| Tue 4 Nov 2008, 7:05 | | POY - Poynting - Changes To The Board Of Directors |
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POY
POY
POY - Poynting - Changes To The Board Of Directors
POYNTING HOLDINGS LIMITED
(Formerly Poynting Innovations (Proprietary) Limited)
Incorporated in the Republic of South Africa
(Registration number 1997/011142/06)
Share code: POY ISIN: ZAE000121299
("Poynting" or "the company")
CHANGES TO THE BOARD OF DIRECTORS
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited,
notification is hereby given of the following changes to the Poynting board of
directors which will be effective from 3 November 2008:
Messrs Derek Nitch, Thomas Abbott, Anthony Selikow, Mark Haarhoff and Ms Claire
Nitch have resigned as executive directors. These resignations form part of a
restructuring of the board aimed at giving non-executive directors greater
representation to allow for improved corporate governance. The board thanks them
for their invaluable contribution and their assistance during the listing
process;
Mr Michael Hill, who had temporarily assumed the role of acting Financial
Director following the resignation of Mr Sayed Mullah, will resume the role of
Non-executive Director. The board thanks Mike for having assumed the interim
role;
Mr Johan Ebersohn has been appointed as Financial Director. Johan graduated from
RAU with a B.Com in 1985. In 1988 he completed his B.Compt (Hons) degree at
UNISA and he completed his articles in 1991 with PricewaterhouseCoopers. He has
extensive experience and skills in the financial operations of companies. Johan
joins Poynting from Central Panasonic (Proprietary) Limited where he gained 16
years` experience as the Financial/Operational Director;
Mr Clive Douglas has been appointed as a Non-executive Director. Clive completed
his B.Com (Finance and Accountancy) at the University of Witwatersrand in 1986.
In 1987, he joined Melville Douglas Investment Management (Proprietary) Limited
as a portfolio manager, where he became Managing Director in 1995. In 2001,
Melville Douglas was sold to Standard Bank and Clive was appointed Managing
Director of Standard Private Bank. In 2006, Clive established Clive Douglas
Investments (Proprietary) Limited; and
Mr Richard Willis has been appointed as an Alternate Director to Mr Clive
Douglas. Richard qualified as a Chartered Accountant in 1994 after having
completed his articles at Deloitte. Since then Richard has occupied various
positions, both locally and internationally, including Head of the Melville
Douglas Group; Chief Operating Officer of Standard Private Bank and Financial
Director of Virgin Money South Africa. Currently, Richard is Chief Operating
Officer at Clive Douglas Investments (Proprietary) Limited.
The board is looking forward to working with Johan, Clive and Richard and
believes that they will add value to Poynting.
Subsequent to these changes, the board of directors will comprise: Coen Bester
(Non-executive Chairman), Andre Fourie (Chief Executive Officer), Johan Ebersohn
(Financial Director), Juergen Dresel, Michael Hill (Non-executive), Zuko
Kubukeli (Independent Non-executive) Clive Douglas (Non-executive) and Richard
Willis (Alternate).
Wynburg
4 November 2008
Designated Adviser
Merchantec (Proprietary) Limited
Date: 04/11/2008 07:05:05 Produced by the JSE SENS Department.
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