| Fri 30 Sep 2011, 13:17 | | UCS - UCS Group Limited - Appointment of group Chief Executive Officer |
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UCS
UCS
UCS - UCS Group Limited - Appointment of group Chief Executive Officer
UCS GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/002253/06)
Share code: UCS
ISIN: ZAE000016150
("UCS" or "the Group")
APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER ("CEO")
UCS is pleased to announce the appointment of Dean Sparrow as Group CEO with
effect 1 October 2011 whilst current CEO, John Bright, takes on a non-
executive position on the board.
A qualified Chartered Accountant, Dean Sparrow joined UCS from Deloitte &
Touche in 2002. Shortly thereafter he was appointed Group Chief Financial
Officer. In addition to his financial, reporting and governance
responsibilities he managed the execution of several acquisitions and was
directly involved in the restructuring of UCS` Software division. Dean
assisted with the Group`s initial BEE transaction, which was concluded in 2007
and was instrumental in the setting up of the Group`s offshore structures,
including an international acquisition.
Appointed Deputy CEO in April 2009, Dean directed a number of UCS` key duties
which incorporated Group-wide corporate activity. In this role he was
responsible for overseeing the investments division within which the Value
Added Services (VAS) businesses were established and grown, supporting the
successful disposal of the Enterprise Solutions business to HCL Axon
(Proprietary) Limited and driving the strategic exit from TSS Managed Services
(Proprietary) Limited. Over the past year, Dean has played the lead role in
the negotiation and execution of the disposal of five subsidiary companies
that comprised the Group`s Retail IT Services businesses, to Business
Connexion Group Limited.
John Bright, outgoing CEO of UCS, said: "Dean has played a key role in UCS`
growth and development over the past nine years including overseeing a broad
range of M&A activities across the Group.
"His extensive experience and intimate knowledge of the businesses is ideal to
take the Group forward as we enter a new phase in UCS` lifecycle, looking to
broaden our investment portfolio and geographic diversification as a pure
investment company for technology and associated businesses.
"I look forward to continue to work closely with Dean and the team in my new
non-executive role."
To date, the Group is on track to conclude the delisting of its shares from
the exchange operated by the JSE Limited on or about 25 October 2011 at which
time the name will also be changed to that of Capital Eye Investments Limited
as approved by shareholders at the general meeting of 22 September 2011. The
principles of good corporate governance will remain key principles for the on-
going management of the Group post delisting and therefore the board of
directors of Capital Eye Investments Limited will continue to be constituted
on a basis that upholds these principles together with the requirements of the
Companies Act 71 of 2008.
Johannesburg
30 September 2011
Corporate Advisor and Sponsor
One Capital
Date: 30/09/2011 13:17:09 Produced by the JSE SENS Department.
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