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Imperial Holdings Limited - Changes to the Board of Directors
Imperial Holdings Limited
Registration number: 1946/021048/06
Share code: IPL
ISIN: ZAE000003620
(`Imperial`)
Changes to the Board of Directors
Mr Percy Abelkop, the founder of the group, has tendered his resignation as non-
executive director due to advancing age and the strains of travelling to board
meetings from his residence in the United States. The board has, with regret
accepted his resignation as non-executive director with acknowledgement of his
significant contribution to the group.
Mr Sizwe Tati has resigned as non-executive director as he has taken up a
position with a commercial bank, which could give rise to potential conflicts of
interest. He is thanked for his valuable contribution to the group.
Imperial is pleased to announce the following appointments to the board as non-
executive directors:
Mr Younaid Waja, who is a commissioner of the Public Investment Commissioner
(PIC), the largest shareholder in Imperial (18%). He will serve as non-
executive nominee of the PIC. He is a director of Pareto Ltd, a trustee of the
Diabo Share Trust, a member of the Staff Management Board of the Office of the
Auditor General and an accountant member of the Special Income Tax Court.
Ms Phumzile Langeni, who is a stockbroker and a director of Barnard Jacobs
Mellet Securities. She is a member of the Presidential Advisory Committee on
Youth Matters and serves on the ALTX advisory board. Phumzile will serve as an
independent non-executive director.
The changes to the board of directors took effect on 25 June 2004.
Both the appointments further enhance Imperial`s black empowerment initiatives.
Six out of seventeen directors are historically disadvantaged individuals,
representing 35% of the total. The PIC`s active involvement will also promote
Imperial`s indirect equity ownership.
After implementation of the changes, the board will be constituted as follows:
Executive Directors Non-executive Directors
WG Lynch (Chief Executive) L Boyd (Chairman)
RJ Boettger E Molobi (Deputy Chairman)
MP de Canha PL Erasmus
RL Hiemstra P Langeni
AH Mahomed MJ Leeming
GW Riemann VJ Mokoena
CE Scott JP McAlpine
MV Sisulu
A Tugendhaft
Y Waja
Imperial is further pleased to announce that Mr Osman Arbee will join the group
on 1 September 2004 as a member of the Executive Committee of the board. He was
previously a senior partner at Deloitte & Touche. He will be responsible for
Enterprise and Business Development and will also be Imperial`s representative
on the board of Ukhamba, the group`s empowerment partner. In addition, his
appointment will further contribute towards the Group`s commitment to achieving
its empowerment objectives.
Company Secretary
RA Venter
By order of the Board
28 June 2004
BEDFORDVIEW
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 28/06/2004 02:47:35 PM
Produced by the JSE SENS Department
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