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ANS - Ansys Limited - Resignation of a CEO
Ansys Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/001222/06)
(JSE code: ANS ISIN: ZAE000097028)
("Ansys" or "the company")
Change to the board of directors of Ansys
Shareholders are advised that Alan Holloway has resigned as CEO and
Director of Ansys with effect from 30 June 2012 in order to pursue
opportunities in the telecommunications sector. A new company controlled
by Alan will acquire Ansys` recently established telecommunications
business at a nominal consideration, to establish the platform for this new
venture. Ansys will retain a shareholding in the new company. Because of
the size of the transaction, it is not a related party transaction in terms
of paragraph 10.6 read with paragraph 21.11 of the JSE`s Listings
Requirements.
Alan has agreed to certain restrictions in respect of the future sale of
his shares in Ansys. He has also agreed to certain restraints in respect of
existing employees and clients of Ansys for a period of 24 months.
The board wishes to thank Alan for his contribution to Ansys, spanning a
career of some 10 years and wishes him and the telecoms business all the
best for the future. The chairman, Teddy Daka, will act as interim CEO
until a suitable replacement can be found.
11 June 2012
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 11/06/2012 07:05:02 Produced by the JSE SENS Department.
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