ALLIED ELECTRONICS CORPORATION LTD - Changes to Executive Responsibilities at Altron
AEN AEL 201507160071A
Changes to Executive Responsibilities at Altron
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
Share code: AEN ISIN: ZAE000191359
(“Altron” or “the company”)
Changes to Executive Responsibilities at Altron
Shareholders are referred to the announcements released by the company on SENS on 16 April
and 20 May 2015 respectively, pertaining to Altron’s new strategic direction and Mr CG Venter’s
separation from the Altron group.
In accordance with Altron’s previously stated intention to significantly reduce central costs by
creating a leaner management structure and in order to further extract benefits and synergies from
the revised corporate structure whereby Altron transitions from purely an investment holding entity
to an operational company, the Altron tmt executive committee will be disbanded and certain
executives thereof incorporated in a reconstituted Altron executive committee.
Accordingly and in compliance with paragraph 3.59 (c) of the JSE Limited’s Listings Requirements,
shareholders are advised that with effect from 1 August 2015, the reconstituted Altron executive
committee will comprise of the following executives:-
- Mr RE Venter (Altron Chief Executive and Chairman of the Executive Committee)
- Mr AMR Smith (Altron Chief Financial Officer)
- Mr DM Ramaphosa (Group Executive: Corporate Affairs)
- Dr WH Oosthuysen (Group Executive: Technology and Strategy)
- Mr PR Riskowitz (Group Executive: Corporate Finance)
- Mr RJ Abraham (Operations Executive: Information Technology)
- Mr L Savage (Operations Executive: Telecommunications and Multimedia)
- Mr NM Kayton (Operations Executive: Power)
- Mr AG Johnston (By invitation – for the Secretaries)
Each of the aforementioned executives will report directly to Altron’s Chief Executive, Mr RE
Venter.
Johannesburg
16 July 2015
Sponsor
Investec Bank Limited
Date: 16/07/2015 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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