ACT/ACTP - Afrocentric Investment Corporation Limited - Changes to the Board
ACT ACTP
ACT
ACT/ACTP - Afrocentric Investment Corporation Limited - Changes to the Board
AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Formerly WB Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE code: ACT, ACTP
ISIN: ZAE000078416, ZAE000082269
("Afrocentric" or "the Company")
CHANGES TO THE BOARD RESIGNATION AND APPOINTMENT OF DIRECTORS
Shareholders will be aware that with effect from 23 March 2010 the listing of
AfroCentric ordinary shares and AfroCentric preference shares were moved from
the Food
Producers - Farming and Fishing Sector to the Healthcare Sector List. This
became necessary and appropriate to reflect the weighted nature of the company`s
more material investments in the healthcare sector and the more likely expansion
of its healthcare assets and technologies.
The board of directors has also been restructured and shareholders are advised
that Prof. Derrick Swartz, Mr Mandla Gantsho and Ms Nomhle Canca have tendered
their resignations as non-executive directors with effect from 19 May 2010, 31
May 2010 and 2 June 2010 respectively and Dr. Anna Mokgokong and Mr. Joe
Madungandaba have been appointed as non-executive directors to the board with
immediate effect. Messrs Mokgokong and Madungandaba hold non-executive
directorships on the Boards of AfroCentric investments Jasco and Lethimvula,
executive directorships on the Board of Community Investment Holdings, a major
shareholder of AfroCentric, as well as non-executive directorships on a number
of other Black-empowered and Black-owned businesses including Distell.
The board wishes to thank Messrs. Swartz, Gantsho and Canca for their valuable
contribution to the company over the years and simultaneously welcomes Messrs
Mokgokong and Madungandaba as new board members.
By order of the board.
Michael Sacks
Secretary
10 June 2010
(A division of Sasfin Bank Limited)
Date: 10/06/2010 17:10:02 Produced by the JSE SENS Department.
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