SPG - Super Group - Restructure of the Board and Resignation of directors
SPG
SPG
SPG - Super Group - Restructure of the Board and Resignation of directors
Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1943/016107/06)
ISIN number: ZAE000011334
Share code: SPG
("Super Group" or "the Group" or "the Company")
Restructure of the Board and Resignation of directors
In accordance with paragraph 3.59 of the JSE Limited Listings Requirements,
shareholders are advised that, following on the Group securing the proposed
recapitalisation and debt restructure, Larry Lipschitz has stepped down as chief
executive officer of the Group and Dheven Dharmalingam has resigned from the
board of directors ("the Board") of Super Group with effect from 20 April 2009.
Larry Lipschitz will remain on the Board as a non-executive director and will
act as an advisor to the new chief executive officer over a transition period.
Dheven Dharmalingam will assist the Group in a consultancy capacity as required.
The Board thanks Larry Lipschitz and Dheven Dharmalingam for their services and
significant contributions to the Group and wishes them well in their future
endeavours.
The process to appoint a new Group chief executive officer is underway. The
Board has asked its Deputy Chairman, Phillip Vallet to assume the role as
interim chief executive officer.
Sandton
17 April 2009
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 17/04/2009 17:33:01 Produced by the JSE SENS Department.
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