty) Ltd)
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
Share code: WLL & ISIN: ZAE000071841
("Wellco" or "the company")
APPOINTMENT OF NON-EXECUTIVE CHAIRMAN AND UPDATE ON INTERNATIONAL SUPPLY
AGREEMENT
In compliance with section 3.59 of the Listings Requirements of JSE Limited, the
board of directors of Wellco is proud to announce that Mr. Bheki Shongwe has
been appointed as Non-Executive Chairman and head of the Audit Committee of the
company with immediate effect. Mr. Shongwe takes over from our previous
Chairman, Mr. Cliff Sossen, who is currently based in Australia and hence has
been limited in affording the board hands-on direction. Mr. Shongwe is based in
South Africa.
Mr. Shongwe has over 20 years of corporate experience in financial services,
aviation, fleet management manufacturing, hospitality, leisure, petroleum, media
and entertainment sectors. He has worked for major companies in various
capacities such as South African Breweries, Sun International, Shell South
Africa, Sanlam and Transnet to name just a few.
A former Executive Director at Primedia Ltd and CEO of the Ster-Kinekor Group,
Mr. Shongwe is the founding Managing Director of Africa Oil (Pty) Ltd, the first
black owned and managed oil company in South Africa and sits on a number of
company boards including Air Traffic and Navigation Services (Pty) Ltd (ATNS),
Sabvest Ltd, Primedia Ltd, Highveld Steel and Vanadium Corporation Ltd and
chairs some of the sub-committees of the boards he sits on.
Mr. Shongwe has a Bachelor of Arts (Econ) from the University of Botswana and
Swaziland; an MBA from the South Australian Institute of Technology and is an
associate member of the Chartered Institute of Secretaries and Administrators
(ACIS) amongst other academic qualifications. He is currently the Managing
Director of Metro Bus (Pty) Ltd, a wholly-owned subsidiary of The City of
Johannesburg.
With reference to the announcement regarding the conclusion of an international
supply agreement published on 01 March 2007, the company would like to bring to
the attention of its shareholders that the European humanitarian and medical
foundation ("the purchaser") has requested and the company has granted a 30 day
extension to fulfill the condition relating to the payment by the purchaser of a
deposit for 50% of the full purchase price.
Pretoria
11 April 2007
Designated Advisor
River Group
Date: 13/04/2007 07:00:01 Produced by the JSE SENS Department.
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