| Fri 27 Jun 2008, 16:14 | | PHM - Phumelela Gaming & Leisure Limited - Change in directorate |
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PHM
PHM
PHM - Phumelela Gaming & Leisure Limited - Change in directorate
Phumelela Gaming & Leisure Limited
( Incorporated in the Republic of South Africa )
( Registration number 1997/016610/06 )
Share code: PHM ISIN: ZAE000039269
Change in directorate
In compliance with the requirements of rule 3.59 of the JSE Listings
requirements:
Phumelela Gaming and Leisure Limited, the JSE-listed horseracing and tote
betting company, is delighted to announce that Willem Adriaan ("Rian") du
Plessis (47) has been appointed Group CEO of Phumelela and CEO of the company`s
international arm, Phumelela Gold Enterprises (PGE), with effect from 1 August
2008.
On the same date David Attenborough (45), currently Phumelela`s Chief Operating
Officer, will become CEO of Phumelela`s South African-based operations.
The two appointments flow from Phumelela and PGE`s incumbent CEO Jim Tennant
stepping down at the end of July. Tennant (60) had intended to retire last
December, but stayed on until a replacement was appointed. He has agreed to
continue in a full-time capacity until at least the end of the year in order to
ensure a seamless transition and to focus on certain key projects.
"I have enjoyed a challenging but stimulating nine years at Phumelela. I would
like to thank my management team for their efforts and believe we can all be
proud of having established a strong foundation that can be built upon into the
future," Tennant said.
Phumelela chairman Peter Malungani said the Phumelela board believed that Du
Plessis and Attenborough would be a winning combination.
"Rian will focus on growing the business internationally beyond what can be
accomplished organically. Phumelela`s stated vision is to become a worldwide
leader in the informed betting market and Rian has a proven track record in
transforming a South African business into an international player. This coupled
with his financial expertise make him an ideal person to drive PGE`s expansion
in the global market.
"David has 18 years experience in betting and gaming, plus a thorough working
knowledge of every aspect of Phumelela`s business. He is thus well equipped to
manage Phumelela`s core business in South Africa," continued Malungani.
"I would like to thank Jim for his services to Phumelela over the last nine
years, first as Financial Director and then as CEO, and for agreeing to stay on
longer than he had planned," Malungani added.
Du Plessis commented: "Phumelela has done exceptionally well to get South
African horseracing onto a sound financial footing and through PGE has created a
strong platform for international growth. It`s exciting to be entrusted to take
it to the next level."
Attenborough said: "The long-term sustainability of South African horseracing is
key to PGE`s international strategy. The new structure will enable me to focus
on maximising revenue locally, while simultaneously ensuring that Phumelela
delivers the highest-quality product possible to both its local and
international customers."
Phumelela operates tote betting in seven of South Africa`s nine provinces and
horseracing in four of them. Established in 1998, Phumelela was listed on the
JSE in 2002 and was ranked fifth in the 2007 Business Times "Top 100 companies
over the last five years".
Gold Circle is the horseracing and tote betting operator in KwaZulu-Natal and
the Western Cape, while PGE is a joint venture between Phumelela and Gold Circle
that manages the two companies` international business dealings. PGE is managed
by Phumelela and owns the domestic and international broadcast and information
rights to South African horseracing. PGE also has the worldwide betting-related
broadcast rights to 30 of the UK`s 59 racecourses (the Racing UK rights).
BACKGROUND
Rian du Plessis B. Acc: Qualified as a Chartered Accountant (South Africa) in
1985 and obtained a Higher Diploma in Tax Law from the University of the
Witwatersrand in 1988.
He spent eight years in investment banking, initially with FirstCorp Merchant
Bank and thereafter with Rand Merchant Bank ("RMB") where he became joint CEO of
RMB`s Corporate Finance Division.
Rian joined the Comparex Group in 1997. In his capacity as Director: Mergers &
Acquisitions and International Finance, he was responsible for all of Comparex`s
acquisitions as well as being Financial Director of the Group`s international
business. He was appointed Chief Executive Officer of Comparex Holdings Limited
in 2000. At the invitation of the board of directors of Comparex Holdings
Limited and with effect from 1 November 2002, Rian led a team of European
managers in a management buy-out of the Group`s European businesses. Initially
as CEO and later as Chairman, he managed the turnaround of Comparex in Europe
within 19 months.
David Attenborough MBA: Prior to joining Phumelela in September 2003, David
managed the licensing and development division of British bookmaking chain
Ladbrokes/Hilton for five years. He was later transferred to Africa, where he
was responsible for the development of casinos and other gaming opportunities
for the group for a further five years. In 2001, he became Vice-President of
Development for African Lakes Corporation, a UK listed company specialising in
IT connectivity and an ISP provider in 20 African countries.
27 June 2008
Sponsor: Investec Bank Limited
Date: 27/06/2008 16:14:01 Produced by the JSE SENS Department.
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