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WTL
WTL
WTL - William Tell Holdings Limited - Changes to the board of directors
WILLIAM TELL HOLDINGS LIMITED
Incorporated in the Republic of South Africa)
Registration Number: 2004/030045/06)
JSE Code: WTL ISIN: ZAE000098133
("William Tell" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS
1. In compliance with paragraphs 3.59(a) and 3.59(b) of the Listings
Requirements of the JSE Limited, shareholders are hereby informed of the
following changes to the Board of directors ("the Board"):
2.1 Mr. Barry Lok has been appointed as Executive Chairman of the
Board, whereas Mr. Clyde Lok will remain on the Board as a non-
executive director and as Chairman of the Social and Ethics
committee;
2.2 Mr. Anthony de la Rue has been appointed as lead independent
non-executive director of the Board;
2.3 The three independent non-executives Anthony de la Rue, Mike
Borello and Rob Scott ("the independent non-executives") have
been appointed as members of the Audit and Risk Committee with
Mr. Rob Scott being appointed as Chairman thereof;
2.4 The independent non-executives have been appointed as members
of the Remuneration and Nominations Committee with Mr. Anthony
de la Rue being appointed as Chairman thereof;
2.5 The Board has established two new committees viz.:
2.5.1 A Production Committee comprised of Mr Mike Borello
as chairman, Barry Lok together with the production
management. The Production Committee will focus on
expediting the optimisation of production efficiencies
and volumes going forward.
2.5.2 A Business Development Committee Comprising Rob
Scott as Chairman together with the executive sales and
marketing team. This committee will focus on the strategy
for growth in sales and distribution.
2.6 The resignation of Mr. Neville de Winnaar as executive
director from 1 February 2012 - Neville de Winnaar will remain
in a non-executive roll until 30 April 2012 to ensure an
orderly hand over of his portfolio;
2.7 The resignation of Evan Badenhorst as Financial Director of
the Company with effect from 30 April 2012 to ensure an
orderly hand over to a successor.
2.8 The resignation of Mr. Johan Diederiks as Chief Executive
Officer and executive director from 1 February 2012.
2. The Board would like to thank Evan, Johan and especially Neville
for their contributions to the Company and wishes them well in
their future endeavours.
3. Barry Lok founded William Tell in 1980 and his vast knowledge of
the business and industry is highly regarded. The Board would like
to welcome Barry`s return as an executive and looks forward to
valued contributions. Shareholders will be duly advised of the
appointment of a Financial Director to succeed Evan Badenhorst.
Barry Lok will be supported by a Group General Manager to allow his
focus on optimisation of production efficiencies and implementation
of a growth strategy.
Johannesburg
1 February 2012
Designated advisor: PSG Capital Proprietary Limited
Date: 01/02/2012 17:06:45 Produced by the JSE SENS Department.
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