| Mon 7 Sep 2009, 16:30 | | MKX - Milkworx Limited - Changes to the Board of D |
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MKX
MKX
MKX - Milkworx Limited - Changes to the Board of Directors
MILKWORX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/011074/06)
Share code: MKX & ISIN: ZAE000058020
("Milkworx" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS
In compliance with paragraph 3.59 of the Listings Requirements of the JSE
Limited, Milkworx announces that, pursuant to the agreement entered into for the
acquisition of Ububele Holdings Limited ("Ububele") by way of a share swap and
in consultation with the JSE Limited, the following directors have been
appointed to the Board of Milkworx with immediate effect:
Mr Herbert William ("Bertie") Cloete;
Mr Matthys Petrus Mocke ("Thys"); and
Mr Johannes Theodorus Kleinhans ("Theo").
These directors will be non-executive directors until such time as shareholders
have approved the interim appointment in general meeting, at which point they
will become executive directors with Theo as Chief Executive Officer and Bertie
as Financial Director.
In addition, in compliance with the JSE Limited`s Listings Requirements, Ms Rene
Viviers has been appointed as the interim financial director of Milkworx until
such time as Milkworx shareholders approve the acquisition of Ububele, following
which, Mr Bertie Cloete will become the financial director.
The following directors of Milkworx have resigned with immediate effect, Ms
Jacqui Usher and Dr Heidi Renate Grimmer.
The Board of Directors of Milkworx would like to thank them for their valuable
contribution to the Board leading up to this transaction.
Brief curriculum vitaeas of the new directors are set out below:
Bertie Cloete : B Comm (Stellenbosch), CMA (London), MBL (UNISA)
Bertie obtained a degree in Commerce at the University of Stellenbosch in 1989
and completed the CMA and his accounting internship in 1994. During 1995 he
obtained his associate membership.
Bertie completed a Masters degree in Business Leadership at the University of
South Africa in 2000 and started his doctorate degree in Business Leadership
(DBL), at UNISA in 2008. He was the financial manager for a large construction
and civil engineering companies in South Africa until 1995, with a turnover of
up to R100 million.
Thereafter until 1999, Bertie was the financial director of one of the biggest
fruit juice processors, with a turnover of up to R120 million.
During 2000 in conjunction with other private equity partners and financiers he
started his own entrepreneurial company, Unibert. Most of these investments are
in property, food and leisure related businesses.
He is one of the co-founders of the Ububele Group and currently serves on
numerous Board of Directors in and outside of the Ububele Group.
Theo Kleinhans - BMil (Comm), Adv Dip Logistics Management
Theo graduated from the University of Stellenbosch with a Bachelor of Military
Science (Commercial) in 1985. From 1971 until 1989, he was employed by the South
African Navy, from whom he resigned at the end of 1989 with a final rank of
Commander. From 1990 to 1993, he was employed by GKN Chep as a Sales Manager for
the then Transvaal region. After being promoted to Regional Business Manager in
1993, he resigned in order to start his own business.
From 1993, Theo established and built Aerofare (Pty) Limited, an in-flight
catering company servicing various operators in South Africa. The company was
sold to Gate Gourmet at the end of 1996. During the period 1996 to 1999, Theo
worked as a consultant to the airline catering industry whilst running a retail
outlet at Cape Town International Airport. Subsequent to this he was the
managing director and majority shareholder of Ground Crew (Pty) Limited, an in-
flight catering business. From March 2003 until present, he has served as the
Chief Executive Officer of Ububele Holdings (Pty) Ltd
Thys Mocke - BA LLB
Thys practised as an attorney of Law at Morkel Olivier P du Toit Attorneys from
1994. As a partner in the firm he focused on commercial and maritime law cases.
During this time he has been involved in various mergers and acquisitions as a
consultant as well as the privatising of corporate assets to Personnel
In 1997 he was a founder member of a BEE fishing group and in the same year he
became the first CEO of the SA Commercial Fishermen`s Corporation (Pty) Ltd, a
position he held until October 2000. He then joined Wipcapital (Pty) Ltd, a BEE
Corporate Finance company and private equity house.
Thys left Wipcapital (Pty) Ltd in 2001 to start his own Private Equity Fund. He
was a founder member of Ububele Holdings (Pty) Ltd in 2002. Thys has vast
experience in doing business in Africa and in various African countries.
Rene Viviers
Rene started her career in the Travel Industry as an Accountant. She then
accepted a position at Leasing & Finance Company as Group Accountant. Rene was
also the Financial Manager for Junk Mail Distribution and Niehaus & Ungerer
Pathologists and managed a day clinic in Pretoria.
Apart from her BCom studies, Rene has also educated herself in various
certificates and courses and has a strong business analysis and accounting
systems knowledge.
Rene joined Milkworx as a Consultant in November 2008, to implement cost and
management accounting in the Milkworx factories and has been responsible for
implementing an improved accounting system for the company. In April 2009 Rene
took over the position as general manager and following the resignation of the
financial director in April 2009, Rene has successfully assumed responsibility
for the full financial accounting system. Following the appointment of Bertie
Cloete as Financial Director, Rene will continue to retain responsibility for
the financial reporting and control of the Milkworx facility.
Pretoria
07 September 2009
Designated Advisor:
Arcay Moela Sponsors (Proprietary) Limited
Date: 07/09/2009 16:30:01 Produced by the JSE SENS Department.
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