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Faritec Holdings Limited
(Registration number 1998/004872/06)Share code: FRT
ISIN: ZAE000016838
("Faritec")
APPOINTMENT OF EXECUTIVE DIRECTOR TO THE BOARD OF FARITEC
Faritec is pleased to announce that Dr Hasmukh Gajjar has been appointed as an
executive director to the board of Faritec.
Before joining Faritec, Dr Hasmukh Gajjar was the CEO of IT firm Consilience
Technologies, former chairman of the Black IT Forum and past president of the
Black Business Council. He serves on numerous IT and telecom bodies. A
University of Cape Town graduate, Gajjar practised as a medical doctor for 12
years. In 1987, in partnership with Rasheed Hargey, he launched software
distributor HNR Computers. Gajjar subsequently served as country manager for
WordPerfect. In 1996 Gajjar helped start Ndizani Technologies in Cape Town. He
left to become non-executive chairman of Vodacom Group, a position he held to
March 2000.
It was earlier announced that Dr Chris Jardine and Mr Jayendra Naidoo have been
appointed as non executive chairman and non executive director of Faritec
respectively.
Dr Chris Jardine is the group executive for operations at Jay & Jayendra (Pty)
Limited, an investment and management company with interests in various
companies in the technology and financial sectors. Before this, he was an
executive director at Transnet, with responsibility for the company"s technology
and property businesses. This role included direct responsibility for Transtel
and B2Bafrica, as well as oversight roles for Transnet"s investments in
Arivia.Kom, M-Cell and the V&A Waterfront. Jardine serves as a non-executive
director of numerous companies. He holds BSc and MSc degrees in computer science
and a PhD in information technology, all from George Mason University in
Virginia, in the US.
Jayendra Naidoo is the joint CEO of J&J Investments (Pty) Limited, the company
he started with former cabinet minister Jay Naidoo. He was the special
representative of President Thabo Mbeki, serving as chief negotiator for
Government on defence acquisition and counter trade negotiation. Between 1995
and 1999 he was executive director of the National Economic Development and
Labour council (Nedlac). He negotiated for Cosatu, and was responsible for
setting up the National Economic Forum, Nedlac"s predecessor. In 1991 he led the
ANC-ASCP-Cosatu team that negotiated the National Peace Accord.
The three directors, being representatives from the empowerment consortium that
has recently acquired a 30% interest in the main operating company of Faritec,
will be actively involved in the strategy setting and the management of the
company.
All of the appointments are effective immediately.
Simon Tomlinson
Chief Executive Officer
Sandton
21 July 2003
Sponsor:
Peregrine Corporate Advisory Services (Proprietary) Limited
(Registration number 2000/013672/07)
Date: 22/07/2003 02:36:50 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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