Sage - Resignation Of Non-Executive Director
SAGE GROUP LIMITED
Sage Group Limited
Reg. No. 1970/010541/06
Share Code: SGG
ISIN: ZAE000006623
("Sage" or "Sage Group")
RESIGNATION OF NON-EXECUTIVE DIRECTOR
IN ACCORDANCE WITH THE REQUIREMENTS OF PARAGRAPH 3.67 OF THE LISTINGS
REQUIREMENTS, THE FOLLOWING IS ADVISED:
Sage announces the resignation, with effect from 31 October 2002, of non-
Executive Director Dr Dirk Mostert from the Sage Group board.
In terms of a shareholders` agreement ("the shareholders` agreement"), between
Financial Securities Limited (a wholly-owned subsidiary of Remgro Limited),
Sagecor (Pty) Limited, Absa Group Limited, the Mine Employees Pension Fund and
the Sentinel Mining Industry Retirement Fund (collectively referred to as "the
Funds"), these shareholders have the right to nominate appointees to the Sage
Group board. In terms of the shareholders` agreement, the Funds nominated Dr
Mostert to the Sage Group board in October 1997. The trustees of the Funds have
since decided not to have nominated directors on the boards of companies where
they have such a right. Consequently Dr Mostert has tendered his resignation
from the Sage Group Limited board. The Funds nevertheless retain their right,
in terms of the shareholders` agreement, to nominate one or more appointees to
the Sage Group board.
The composition of the Sage Group board following the resignation is as follows:
Non-Executive Executive
H L Shill (Chairman) J P Davies
M P Adonisi J E Henderson
Dr D C Cronj L Kaplan
B J du Plessis R I Marsden
D M Falck B Nackan
G Griffin
Dr B M Ilsley
J H Postmus
C D Stein
C L van Wyk
Adv T van Wyk
W D Winckler
5 November 2002
Date: 05/11/2002 03:50:00 PM Produced by the JSE SENS Department
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