Oceana Group Limited - Reconstitution Of The Board
Oceana Group Limited - Reconstitution Of The Board Of Directors
OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1939/001730/06
SHARE CODE : OCE
ISIN CODE : ZAE 000025284
("Oceana")
RECONSTITUTION OF THE BOARD OF DIRECTORS
In order to commence the process of implementation of the principles of
corporate governance set out in the King Report on Corporate Governance for
South Africa 2002 pertaining to the composition of boards of directors and,
in particular, to accommodate the future appointment of appropriate
independent non-executive directors to the board of Oceana ("the board"),
Messrs R M Kramer, RDeH Steenkamp, AWS Visagie and alternates, Messrs AL
Hobbs, LT Langeni, RA Oktober and GA Rhodes-Harrison have resigned their
executive directorships with effect from 28 June 2002. The executive
directors who have resigned from the board all retain their existing
executive management positions within the group and Oceana`s operations will
be unaffected by their resignation.
Therefore, with effect from 28 June 2002, the board will be constituted as
follows -
Non-executive directors : Messrs DMJ Ncube (chairman), RA Williams (vice-
chairman), DF Behrens, MA Brey, BP Connellan, N Dennis, S Pather and RV
Smither
Executive directors : Messrs AB Marshall (managing director) and RG Nicol
(financial director)
Shareholders shall be advised in due course as to the proposed appointment
of independent non-executive directors to the board.
Cape Town
28 June 2002
Date: 28/06/2002 05:10:00 PM Produced by the SENS Department
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