| Fri 11 Jan 2008, 14:19 | | AMA - Amalgamated Appliance Holdings - Change To The Board Of Directors |
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AMA
AMA
AMA - Amalgamated Appliance Holdings - Change To The Board Of Directors
Amalgamated Appliance Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1997/004130/06)
Share code: AMA ISIN: ZAE000012647
("Amap")
CHANGE TO THE BOARD OF DIRECTORS
The Board wishes to advise its shareholders, customers and suppliers that, after
almost 47 years in the consumer electronics and appliance industries, Jack Cohen
is to retire at the age of 75 at the end of January 2008.
Jack bought Tedelex in the latter half of 1996 through Malbak`s unbundling
programme and shortly thereafter listed the appliance division as Amalgamated
Appliance Holdings Limited (Amap). Although Amap had a setback during its 2007
financial year as a result of substantial losses in the electronics division, in
the first ten years after its listing, revenue grew from R157 million to R2151
million and operating profit from R7 million to R181 million.
As announced, the Board of Amap has recently been reconstituted with the
appointments of three new independent non-executive directors; Leon Campher,
Rian du Plessis and Steve Muller, a new CEO, Alan Coward and CFO, Byron Nichles.
In addition, Meyer Kahn resigned as a non-executive director at the end of
November 2007.
Jack, who leaves with the group`s best wishes, will be succeeded as non-
executive Chairman by Leon Campher, effective 1 February 2008. The Board thanks
Jack for his valuable contributions and leadership extended not only to the
group but also to the industry at large.
11 January 2008
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 11/01/2008 14:19:32 Produced by the JSE SENS Department.
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