| Tue 15 Mar 2011, 10:45 | | ABL/ABLP - African Bank Investments Limited - Changes to the board of Directors |
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ABL ABLP
ABL
ABL/ABLP - African Bank Investments Limited - Changes to the board of Directors
and Board Commitees
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP) (ISIN: ZAE000065215)
("ABIL" or "the group")
CHANGES TO THE BOARD OF DIRECTORS AND BOARD COMMITEES
In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:
ABIL has an approved term limit policy in respect of its board of directors
("the board"), whereby the Chairman`s service tenure is limited to a maximum of
ten years and other Non-Executive Directors to a maximum of eight years in
total. In terms of this policy, David Braidwood Gibbon (Non-Executive Director)
and Ashley Tugendhaft (Non-Executive Director) have reached their term limit and
therefore will retire from the boards of both ABIL and African Bank Limited with
effect from 31 March 2011.
The boards of ABIL and African Bank Limited express their sincere appreciation
to David and Ashley for the contribution that they have made to the success of
the group over the period of their tenure.
At the same time, the board is pleased to announce the appointment of two
Independent Non-Executive Directors, namely Ntombi Langa Royds and Jack Koolen,
to the boards of ABIL and African Bank Limited with effect from 15 March 2011.
Ntombi holds an LLB degree and has 24 years experience in the Human Resources
Environment. She started a wholly owned black female corporation, Nthake
Consultants CC, in 1999, specialising in HR Management and allied services.
Jack is an independent advisor. In addition, he lectures, on a part-time basis,
at the Gordon Institute of Business Studies since 2001, in the areas of
strategy, competitiveness and choice, integrating insights from competitive
strategy, logic systems and behavioral economics. He holds an MBA from the
University of the Witwatersrand in Johannesburg (1989) and a B Comm from the
Hogere Economische School in Groningen, Netherlands (1982).
The retirement of David and Ashley and the appointment of Ntombi and Jack to the
board have necessitated changes to the membership of the sub-committees of the
board, details of which are as follows:
Group Audit Committee
Existing Constitution New Constitution
David Gibbon (Chairman) Sam Sithole (Chairman)
Nic Adams Johnny Symmonds
Johnny Symmonds Nic Adams
Sam Sithole
Group Risk and Capital Management Committee
Existing Constitution New Constitution
Nic Adams (Chairman) Nic Adams (Chairman)
Sam Sithole Johnny Symmonds
Johnny Symmonds Mojanku Gumbi
Oshy Tugendhaft
Group Remuneration and Transformation Committee
Existing Constitution New Constitution
Mpho Nkeli (Chairperson) Ntombi Langa Royds(Chairperson)
Mutle Mogase Mutle Mogase
Oshy Tugendhaft Mojanku Gumbi
Directors Affairs Committee
Existing Constitution New Constitution
Oshy Tugendhaft(Chairperson) Mutle Mogase (Chairman)
David Gibbon Sam Sithole
Nicholas Adams Nicholas Adams
Mutle Mogase Mojanku Gumbi
Mpho Nkeli Ntombi Langa Royds
Midrand
15 March 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/03/2011 10:45:30 Produced by the JSE SENS Department.
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