| Tue 31 Mar 2009, 11:00 | | ABL/ABLP - ABIL - Changes to the board of directors and board committees |
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ABL ABLP
ABL
ABL/ABLP - ABIL - Changes to the board of directors and board committees
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP) (ISIN: ZAE000065215)
("ABIL")
CHANGES TO THE BOARD OF DIRECTORS AND BOARD COMMITTEES
ABIL has an approved term limit policy in respect of its board of directors,
whereby the chairman`s service tenure is limited to a maximum of ten years and
other non-executive directors to a maximum of eight years in total. In terms of
this policy, Ashley Sefako Mabogoane, Non-Executive Chairman, has reached his
term limit and therefore will resign from the boards of both ABIL and African
Bank Limited with effect from 1 April 2009.
The boards of ABIL and African Bank Limited express their sincere appreciation
to Ashley for the contribution that he has made to the success of the group over
the past 10 years.
The board has approved the appointment of Mutle Constantine Mogase as Non-
Executive Chairman of ABIL and African Bank Limited. Mutle was appointed to both
boards during March 2007, and his appointment as Non-Executive Chairman takes
effect from 1 April 2009.
Bahle Dawn Goba and Brian Paxton Furbank Steele have also reached their term
limits and therefore will resign their positions as Non-Executive Directors of
ABIL and African Bank Limited with effect from 21 May 2009, and are thanked for
their wise council during the tenure of their service to the group.
At the same time, the board is pleased to announce the appointment of two
Independent Non-Executive Directors, namely Robert John Symmonds (Johnny) and
Samuel Sithole (Sam), to the boards of ABIL and African Bank Limited with effect
from 21 May 2009.
The retirement of Ashley, Bahle and Brian, and the appointment of Mutle as
Chairman and Johnny and Sam to the board, has necessitated changes to the
membership of the sub-committees of the board, details of which are as follows:
Remuneration & Transformation Committee:
Mpho Nkeli - Chairman;
Bahle Goba - member until 21 May 2009;
Ashley Tugendhaft - member;
Mutle Mogase - member.
Risk & Capital Management committee:
Nic Adams - Chairman;
Ashley Tugendhaft - member;
Brian Steele - member until 21 May 2009;
Johnny Symmonds - member from 21 May 2009;
Sam Sithole - member from 21 May 2009.
Audit Committee:
Dave Gibbon - Chairman;
Nic Adams - member;
Brian Steele - member until 21 May 2009;
Johnny Symmonds - member from 21 May 2009;
Sam Sithole - member from 21 May 2009.
Directors Affairs Committee:
Ashley Tugendhaft - Chairman;
Dave Gibbon - member;
Nic Adams - member;
Mutle Mogase - member;
Mpho Nkeli - member.
Midrand
31 March 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 31/03/2009 11:00:02 Produced by the JSE SENS Department.
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