| Mon 1 Mar 2010, 9:30 | | BFS - Blue Financial Services - Appointment of Independent Non-Executive |
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BFS
BFS
BFS - Blue Financial Services - Appointment of Independent Non-Executive
Chairman
BLUE FINANCIAL SERVICES LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1996/006595/06)
JSE Code: BFS ISIN: ZAE000083655
("Blue" or "the Company")
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE CHAIRMAN
Blue, a Pan African micro-financier, is pleased to advise that Mr. Sipho Twala
has been appointed as independent non-executive chairman of the Company with
effect from 1 March 2010.
Mr. Twala served his articles with Deloitte & Touche in 1985 after completing
his BCom (UBS) degree and HDip Co (RAU). He has held senior positions at Shell
Oil, Nestle, Otis Elevator and African Bank. Mr. Twala has over 20 years`
financial experience, having been exposed to different industries such as micro-
finance, FMCG, mining and oil.
He serves as non-executive chairman of 1time Airline and a non-executive
director of Dust Aside SA (Pty) Limited. Sipho is currently an executive
director of Safomar Aviation.
Dave van Niekerk, founder and CEO of Blue, welcomed the appointment. "Sipho has
tremendous board and industry related experience. His appointment further
reinforces Blue`s focus on corporate governance structures, strengthening the
independence of the board`s composition."
The appointment follows decisive strategies implemented by the Board to bolster
the Group`s corporate governance structures, as reported to the market at the
release of its interim results in November last year.
1 March 2010
Designated Advisor: Grindrod Bank Limited
Date: 01/03/2010 09:30:27 Produced by the JSE SENS Department.
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