GMB - Glenrand MIB Limited - Separation agreement with Andrew Chislett
GMB
GMB
GMB - Glenrand MIB Limited - Separation agreement with Andrew Chislett
GLENRAND MIB LIMITED
(a Licensed Financial Services Provider)
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share code: GMB & ISIN: ZAE000078010
("Glenrand" or "the Company")
SEPARATION AGREEMENT WITH ANDREW CHISLETT
Shareholders are referred to the announcement by Glenrand and Aon South Africa
(Proprietary) Limited ("Aon") dated 9 December 2010 ("firm intention
announcement") in terms of which the parties announced the firm intention by
Aon to make an offer to acquire the entire issued share capital of Glenrand
("the proposed transaction").
It was stated in the firm intention announcement that Andrew Chislett and the
board of directors of Glenrand ("the Glenrand board") had agreed that Andrew
would stand down as Chief Executive Officer ("CEO") of Glenrand with effect
from 28 February 2011.
The Glenrand board is pleased to advise that it has subsequently reached an
agreement with Andrew in terms of which he will remain as CEO of Glenrand
until the date on which the proposed transaction becomes unconditional.
Additional details of the separation agreement with Andrew will be disclosed
in the scheme circular to be posted to Glenrand shareholders in due course.
Johannesburg
24 January 2011
Sponsor
Nedbank Capital
Corporate Advisor
Sasfin Capital
(a Division of Sasfin Bank Limited)
Date: 24/01/2011 11:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
