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ALTRON BOARD: NEW APPOINTMENT
Allied Electronics Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1947/024583/06)
(Share code: ATN) (ISIN: ZAE000029658)
(Share code: ATNP) (ISIN ZAE000029666)
("Altron")
ALTRON BOARD: NEW APPOINTMENT
The Chairman of the Altron Group, Dr Bill Venter, today announced the
appointment of Jacob Modise as an independent non-executive director to the
Altron board, effective from 10 March 2003.
Mr Modise is currently the Chief Operating Officer of Johnnic Holdings Limited.
Before this appointment, he served the group as Finance Director over a period
of four years, overseeing three listed companies, Omni Media Corporation Limited
(renamed Johnnic Communications Limited), M-Cell Limited (renamed MTN Holdings
Limited) and Johnnic Holdings Limited.
Mr Modise has a BCom, a BAcc, and an MBA from Wits and is a qualified chartered
accountant. In addition he has an AMP from Harvard University (USA).
He is a member of the South African Institute of Chartered Accountants and
serves on its board. He also serves on the advisory boards of the Wits Business
School and the Nelson Mandela"s Children"s Fund. Other major directorships
include Eskom, The Land and Agricultural Bank, M-Net and SuperSport.
Commenting on this new board appointment, Dr Venter said: "We are honoured to
welcome Jacob as a non-executive director to our board. His business acumen is
well known in many of the industry sectors in which we operate. In addition, I
currently serve with him on the Investment Committee of the Nelson Mandela
Children"s Fund and I have seen the quality of his contribution at a high level.
Given his wide experience in the business world and his extensive telecoms and
media experience, I am looking forward to working closely with him on our board
for the benefit of Altron"s stakeholders."
Mr Modise"s appointment to the Altron Board follows the group"s announcement
last week of Lex van Vught as an independent non-executive director of Altron
and Advocate Dali Mpofu as an Executive Director. All these new appointments are
in line with the King II guidelines.
Ends
11 March 2003
Issued by:
Corporate Communications
The Altron Group
4 Sherborne Road
Parktown
Telephone: 011 645 3600
For more information:
Dr Bill Venter
Chairman
Contact person:
Salome Brown
Group Executive: Corporate Communications
Telephone: 011 645 3604
Cell: 082 564 6226
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