| Wed 26 Jan 2011, 17:22 | | IFC - IFCA Technologies Limited - Board Restructure |
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IFC
IFC
IFC - IFCA Technologies Limited - Board Restructure
IFCA TECHNOLOGIES LIMITED
Incorporated in the Republic of South Africa)
(Registration number 2006/030759/06)
Share code: IFC ISIN: ZAE000088555
("IFCA Tech" or "the company")
BOARD RESTRUCTURE
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
the board of directors of IFCA is pleased to announce the appointment of Mr
Colin Wayne Clarke as independent non-executive chairman with immediate effect.
Ms Thoko Mokgosi-Mwantembe has resigned as a director pursuant to Kutana
Investments Group Limited disposing of its entire shareholding in IFCA a
separate announcement in this regard is to be made once a cash confirmation has
been provided to the Securities Regulation Panel.
Colin Wayne Clarke
Mr Colin Wayne Clarke, an American lawyer having obtained a Bachelor of
Political Science and Law Degree in the USA and completed an MBA at Oxford
University in England, has more than 16 years work experience in more than 46
African countries, and is an Advocate in the High Court of South Africa.
In the early 90`s Mr Clarke served as legal counsel in the BP Amoco acquisitions
department, served as Deputy Director of Trade and Investment for The African
American Institute, worked as project manager and head of operations at Lance
Bailey & Associates in the USA and South Africa and served as legal counsel and
partner with two southern African focused private equity funds, namely, Southern
African Enterprise Development Fund (SAEDF) and the Sloan Financial Group`s (New
Africa Opportunity Fund).
From January 2009 to May 2010, Mr Clarke was Chief Operating Officer of the
National Empowerment Fund ("NEF") where he was responsible for strategy and
planning, asset management, marketing departments and group operations.
In 2000, Mr Clarke and partners founded Kaga Partners (formerly CES Capital)
specializing in advising and origination of transactions for clients in Africa.
Currently Mr Clarke is a director of Kaga Partners and member of the investment
committee for Sishen Iron Ore Company Community Development Trust.
In addition, Mr Ian Jeremy Jones will be resigning as a director and Mr Anthony
Mark Barnard has been appointed as acting Chief Executive Officer.
Pursuant to the above changes, the IFCA board will comprise the following:
Name Status
Colin Wayne Clarke Independent Non-Executive
Chairman
Anthony Mark Barnard Acting Chief Executive
Officer
Mark Shaw Financial Director
Mike Gahagan Independent Non-Executive
Mark Palmer Independent Non-Executive
Zacharias Johannes van Niekerk Non-Executive
Kian Keong ("Jack") Yong Non-Executive
Johannesburg
26 January 2011
Designated Advisor
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Date: 26/01/2011 17:22:01 Produced by the JSE SENS Department.
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