| Wed 3 Sep 2008, 8:10 | | IFC - IFCA Tech - Board restructure withdrawal of |
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IFC
IFC
IFC - IFCA Tech - Board restructure, withdrawal of cautionary announcement and
reminder of BEE cautionary announcement
IFCA TECHNOLOGIES LIMITED
Incorporated in the Republic of South Africa)
(Registration number 2006/030759/06)
Share code: IFC ISIN: ZAE000088555
("IFCA Tech" or "the company")
BOARD RESTRUCTURE, WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND REMINDER OF BEE
CAUTIONARY ANNOUNCEMENT
RESTRUCTURE OF THE BOARD AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement dated 30 June 2008
are advised that IFCA has restructured the board of directors.
In compliance with paragraph 3.59 of the Listings Requirements of the JSE
Limited, the board of directors of IFCA are pleased to announce the following
restructure.
Mr Kian Keong Yong, one of the founders of IFCA Malaysia, has been appointed
as the acting CEO with immediate effect pursuant to the resignation of Mr
Craig Christensen.
After the above changes, the board will comprise of the following:
Mrs Thandi Ndlovu - non-executive chairman
Mr Kian Keong Yong - acting CEO
Mr Mark Shaw - Financial director
Mr Kean Chuen Yong - non-executive director
Mr Michael Roderick Gahagan - non-executive
Mr Kian Keong Yong
Appointed to the board of IFCA Tech`s parent company, IFCA MSC Berhad on the
20 November 1997, Mr KK Yong is the group managing director of the IFCA Group
in Malaysia. He is responsible for the overall day-to-day management of the
Malaysian group`s business operations, particularly in the sales and marketing
areas.
Mr KK Yong joined IFCA Software in 1990 and was involved in its business
operations. In 1997, he assumed his current position following an internal
restructuring exercise, which resulted in the transfer of IFCA Software`s
business operations to IFCA MSC Berhad. He was instrumental in assisting IFCA
MSC Berhad in achieving its current customer base and market share and also
played a major role in developing IFCA MSC Berhad`s expansion in the overseas
markets and its international business partnership programme. Mr KK Yong
previously held a non-executive position as director and will act as Chief
Executive Officer during the process of rebuilding the company.
Following the above announcement, caution is no longer required to be
exercised by shareholders when dealing in their securities.
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement dated 15 August 2008
pertaining to the negotiations with the black empowerment partner and
accordingly, shareholders are advised to continue to exercise caution when
dealing in the company securities until full announcement is made.
Johannesburg
03 September 2008
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
(Registration number 2006/033725/07)
Date: 03/09/2008 08:10:01 Produced by the JSE SENS Department.
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