| Tue 12 Jan 2010, 16:46 | | WEZ - Wesizwe Platinum Limited - Wesizwe Directorate |
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WEZ
WEZ
WEZ - Wesizwe Platinum Limited - Wesizwe Directorate
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/020161/06
JSE code: WEZ & ISIN: ZAE000075859
(the "Company" or "Wesizwe")
Wesizwe Directorate
Shareholders are advised that at a directors` meeting held on Monday, 11
January 2010, the directors elected Ms. Dawn Mokhobo as the Board`s Chairman
with immediate effect. It was also confirmed that Mr. Michael Solomon will
continue in his role as Chief Executive Officer.
The Board has also appointed a Chairman`s Oversight Committee comprising
the Chairman of the Company and the Chairs of the four Board Committees.
This Committee will have direct oversight of the day-to-day governance,
operational and strategic matters and will report back to the Board at
scheduled meetings throughout the year. This will allow the Board to make
timeous and informed decisions regarding the raising of funds and any other
corporate action that is either in progress, or may eventuate.
The full Board now comprises:
Dawn Mokhobo Independent Non-Executive Chairman
Michael Solomon Chief Executive Officer
Machiel Eksteen
Prof Peter Gaylard
Mlibo Mgudlwa
Ezekiel Monnakgotla
Adv Kgomotso Moroka
Goleele Mosinyi
Robert Rainey
Julian Williams
The Board Committees comprise:
Chairman`s Oversight Committee
Dawn Mokhobo Chairman
Goleele Mosinyi Chairman of the Audit and Risk Committee
Prof Peter Gaylard Chairman of the Technical Committee
Mlibo Mgudlwa Chairman of the Remuneration and Nomination Committee
Julian Williams Chairman of the Finance and Investment Committee
Board Committees
Audit and Risk
Goleele Mosinyi Chairman
Julian Williams
Rob Rainey
Dawn Mokhobo
Community member to be appointed
Remuneration and Nomination Committee
Mlibo Mgudlwa Chairman
Dawn Mokhobo
Kgomotso Moroka
Peter Gaylard
Rob Rainey
Community member to be appointed
Finance and Investment Committee
Julian Williams Chairman
Goleele Mosinyi
Kgomotso Moroka
Mike Eksteen
Michael Solomon
Community member to be appointed
Technical Committee
Prof Peter Gaylard Chairman
Mlibo Mgudlwa
Mike Eksteen
Michael Solomon
Community member to be appointed
The incoming Chairman, Dawn Mokhobo said "The newly-formed Board
of Directors of Wesizwe has held its first meeting and I am delighted
with the quality and strength of the members of the Board and the skill
set that they bring to Wesizwe. The Board Committees have been populated
with members who are all experienced in their respective fields, and together
with the appointment of Non-executive, Independent Board Members as the chairs
of the Board Committees, we are fully compliant with King 3 in terms of the
Board structure. I am comfortable that going forward, these Committees will
engender strong governance especially since there are at least three
independent Board members per Committee. The inception of the Oversight
Committee will also enable the Board to respond more timeously to critical
decisions that need to be made by the Company. I believe that we have a
tremendous asset with significant potential and the restructured Board
will not only remain firmly focused on realising shareholder value, but
we will also ensure that employee morale is enhanced
and all stakeholders` objectives are aligned".
The Oversight Committee will work closely with an independent reviewer to
assess all governance procedures around the Company. Part of this mandate
will include issues that have been raised over the last few months with
respect to governance and other strategic matters. This work will be done
as a matter of absolute urgency.
Amongst the priorities in the short term will be to appoint a new Finance
Director and also to enter into dialogue with the Bakubung Ba Ratheo
Community with respect to resolving its representation on the Wesizwe Board.
Until this matter has been resolved, Acting-Kgosi Ezekiel Monnakgotla will
continue to represent the Community on the Board.
Shareholders are advised that Dr. MH Mathe and Mr. CG Knobbs have tendered their
resignations with effect from 11 January 2010.
Johannesburg
12 January 2010
Sponsor
Investec Bank Limited
Date: 12/01/2010 16:46:01 Produced by the JSE SENS Department.
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