Gilboa -
GILBOA PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004649/06)
Share code: GLB ISIN No: ZAE000010286
("Gilboa" or "the company")
CHANGE IN BOARD OF DIRECTORS
In compliance with sections 3.67 to 3.71 of the JSE Securities Exchange South
Africa Listings Requirements and pursuant to the announcement on SENS on 06
August 2003, the company is pleased to announce the following director
appointment effective immediately:
Andre Martin Janse van Vuuren (46) - appointed as Chief Executive Office ("CEO")
Andre became involved in the coloured slate tile business in 1989 when he
established Mikon Tiles (Proprietary) Limited ("Mikon"), sourcing slate tiles
for the wholesale and export market. In the following year he started cutting
and sealing slate for retailers to create market acceptance for slate tiles and
in 1993, Andre secured a mining permit to quarry Liebenberg slate on an
exclusive basis.
In 1995, Mazista Tiles (Proprietary) Limited ("Mazista") approached Andre with
an offer to purchase Mikon, and Andre became National Sales and Marketing
Director and a minority shareholder in Mazista. Andre sold his shareholding in
Mazista in 1998 and purchased Bargain Tiles, which he sold to Home Warehouse
(part of Boumat), becoming a director and shareholder in Home Warehouse. The
trading name of Bargain Tiles was changed to Absolute Tiles and operated as a
division of Home Warehouse.
In March 2002, Andre successfully negotiated the acquisition of the Absolute
Tiles division which lead to the formation of Absolute Tiles (Pty) Ltd
("Absolute Tiles") in April 2002 where he is the Managing Director. Absolute
Tiles sells local and imported tiles and has also formed Absolute Colleccions
(Proprietary) Limited ("Absolute Colleccions"), which company has applied for a
prospecting permit to mine slate and other deposits. A 51% shareholding in
Absolute Colleccions was sold to Calulo Investments (Proprietary) Limited in
June 2003. The slate will be mined and beneficiated for local and export sale
through Absolute Tiles.
By order of the board
Johannesburg
06 August 2003
Sponsor
Arcay Group Limited
Date: 07/08/2003 01:47:00 PM Supplied by www.sharenet.co.za
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