| Thu 14 Jun 2001, 0:00 | | Comparex Holdings Ltd - Executive Changes At Compa |
|
JOHANNESBURG, South Africa - June 14, 2001
Comparex Holdings Limited today announced the resignation of Mr Carel van
der Merwe, Executive Director, Corporate Finance with effect from 15 July
2001.
CEO Rian du Plessis expressed his regret at the departure of Mr van der
Merwe: "Carel made a significant contribution to Comparex during his
appointment and successfully completed a number of important corporate
finance initiatives. However, I respect his decision, which was made for
family and personal reasons."
John Cohen, currently Executive Director Human Resources and Group Legal,
will assume responsibility for the Corporate Finance function, which,
together with his current responsibilities, will be consolidated into a new
Group Corporate Services function. Du Plessis will continue to work closely
with the Corporate Finance team to assist them in the implementation of the
Group's acquisition strategy.
Du Plessis added: "During the past year Carel helped to essemble an
extremely capable corporate finance team, with three experienced
professionals in London, and one in South Africa. Comparex is more committed
than ever to further expanding its presence in the territories it is already
represented in and to extend its geographic presence to those European
countries in which it is currently not represented. We have both the
financial and human capital available to turn the strategic plan into
reality. The extreme volatility in the global technology stock markets
since the beginning of the year resulted in a delay in implementing suitable
acquisitions . We have been particularly cautious in preserving shareholder
value in all targeted acquisitions. We are actively evaluating a number of
opportunities and remain confident that one or more of these will be
concluded in due course."
About Comparex
Comparex Holdings is an EMEA "Best of Breed" integrator of eBusiness
Solutions. The group has an annual turnover of approximately Euro 1 billion,
with offices throughout the EMEA (Europe/Middle East/Africa), a workforce of
almost 7 000 and derives about half of its revenues from continental Europe.
Its customers include the leading companies in Austria, Belgium, Botswana,
the Czech Republic, England, Germany, Hungary, Luxembourg, Namibia, the
Netherlands, Poland , South Africa, Slovakia and Spain. Compares is listed
on the JSE Securities Exchange SA and trades under the symbol CPX. Further
information on Comparex can be obtained at its corporate website, which can
be accessed at http://www:comparex.com
