| Wed 5 Aug 2009, 17:30 | | VOX - Vox Telecom Limited - Appointment Of Independent Non-Executive Directors |
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VOX
VOX
VOX - Vox Telecom Limited - Appointment Of Independent Non-Executive Directors
And Changes To The Board
VOX TELECOM LIMITED
(Registration number: 1998/016433/06)
("Vox Telecom" or "the Company")
JSE Code: VOX ISIN Code: ZAE000097234
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS AND CHANGES TO THE BOARD
In compliance with paragraph 3.59 of the Listings Requirements of the JSE
Limited, the Board of Directors of Vox Telecom ("the Board") is pleased to
advise shareholders that Messrs. Vulindlela (Vuli) Cuba and Douglas Wallace
have been appointed as independent non-executive directors of the Company with
effect from 1 August 2009. The appointments have been made to align the
composition of the Board with the provisions of the Corporate Laws Amendment
Act No. 24 of 2006 and the revised corporate governance requirements as
contemplated in the King Report on Corporate Governance. Vuli Cuba will act as
non-executive Chairman of the Board. Tony van Marken`s designation has
changed from Executive Chairman to Chief Executive Officer, with Doug Reed
assuming the responsibilities of Group Managing Director.
Shareholders are further advised that Messrs. JA du Toit and GP Sweidan have
resigned as main board directors of the Company with effect from 1 August
2009, but will remain executive committee members and executive directors of
Vox Orion and Vox Datapro respectively. The Board wishes to thank Jacques and
Gary for their valuable contributions. We look forward to their continued
operational leadership and contribution to the Vox Telecom group of companies.
In addition, shareholders are advised that Dr. N (Lulu) Gwagwa has resigned as
a main board director, with effect from 1 August 2009, but will act as an
alternate director to Mr. RT Dalais. The Board wishes to thank Lulu for her
considerable support to the Company, and looks forward to her continued
assistance to the Vox Telecom group of companies.
The new Board is therefore constituted as follows:
Independent non-executive directors:
- V Cuba (Chairman)
- D Wallace
Non-executive directors:
- RT Dalais
- P Joubert
- T Matiwaza
Dr. N Gwagwa will serve as an alternate to RT Dalais.
Executive directors:
- AP van Marken (Chief Executive Officer)
- DG Reed (Group Managing Director)
- CM von Holdt (Chief Financial Officer)
The Audit, Risk, Remuneration and Nominations Committees have been re-
organized as follows:
Audit and Risk Committee:
D Wallace (Chairman)
V Cuba
Remuneration Committee:
D Wallace(Chairman)
V Cuba
RT Dalais
Nominations Committee:
V Cuba (Chairman)
D Wallace
P Joubert
Background information on new directors:
Vuli Cuba holds a BSc (Land Surveying) from the University of Fort Hare, BSc
(Information Systems) from UNISA and an MBA from the London Business School.
He founded NGN Telecoms and is currently executive chairman of its South
African and international operations.
He has extensive experience in management consulting, operations management
and leadership and mergers & acquisitions. He has had a successful career
across numerous industries with companies including Accenture, Monitor
Consulting, Safika Holdings, Shell, Octagon and MTA Consulting.
Vuli currently holds the following directorships:
- Executive Chairman of NGN Telecoms
- Non-Executive Director of Foschini Limited
- Non-Executive Chairman of Destiny Corporation
- Non-Executive Chairman of Mustek Limited
- Non-Executive Chairman of JCSE (Johannesburg Centre for Software
Engineering at Wits University)
Doug Wallace is a Chartered Accountant, having completed his articles at
Deloitte Plender Griffith Annan & Co in Cape Town in 1971. Doug worked at
Deloitte from 1965, when he commenced his career as an audit clerk. Since
1976 he has acted as an audit partner at Deloitte where he has served a wide
variety of companies.
He was the lead client service partner of De Beers Group and E Oppenheimer &
Son from 1999, where he was responsible for coordinating professional services
of Deloitte to the De Beers Group globally. He also participated in the
unbundling of the De Beers Group and Anglo American, as well as the delisting
of and restructuring of De Beers. Doug retired in 2005 and now sits on the
Board of Trustees of the Epoch Trust, a charitable trust formed by Anglo
American plc as part of its social responsibility.
The Board welcomes Vuli and Doug to the Company and believes their extensive
experience will add tremendous value to the Board`s strategic and independent
thinking.
Johannesburg
5 August 2009
Designated advisor: PSG Capital (Proprietary) Limited
Date: 05/08/2009 17:30:01 Produced by the JSE SENS Department.
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