CHANGES TO THE BOARD OF AVASA HOLDINGS
AVASA HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/013637/06)
Share Code: AVA ISIN: ZAE000040622
("AVASA Holdings")
CHANGES TO THE BOARD OF AVASA HOLDINGS
In compliance with rule 3.67 of the JSE listing Requirements:
AVASA Holdings is pleased to announce the appointment of Mr Sandile Zungu, as a
non-executive director to the board of AVASA Holdings Limited. Sandile is the
Chairman of Denel and brings substantial black empowerment investing experience
to the board of AVASA Holdings. He will assist the board in one of its key
objectives of ensuring that black economic empowerment investing results in the
creation of shareholder value.
Mr Jan Nel, having been instrumental in restoring the fortunes of the company,
has resigned as a non-executive director from the board of AVASA Holdings, but
will retain his investment stake in the company.
These changes to the board are effective from 14 April 2003.
Hyde Park
15 April 2003
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