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CGR
CGR
CGR - Calgro M3 Holdings Limited - Changes to the board of directors
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/027663/06)
Share Code: CGR & ISIN: ZAE000109203
("Calgro" or "the company" or "the group")
CHANGES TO THE BOARD OF DIRECTORS
In compliance with paragraph 3.59(c) of the Listings Requirements of the JSE
Limited ("JSE"), the board of directors of Calgro hereby announce that Mr Ben
Pierre Malherbe ("Ben Pierre") has been appointed as Chief Executive Officer
("CEO") and that Mr Deon Noel Steyn ("Deon") has been appointed as Chief
Operating Officer ("COO") to Calgro with effect from 11 December 2009.
Ben Pierre was acting CEO since February 2009 and was the obvious candidate.
He obtained his Bachelor of Science (Quantity Surveying) from the University
of the Orange Free State. He then went on to obtain his masters in Business
Administration and MBA from the Stellenbosch School of Business. Ben Pierre
started as a quantity surveyor for civil engineering company Con Roux
Construction and later joined Stocks and Stocks Roads & Civils. After
spending seven years as project manager in the affordable market segment in
2001 he and his brother Brand joined forces with the Steyn brothers to form
Calgro specializing in residential development. Ben Pierre is responsible
for the group`s highly acclaimed Pennyville project, an integrated housing
development. Ben Pierre was appointed as Calgro`s COO when the group was
listed in 2007 and took over the CEO`s function during January 2009.
Deon, director of the main operating company and founder of Calgro in 1995
was ideal for the role and have been for filling the role since February
2009. Deon obtained his Bachelor of Science (Quantity Surveying) from the
University of the Orange Free State. He is a registered Quantity Surveyor
(Republic of South Africa), a Member of the Association of South African
Quantity Surveyors as well as the Council of South African Quantity
Surveyors. Deon worked as a quantity surveyor for four years in the practice
of Farrow Laing & Partners after which he started CALC Quantity Surveyors
specialising development of medical centres and project management in the
affordable housing market sector. Calgro was started in 1995 by Deon and his
brothers, Derek and Douw. Deon took over the responsibility of COO during
2009.
The board similarly wish to extend their best wishes to Mr Malherbe and Steyn
with their new role.
Johannesburg
14 December 2009
Designated Adviser
PSG Capital (Pty) Ltd
Date: 14/12/2009 14:42:01 Produced by the JSE SENS Department.
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