| Fri 26 Feb 2010, 16:07 | | ATN/ATNP - Altron - Directors Retirement and Appointmen |
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ATN ATNP
ATN
ATN/ATNP - Altron - Directors Retirement and Appointmen
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code : ATN ISIN : ZAE000029658
Share Code : ATNP ISIN : ZAE000029666
("Altron" or "the company")
Directors Retirement and Appointmen
Retirement of Mr PD Redshaw as Chief Executive Officer of Bytes Technology Group
(Pty) Limited ("Bytes") and appointment of Mr R Abraham as his successor
Shareholders are advised that after 22 years of dedicated service to the Altron
group, Mr David Redshaw, the chief executive officer of the Bytes group will be
retiring, with effect from 1 March 2010.
Notwithstanding David`s retirement as the chief executive officer of Bytes, he
will continue for the foreseeable future to remain associated with the group, by
assuming the chairmanship of Bytes UK`s operations and remaining on the Altron
board as a non-executive director.
Accordingly and in accordance with paragraph 3.59 (c) of the JSE Listings
Requirements, shareholders are advised that Mr Redshaw`s capacity on the Altron
board will change from being an executive director to a non-executive director
of the company, with effect from 1 March 2010.
During his tenure with the Altron group, David was primarily instrumental in
building the Altron group`s information technology capacity to what it is today
and what was the second largest IT concern in SA by market capitalisation, just
prior to Bytes delisting in 2008. Management takes this opportunity of thanking
David for his loyal contribution to the entire Altron group over the past 22
years and wishes him well on his retirement.
Shareholders are further advised that with effect from 1 March 2010, Mr Rob
Abraham, the current managing director of Bytes Document Solutions has been
appointed as the new chief executive officer of the Bytes group. Rob has held
several senior and executive positions within the Altron group for the past 12
years which has included managing Bytes Document Solutions, the largest
operation within the Bytes group. As part of his additional responsibilities,
Rob will join the Altron executive committee as a member.
Johannesburg
26 February 2010
Sponsor
Investec Bank
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