Lyons - Change in directors and renewal of caution
LYONS FINANCIAL SOLUTIONS
HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/022117/06)
Share code: LYS ISIN: ZAE000024709
("Lyons" or "the company")
Change in directors and renewal of cautionary announcement
With reference to the cautionary announcement dated 30 June 2003 and in terms of
Rule 3.67 to 3.71 of the JSE Listings Requirements, shareholders are advised
that the following changes in directors of Lyons have taken place, with effect
from today, 14 July 2003:
- Mr Robert John Mortimer has been appointed as interim Chief Executive Officer
("CEO"); and
- Mr Allan Dennis Cuzen and Mr Desmond Magua have been appointed as Non
Executive Directors.
Mr Michael Judin (Non Executive Chairman), Mr Ian Pierce (Non Executive
Director) and Mr Ian Hewett (CEO, who has been suspended as such) continue as
directors.
Mr Max Kretzmer has resigned with effect from 31 July 2003 for health reasons.
Shareholders are further advised that negotiations are still taking place, which
if successfully concluded may have a material effect on the price of the
company"s securities.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in Lyons shares, until a further announcement is made.
Sandton
14 July 2003
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
Corporate Law Advisors and Consultants
Edward Nathan & Friedland (Proprietary) Limited
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