| Fri 29 Aug 2008, 16:30 | | ASO - Austro Group Limited - Changes to the board of directors |
|
ASO
ASO
ASO - Austro Group Limited - Changes to the board of directors
Austro Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
Share code: ASO
ISIN: ZAE000090882
("Austro" or "the Group")
CHANGES TO THE BOARD OF DIRECTORS
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
shareholders are advised of the following changes to the board of directors of
Austro, effective immediately:
Tony Phillips has been appointed as non-executive Chairman on the board of
Austro, bringing many years of experience in the industrial sector to the Group.
Well known and respected for his previous role as CEO at Barlow and Chairman of
PPC, Tony will add enormous value in terms of the Group`s strategy in the
specialized Industrial Supplies sector. He is currently non-executive chairman
of Kwikspace Modular Buildings Limited, Newman Lowther and Associates and a non-
executive director of Eqstra Holdings Limited. David Brouze will pass on the
role of non-executive Chairman of the board to Tony Phillips. This decision has
been made in order to provide opportunity for Tony Phillips to lead the board,
thereby making the most of his valuable knowledge and experience. David will
continue his role of non-executive director.
Neill Davies has been appointed as non-executive director on the board of
Austro, he has had a long career in industry and commerce in both executive and
non-executive positions. Since retiring from the Altron Group, where his final
position was that of Deputy Chairman, he has served on various boards of listed
companies. He was Chairman on Concor Limited, Rand Leases G.M. Limited and
Astrapak Limited. Other non-executive directorships have included Anglo American
Industrial Corporation Limited, the J D Group , Advtech Limited, Brait S.A.
Limited , Bytes Limited and Afgri Limited. He is currently non-executive
Chairman of the ATM Solutions Group and a non-executive director of Savcio
Holdings (Proprietary) Limited. His vast knowledge and experience will be a
great resource to the executive.
Mark Petzer has been appointed as executive director on the board of Austro,
taking on the role as Financial Director of the Group. Mark is qualified as a
Chartered Accountant (CA.SA.) he was previously employed at
PriceWaterhouseCoopers, where he completed his articles before moving to the
transactional services department. He has been the Group`s financial manager for
the last two years, during which time he has gained valuable industry knowledge
as well as a practical understanding of the workings of an expanding and dynamic
listed Group.
Daniel Rothlisberger, the founder and current managing director of Austro has
resigned from the board, he has committed over 28 years of his life to growing
and establishing the company as one of the world`s most successful and well
respected suppliers of Woodworking Machines & Tools. Since selling the majority
share holding in 2004, Daniel has exceeded all expectations of the company and
board and would now like to pursue his personal interests. Although Daniel has
decided to step down as an executive director, he will play the role of an
active mentor and will continue supporting the Group in an advisory capacity,
and will for the foreseeable future continue driving one of the company`s new
projects.
Richard Jonah has also tendered his resignation with immediate effect as he is
to further his studies and as a result will not be able to commit the time
required to serve as a non-executive director.
29 August 2008
Sponsor:
Java Capital (Proprietary) Limited
Date: 29/08/2008 16:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
