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KUMBA WELCOMES TICOR BOARD RESTRUCTURE
KUMBA RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
("Kumba")
News Release
Telephone : + 27 (12) 307 4843 P.O. Box 9229
Telefax : + 27 (12) 307 4080 PRETORIA 0001
6 April 2004
KUMBA WELCOMES TICOR BOARD RESTRUCTURE
Kumba Resources Ltd "Kumba" has welcomed the decision to reconstitute the Ticor
board of directors following the announcement yesterday (5 April 2004) by
Messrs. Richard Carter and Peter Bradfield to resign from the board at the
forthcoming annual general meeting.
Kumba had previously advised of its intention to nominate one of its directors,
Charles Meintjes as a director, but to also propose a reduction in the total
number of directors on the Ticor board from eight to seven, of whom only two
would be Kumba appointees. This has been a strategy that has been developed and
adopted over the last two years.
Dirk van Staden, Kumba"s financial director, said he welcomed the opportunity
for the Ticor board to be rejuvenated and for the renewed focus that a new
independent chairman will bring to the board.
"We are firmly committed to sound corporate governance principles and are
pleased that Ticor will continue to have an independent chairman and a majority
of independent directors following these changes. This is consistent with best
practice.
"We look forward to working co-operatively with all stakeholders to ensure that
returns are maximised from Ticor"s outstanding portfolio of assets," he said.
On 27 February 2004 Kumba lodged notices under section 203D(2) to reduce the
number of directors from eight to seven and to appoint Charles Meintjes as a
director. The changes to the Ticor board that Kumba proposed reflected a desire
to decrease the overall size of the board and ensure an appropriate skills mix.
We would like to take this opportunity to thank Messrs Carter and Bradfield for
the contributions that they have made to the company and the board, and wish
them well in their future endeavours.
Sponsor
JPMorgan
About Kumba
Kumba is one of the largest South African based mining companies and is listed
on the JSE Securities Exchange in South Africa. It is a focused mining company
with a diversified portfolio of assets comprising of iron ore, heavy minerals,
coal, base metals and industrial minerals.
For further information: Visit the Kumba website www.kumbaresources.com or
contact:
For investor relations enquiries:
Trevor Arran
General Manager: Investor Relations
Tel: 012 - 307-3292
Mobile: 083 609 1444
For media relations enquiries:
Pat Mdoda
General Manager: Corporate Affairs
Tel: 012 - 307-4553
Mobile: 083 609 1204
Date: 06/04/2004 08:00:04 AM Produced by the JSE SENS Department
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