APPLETON LIMITED
Incorporated in the Republic of South Africa)
Registration number 1999/004031/06)
Share code: ALE
ISIN code: ZAE000027488
("Appleton")
APPLETON LIMITED - CHANGES TO BOARD OF DIRECTORS
The directors of Appleton announce the following changes to the board pursuant
to the agreement for the acquisition of the company by PSG Investment Services
(PSGIS):
Bruce Sneddon, chief executive officer, and Wayne Rosenberg, deputy executive
chairman, will relinquish their executive positions and continue to serve on the
board as non-executive directors to assist in the seamless management transition
during the merger process.
The board expresses its thanks to Messrs Sneddon and Rosenberg for the
invaluable roles they have played in the leadership and management of the group
in recent years.
PSGIS assumed management control of Appleton with effect from 6 January 2003
(subject to the overall control and supervision of the Appleton Board) and
consequently Jaap du Toit, chief executive of PSGIS, has been appointed interim
chief executive of Appleton;
Theo Biesenbach, chief operating officer of PSGIS, has been appointed as an
alternate non-executive director to Jannie Mouton.
These changes are effective from 24 January 2003.
This information is disclosed in accordance with Section 3.67 of the JSE
Securities Exchange SA listing requirements.
Cape Town
27 January 2003
Date: 27/01/2003 05:11:19 PM Produced by the JSE SENS Department
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