> Johnnic Holdings today announced the appointment of two new chairmen to
> head the boards of Johnnic Communications (JohnCom) and M-Cell.
>
> Mashudu Ramano replaces Johnnic chief executive, Paul Edwards as chairman
> of JohnCom, while Phuthuma Nhleko is M- Cell's new chairman in place of
> Irene Charnley. Both Edwards and Charnley will remain on the boards as
> executive directors.
>
> Johnnic Holdings chairman, Cyril Ramaphosa, said the announcements were in
> keeping with Johnnic's commitment to the King Code of Corporate
Governance,
> which recommends the appointment of non-executive chairmen for listed
> companies.
>
> Nhleko is chief executive of Worldwide African Investment Holdings and a
> director of a range of listed and unlisted companies, including Bidvest,
> Metlife and Johnnic Publishing. He is also a non-executive director of
> Johnnic Holdings
>
> Ramano, already a director of JohnCom, is chairman of African Harvest and
> the Airports Company of South Africa (ACSA), and a director of Transnet.
>
> Both Ramano and Nhleko are members of the National Empowerment Consortium,
> which is a 33% shareholder of Johnnic Holdings.
>
> Ramaphosa also announced that he would be replaced by Edwards as chairman
> of Johnnic Publishing (formerly TML), the group's publishing and media
> group which is 100% owned by JohnCom. "It makes sense for wholly-owned
> subsidiaries to have boards that are under greater control of management,"
> Ramaphosa explained. Ramaphosa will remain chairman of Johnnic Holdings.
>
> JohnCom is currently in the process of unbundling a 34.1% shareholding in
> M-Cell to shareholders. Its major holdings post-unbundling will be 100%
> of Johnnic Publishing, Johnnic Entertainment and Johnnic e-Ventures.
>
> ***
>
>
> Issued by Johnnic Communications Limited
> 28 Harrison Street
> JOHANNESBURG
> Telephone: (011) 373 7111
>
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