| Tue 4 Nov 2008, 14:03 | | ACC - Acc-Ross Holdings Limited - Reconstitution Of The Board Of Directors |
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ACC
ACC
ACC - Acc-Ross Holdings Limited - Reconstitution Of The Board Of Directors
Acc-Ross Holdings Limited
(to be renamed Pinnacle Point Group Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/000059/06)
JSE share code: ACC
ISIN Number: ZAE000077335
("Acc-Ross" or "the Company")
RECONSTITUTION OF THE BOARD OF DIRECTORS
Following the implementation of the acquisition by Acc-Ross of the Pinnacle
Point group of companies, the change in name of the Company to Pinnacle Point
Group Limited and various other related transactions, the board of Acc-Ross is
pleased to announce the following changes to the board of directors:
A Wiese, an executive director, and MJ Krastanov, a non-executive director, will
resign with effect from 31 October 2008.
The following directors have been appointed with effect from 31 October 2008:
- Non-executive Chairman: PL Zim;
- Non-executive Deputy Chairman: I Stratford;
- Executive director: S Kruger; and
- Non-executive directors: B Igbinedion, T Austen-Peters, AV Fasedemi (Alt)
and R Moonsamy.
W Robinson will remain as Chief Executive Officer of the new group and KS
Mthembu and YT Moerane will remain as non-executive directors.
The abridged curriculum vitas of the newly appointed directors are set out
below:
Polelo Lazarus Zim
Lazarus is executive chairman of Afripalm Resources (Proprietary) Limited and a
director of various other entities in the Afripalm group of companies. He is
also Chairman of Kumba Iron Ore Limited, Mvelaphanda Resources Limited and
Northam Platinum Limited and a director of, inter alia, Sanlam Limited and Trans
Hex Group Limited. He was previously an executive director of the MTN Group and
Chief Executive of Anglo American South Africa Limited. He is the immediate past
President of the South African Chamber of Mines, a former director of Anglo Gold
Ashanti Limited, Anglo Platinum Limited, Mondi South Africa Limited and Telkom
SA Limited and sits on a number of Government advisory boards.
Ivor Charles Stratford
Ivor is a qualified Chartered Accountant and ex-partner of Deloitte. For the
past fifteen years he has been involved in property development, mainly in the
tourism industry throughout South Africa.
He was responsible for the design and development of all five casinos in the
Gold Reef Casino Group. In addition, he has developed a number of hotels
including the Blue Lagoon Beach Hotel in East London. He also pioneered time
share selling in South Africa. He has guided the strategy of the Pinnacle Point
Group since its inception.
Steven Kruger
After completing his articles with KPMG and qualifying as a Chartered
Accountant, Steven decided to pursue a career in commerce with Irvin & Johnson
Limited, a company then listed on the JSE and specialising in the Food
Processing and Distribution Industry. He was with the Irvin & Johnson Group for
fourteen years and during his tenure was promoted to the position of Group
Financial Director. He then joined the Pep Limited Group, an Apparel Retailer
and Manufacturing Group as Director of Finance and Information Technology.
Whilst at the Pep Limited Group, Steven also filled the post of Managing
Director of Pep Clothing, one of the largest clothing manufacturers in South
Africa, for a period of one year. As part of Steven`s undergraduate studies he
successfully completed a course in Real Estate Economics and has also completed
a Retail Strategic Planning Course at Babson College in Boston, United States of
America. Steven joined the Pinnacle Point Group effective 1 December 2005 as
Financial Director and was promoted to the position of Chief Operating Officer
in October 2007.
Bright Igbinedion
Bright is the Chairman of Unibright Nigeria Limited, which controls ten
associate companies operating primarily in the construction, motor, engineering
and trading sectors. He is a previous director of Okada Air Nigeria and is a
current member of the governing council of the Igbinedion University, Nigeria.
In addition, he is the Chairman of Coral Oil and Gas, one of Nigeria`s leading
petroleum sector companies.
Bright is a highly successful businessman based in Nigeria with interests in
South Africa. He is the joint venture partner of Lagos keys development and has
been, and will continue to be, instrumental in the formulation and rollout of
the Issuer`s business activities in Nigeria and the rest of West Africa.
Adegboyega Oluwarotimi Austen-Peters
Timi obtained an LL.B (Hons) from the London School of Economics and Political
Science, University of London in June 1985. In 1986 he was called to the
Nigerian Bar Council for Legal Education, Lagos - Nigeria. In June 1987 he
obtained a LL.M. from Magdalene College, University of Cambridge and in
September 1998 he obtained a D.Phil (doctorate in law: custody of financial
assets) from Pembroke College, University of Oxford. On 16 January 2004 he was
sworn in as a Notary Public of the Federal Republic of Nigeria.
From September 1987 to September 1991 he worked as an Officer at the Centre for
Human Rights - United Nations Office at Geneva. From November 1991 to September
1994 he worked as a Senior Associate for Irving & Bonnar. From March to
September 1999 he worked as a Legal Consultant for African Development Bank..
From November 1999 to the present date, he has been a Principal at Austen-Peters
& Co where he provides advice to Nigeria`s National Pension Commission,
Securities and Exchange Commission, Bureau of Public Enterprises, banks, fund
managers and stock broking firms and various general commercial enterprises.
Andrew Vusi Fasedemi (Alternate)
Andrew graduated from the University of Lagos with a triple Honours degree in
Economics, Communications and Politics and his working career spans South Africa
and Nigeria. He worked for Cadbury Nigeria as a Brand Manager and Senior Brand
Manager for their largest brand and he worked for LenOil, the largest
independent oil company in Nigeria, as Global Corporate Affairs Manager.
In 1995, he joined the second largest public relations company in South Africa,
Sussens Mann as Accounts Director and later that year started a marketing
consultancy, within the Group, Sussens Mann Fasedemi, of which he was the
Managing Director.
In 1997, he took over the public relations consultancy within the Leo Burnett
Group as Chief Executive Officer and within one year was appointed Managing
Director of the largest company within the Group, Sonnenberg Murphy Leo Burnett.
A year later, Andrew took over as Group Chief Executive and was subsequently
given additional responsibility as Regional Managing Director for seven sub-
Saharan African countries.
He started the Business Marketing Consultancy - Wisdom Keys Group in 2001 and
three years later he started Wisdom Keys Investment Holdings. Andrew is
currently the Executive Chairman of Wisdom Keys and drives new business
development and acquisition.
He has been Deputy Chairman of the Advertising Association of South Africa,
President of the Direct Marketing Association and Director of a number of other
companies and has advised corporates and organisations such as NEPAD, COMESA,
MultiChoice, South African Post Office, Coca-Cola, McDonald`s, Department of
Transport, M-Net, Central Energy Fund, Nampak, MARS Africa, SA Tourism, Gauteng
Tourism amongst many others.
Ragavan Moonsamy
Raggi is currently managing director of Unipalm Investment Holdings
(Proprietary) Limited, a broad-based group with a 15% shareholding in Afripalm
Resources (Proprietary) Limited. He was a founding member of Kascara Financial
Investment Brokers in 1987. Since 1994, he has played a leading role in various
empowerment initiatives. He serves on a number of boards such as Growthpoint
Properties Limited, Draft FCB Advertising, Afripalm Resources (Proprietary)
Limited and Sahara Computers (Proprietary) Limited.
Johannesburg
04 November 2008
Designated Advisor: Transaction Attorneys to the
Arcay Moela Advisor: Pinnacle Point
Sponsors QuestCo Sponsors Group and Acc-Ross
(Proprietary) (Proprietary) shareholders:
Limited Limited Cliffe Dekker
Hofmeyr Inc
Independent expert: Reporting Attorneys to Acc-
Moore Stephens accountants to the Ross:
Corporate Finance Pinnacle Point Webber Wentzel
Group and Acc-Ross:
Mazars Moores
Rowland
Date: 04/11/2008 14:03:01 Produced by the JSE SENS Department.
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