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ERB
ERB
ERB - Erbacon Investment Holdings Limited - Changes to the Board of Directors of
the Company and Designated Adviser
Erbacon Investment Holdings Limited
(Incorporated in the Republic of South Africa)
(Formerly Friedshelf 884 Limited)
(Registration number: 2007/014490/06)
Share code: ERB
ISIN: ZAE000111571
("Erbacon" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS OF THE COMPANY AND DESIGNATED ADVISER
CHANGE TO DESIGNATED ADVISER
PSG Capital (Pty) Limited ("PSG Capital") currently acts as Corporate Adviser to
Erbacon. In terms of JSE Limited ("JSE") Listing Requirement 21.26 PSG Capital
could not historically act as Designated Adviser to Erbacon as a result of an
associate of PSG Capital, who acts independently of PSG Capital, holding in
excess of 20% of the share capital in Erbacon. Post the implementation of the
transaction with Civcontract Civils (Pty) Limited ("Civcon") as referred to
below, the associate of PSG Capital now owns less than 20% of the share capital
in Erbacon. Accordingly shareholders are hereby advised that the board has
elected to appoint PSG Capital as Designated Adviser to the Company with effect
from 1 January 2010.
CHANGES TO THE BOARD OF DIRECTORS OF THE COMPANY
In compliance with rule 3.59 of the Listings Requirements of the JSE Limited,
shareholders of the Company are further advised that as a result of the
acquisition by Erbacon of the entire issued share capital of and all claims on
shareholders` loan account against Civcon, and the entering into of a preference
share subscription agreement with Medu Capital (Pty) Limited, on behalf of its
funds under management, the terms of which were included in a circular to
shareholders on 28 October 2009 ("the circular"), the following changes to the
board of directors of the Company ("the Board") have occurred with effect from 1
January 2010:
Appointments to the Board:
Nhlanganiso Phares Mkwananzi - Appointed as a Non-Executive Director of the
Company;
Zeyn Rashid Angamia - Appointed as a Non-Executive Director of the Company;
Charles Henry Alan Ramsay - Appointed as Executive Director of the Company; and
Alexis Hertzog Henning - Appointed as Executive Director of the Company.
* Brief CV`s of each director has been included in the circular to shareholders.
Resignations from the Board:
Sydney Mark Hedley;
Frans Petrus Boraine;
David Graham Armstrong; and
Wayne Michael Ric-Hansen.
4 January 2010
Durban
Designated Adviser
PSG Capital (Pty) Limited
Date: 04/01/2010 16:46:01 Produced by the JSE SENS Department.
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