SKY - Sea Kay Holdings Limited - Changes To The Board And Business Update
SKY
SKY
SKY - Sea Kay Holdings Limited - Changes To The Board And Business Update
SEA KAY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/004967/06)
JSE code: SKY
ISIN: ZAE000102380
("Sea Kay" or the "company" or "the group")
CHANGES TO THE BOARD AND BUSINESS UPDATE:
Shareholders are advised of the following changes to the Sea Kay board with
effect from the date hereof:
The group`s CEO, Mr Farid Hartnick, has formally been appointed to the board
as an executive director. This follows his appointment as the group`s CEO with
effect from 7 September 2009.
Mr Mike Lomas has resigned as Chairperson of the board and as an independent
non-executive director as a result of his significant local and international
commitments in 2010. The board takes this opportunity to thank Mr Lomas for
his sage council, support and strategic leadership to both the board and
executive team and wishes him well with his future commitments.
Mr Akhter Deshmukh, currently an independent non-executive director, has been
appointed as the company`s non-executive chairperson. Mr Deshmukh has 21
months experience on the Board and will bring his extensive financial acumen
to it. The board welcomes him in his new role and looks forward to continuing
working with him.
Mr Mitesh Patel has been appointed as an independent non-executive director
and will also assume the role as Chairperson of the Audit Committee. Mitesh is
a Chartered Accountant (S.A.) and has extensive experience in the South
African auditing environment. Mitesh completed his articles with Deloitte &
Touche. In 2007 he was approached by Ernst & Young Inc. where he accepted a
partner position. He then joined Nkonki Inc. in 2008 as a partner/director.
He is also Chairperson of various Audit Committees and acts as an independent
non-executive director on a number of boards.
BUSINESS UPDATE:
The board advises that the group`s current turnaround plan and cost cutting
programmes are progressing well.
Johannesburg
4 December 2009
Sponsor
Vunani Corporate Finance
Date: 04/12/2009 12:52:01 Produced by the JSE SENS Department.
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