Iliad Africa Limited - Changes To The Board Of Dir
Iliad Africa Limited - Changes To The Board Of Directors
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA ISIN: ZAE000015038
(`Iliad`)
CHANGES TO THE BOARD OF DIRECTORS
Mr Greg Psillos, the non-executive chairman of Iliad, has announced his
retirement from the board of directors with effect from 10 May 2005 (the date of
the Annual General Meeting).
Mr Psillos was the founder of Iliad and has been a director since its listing in
June 1998. He has worked closely with the CEO, Mr Ralph Patmore, in
transforming Iliad from a market capitalisation of R160 million into a R1.5
billion group.
Mr Psillos is also a major shareholder of Iliad and is confident that Iliad will
continue its excellent growth under the current board of directors and
management team.
His successor, Mr Howard Turner, has been a non-executive director of Iliad for
the past two years. Mr Turner has chaired both the audit and risk assessment
and the remuneration committees. He recently retired as the Deputy Chief
Executive Officer of Group Five Limited and is currently a director of the
Automobile Association of South Africa and Consol Limited.
Shareholders are referred to the announcement dated 10 December 2004 relating to
the introduction of The Women Private Equity Fund (One) (`the WPEF`) as a Black
Economic Empowerment shareholder into Iliad (`the transaction`). Following the
approval of the transaction by the Iliad shareholders at a general meeting held
on Friday, 18 March 2005, Ms Busi Mabuza, an executive director of the WPEF`s
fund manager, has been appointed as a non-executive director of Iliad with
effect from 31 March 2005.
Johannesburg
1 April 2005
Sponsor: Bridge Capital Services (Pty) Limited
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
