BILB-Executive Changes:
The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
("the Land Bank")
Executive Management
The Land Bank hereby wishes to announce that Ms. Loyiso Ndlovu, Executive Manager: Commercial
Development and Business Banking, has been found guilty of misconduct relating to the victimization
and ill-treatment of an employee of the Bank, and has been dismissed with effect 31/08/2019.
Mr. Sydney Soundy, Executive Manager: Strategy and Communications, as well as Mr. Faride Stiglingh,
Executive Manager: Portfolio Management Services will assume acting roles in charge of the
Commercial Development and Business Banking's Provincial Network and the Intermediary Channels,
respectively.
The Board expresses its support and responsibility for the stability of the Bank during this time of
change, and remains committed to upholding the highest standards of Corporate Governance and
Ethics.
03 September 2019
Enquiries
Land and Agricultural Development Bank of South Africa
Konehali Gugushe, Acting Chief Executive Officer
Rebecca Phalatse - Tel: 012 686 0921
Debt Sponsor
The Standard Bank of South Africa Limited
Date: 03/09/2019 02:20:00
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