SAN - Sanyati Holdings Limited - Changes to the Sanyati board of directors
SAN
SAN
SAN - Sanyati Holdings Limited - Changes to the Sanyati board of directors
SANYATI HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/002538/06)
JSE Share code: SAN ISIN: ZAE000081055
("Sanyati" or the Company)
CHANGES TO THE SANYATI BOARD OF DIRECTORS
In compliance with section 3.59 of the Listings Requirements of the JSE
Securities Exchange South Africa, notification is hereby given that the
following changes were made to the Sanyati board of directors, effective 1
August 2008:
1. Archie Rutherford appointed as Chief Operations Officer (COO)
Archie joined the board of Sanyati after the successful conclusion of the
acquisition of Ruthcon Civil Contractors (Pty) Ltd on 1 March 2007. Archie led
the Ruthcon team to the achievement of all profit warranties and payout of the
full purchase consideration a year ahead of schedule. Archie was previously the
managing director of Sanyati`s major subsidiary, Sanyati Civil Engineering and
Construction (Pty) Ltd. He will also continue in this capacity to oversee the
group operational activities.
2. Michael Gahagan appointed as an Independent Non Executive Director
Michael has since his qualifying as CA (SA) in 1979 held various executive and
CEO positions on main board listed companies in South Africa. These Groups
include Barlow Rand, HL & H, Imperial and IOTA Financial Services. Mike is
currently the CEO of Arcay Private Financial Services (Pty) Ltd.
The board of Sanyati welcomes the above members to the board and look forward to
a long and mutually beneficial business relationship.
In line with Sanyati`s move to the Main Board on 17 July 2008 it is their stated
intention to divorce the roles of CEO and Chairman currently held by Rick
Jackson in line with King Commission recommendations and sound Corporate
Governance principles. A further announcement in this regard will be made in due
course.
4 August 2008
Johannesburg
Designated Advisor:
Exchange Sponsors (Pty) Ltd
Date: 05/08/2008 13:57:01 Produced by the JSE SENS Department.
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