ADR - Adcorp Holdings Limited - Consitution of the audit and risk committee
ADR
ADR
ADR - Adcorp Holdings Limited - Consitution of the audit and risk committee
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share Code: ADR ISIN: ZAE000000139
("the Company")
CONSITUTION OF THE AUDIT AND RISK COMMITTEE
Shareholders are referred to the announcement released on SENS on 7 March 2012
informing shareholders that Ms Amanda Alback resigned as an independent non-
executive director ("independent director") and member of the Audit and Risk
Committee ("Committee") on Tuesday 6 March 2012, following her permanent
appointment at Tongaat Hulett Starch.
In terms of section 94 (2) of the Companies Act 71 of 2008 as amended ("the
Act") the Company is required to have at least three independent members
comprise the Committee. Further, in terms of section 94 (6) of the Act, the
board is required to appoint a person to fill a vacancy within 40 business days
after the vacancy arises.
Due to the extensive process required to nominate a director who has the skills
and experience to form part of the Committee as required in terms of the Act,
the Remuneration and Nominations Committee have not yet finalised the
appointment of a Committee member.
As Ms Alback possesses both extensive knowledge and experience as a board member
and Committee member since her appointment on 14 April 2009, she has agreed to
be re-appointed to review and approve the Integrated Annual Report and the
financial results for the year ended 29 February 2012.
As a result, in compliance with paragraph 3.59 of the Listings Requirements of
the JSE Limited, shareholders are advised that Ms Alback has been re-appointed
as an independent director with effect from Monday 14 May 2012 and will then
resign as an independent director from the board with effect from Wednesday 23
May 2012.
Bryanston
14 May 2012
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 14/05/2012 16:18:58 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.
