ZAPTRONIX LIMITED - APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER
ZAPTRONIX LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/014928/06)
Share code: ZPT ISIN: ZAE000015145
(`Zaptronix` or `the company`)
APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER
Shareholders are advised that Mr Jan Nel, until now a non-executive Zaptronix
director and one of the Gandalf Trust (`Gandalf`) representatives on the board,
has been appointed as the new Chief Executive Officer of the company with
immediate effect.
Jan is a co-founder of Gandalf, the controlling shareholder of Zaptronix, and
holds a Masters Degree in Applied Mathematics. His strong analytical background
and wealth of management experience have been central to numerous successful
corporate restructure operations engineered by Gandalf. Jan currently serves in
a non-executive capacity on the boards of, amongst others, JSE-listed Spectrum
Shipping Ltd and Milkworx Ltd.
Jan`s initial primary task as new CEO will be to look for further opportunities
to grow the company, both organically and acquisitively. His passion for
technology and sound strategic awareness of industry developments is seen as
vital for Zaptronix as the company enters this next phase in its revitalisation.
The company is leveraging new strategic initiatives and products against its
existing automatic meter reading technology. In addition, the proposed
acquisition of DuO Solutions Provider Ltd (`DuO SP`) also forms an important
part of the growth strategy by adding to Zaptronix`s number of solution channels
and giving the company access to central bureau functionality and an in-house
development team. The acquisition of DuO SP is subject to regulatory and
shareholder approval and is expected to be concluded in the first quarter of
2005.
Midrand
10 January 2005
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