| Wed 2 Mar 2005, 13:04 | | Trading Update And Board Appointments |
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Tradehold Limited - Trading Update And Board Appointments
TRADEHOLD LIMITED
Registration number 1970/009054/06
Incorporated in the Republic of South Africa
Share code: TDH.
ISIN: ZAE000026902
(`Tradehold`)
Shareholders` attention is drawn to a statement issued by Tradehold`s
subsidiary, Brown & Jackson plc, on 2 March 2005 and which appears below.
`Trading Update and Board Appointments
Brown & Jackson plc is today issuing a trading update in respect of the year
ending 26th February 2005 and announcing changes to its Non Executive Directors
as part of a restructuring of the Board.
Trading Update
On 19th January 2005, Brown & Jackson announced its intention to update the
market at the end of the financial year ended 26th February 2005, and is pleased
to announce that the outcome for the year will be broadly in line with
expectations.
Preliminary results for the year ended 26th February 2005 will be announced on
the 28th April 2005.
Board Appointments
The Company also announces the appointment to the Board, with immediate effect,
of three Non Executive Directors: Sir Geoffrey Mulcahy, John Richards and John
Gnodde.
Sir Geoffrey Mulcahy, 62, has spent his career in the retail industry, most
recently as CEO of Kingfisher Group, one of Europe`s largest non-food retailers.
John Richards, 58, spent over twenty years as a retail analyst, including being
the number one rated retail sector follower for a number of years. He
currently runs his own retail strategic consultancy.
John Gnodde, 40, is currently a director of Brait, the South African based
international finance group, where he is also CEO of the private equity
business.
There are no details that are required to be disclosed under paragraph 6.F.2 (b)
to (g) of the Listing Rules of the UK Listing Authority.
The Company also announces that, with immediate effect, Gary Brown, Group
Finance Director, will assume executive responsibility for the Company`s
Distribution and Business Risk activities.`
Commenting on today`s announcement, Brown & Jackson`s Chairman, Christo Wiese
said:-
`We are pleased to announce that in this, the second year of our turnaround
programme, we have achieved significantly improved profitability. Much has been
achieved during the year and we are confident of our prospects for the year
2005/6. The transition to our new Distribution Centre is well advanced and it
will become fully operational from mid March.
`I am also delighted to welcome onto the Board such a wealth of experience. Sir
Geoffrey Mulcahy and John Richards bring with them impeccable retail credentials
and John Gnodde has extensive experience in the world of finance. Together they
significantly add to the strength of our Board and I am looking forward to their
respective contributions to our business.`
Cape Town
2 March 2005
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 02/03/2005 12:58:06 PM
Produced by the JSE SENS Department
