MGX - Resignation of director and composition of Board
MGX Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/0012697/06)
Share code: MGX
ISIN: ZAE000009262
("MGX" or "the Company")
Resignation of director and composition of Board of MGX
Pursuant to the sale of MGX Storage Solutions (Proprietary) Limited referred to
in the Company"s announcement dated 22 August 2003, Mr Dan McMahon has resigned
as an Executive Director of the Company.
Until the conclusion of the restructuring of MGX, no head office Chief Executive
Officer will be appointed. Mr Mike Braby has been appointed as an Executive
Consultant to the Board and is assisting the Board with its disposal programme.
The Board now comprises two executive and three non-executive directors of whom
two are independent. Discussions are in progress with the intention of
appointing an additional independent director.
29 August 2003
Sandton
Sponsor
Standard Corporate and Merchant Bank
A division of The Standard Bank of South Africa Limited
(Registration number 1962/000738/06)
Date: 29/08/2003 03:33:57 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
