| Fri 23 Oct 2009, 15:59 | | SAL - Sallies Limited - Changes to the Board of Directors |
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SAL
SAL
SAL - Sallies Limited - Changes to the Board of Directors
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL & ISIN: ZAE000022588
("the company")
CHANGES TO THE BOARD OF DIRECTORS
In accordance with paragraph 3.59 of the JSE Listings Requirements, shareholders
are advised of the following changes to the board of directors of Sallies ("the
board").
Mr Tom Dale retired by rotation at the Annual General Meeting but did not offer
himself for re-election and accordingly ceased to be a director with immediate
effect. He remains an employee of the company in his capacity as Chief Executive
Officer until 30 November 2009.
Mr Barney Esterhuyzen, non-executive director, resigned from the board on 22
October 2009.
Dr Fred Roux, non-executive chairman, and Mr Dennis Kerrison, non-executive
director were removed from the board by shareholders` ordinary resolution at a
general meeting called in terms of a shareholder`s requisition, on 22 October
2009.
Mr Nicholas Davidoff was appointed as a non-executive director by shareholders
resolution at a general meeting called in terms of a shareholder`s requisition,
on 22 October 2009. Nicholas is a US citizen. He is employed by New York based
Firebird Management LLC, the corporation that controls, through two managed
funds, 74% of the issued share capital of Sallies. At a board meeting held
shortly after the shareholder`s meeting Nicholas was appointed chairman of the
board.
Mr Andrew Kamau was appointed as a non-executive director by shareholders
resolution at a general meeting called in terms of a shareholder`s requisition,
on 22 October 2009. Andrew is a Kenyan citizen resident in South Africa with
considerable experience across the African continent in the last decade, having
worked for multinationals in East Africa and major trading organisations in
Europe. He is on the board of Kewberg Cables and Braids, a speciality cable
manufacturer, and of Khulaco (Pty) Ltd, one of the five private companies
licensed to import petroleum into South Africa. He is also chairman of Komati
Foundation, a non-profit organization, working specifically with students and
young professionals to nurture leadership skills and service ethics.
Johannesburg
23 October 2009
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 23/10/2009 15:59:01 Produced by the JSE SENS Department.
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