RESULTS OF AGM AND DIRECTORATE CHANGES
Shareholders are advised that all resolutions considered today at the Company`sannual general meeting, including the special resolutions to amend AECI`s
articles of association and to authorise the Company`s directors to repurchase
the Company`s shares, were approved.
Furthermore, AECI Limited is pleased to announce the appointment of Fani Titi(42) as a non-executive director of the Company, with immediate effect.
Fani is chairman of the Tiso Group, the leading party in AEL`s empowerment
partnership established last year. In addition, he is a former founding
director of Kagiso Trust Investment Company, founding chief executive of KagisoMedia Limited and a former executive director of African Bank Investments
Limited.
His qualifications include BSc (Hons), MA and MBA degrees. Current
directorships include Kumba Resources, Investec Bank Limited and Investec plc.AECI welcomes Fani and looks forward to his input.
Cedric Savage (66) will retire from his position as non-executive director of
AECI Limited. He has served on the Board since 1997 and has also been a member
of the audit, nominations and remuneration committees. The Board wishes torecord its appreciation for the valuable contribution that Cedric`s extensive
experience has brought to all these areas over the last eight years.
Sandton
23 May 2005Sponsor
J.P. Morgan Equities LimitedDate: 23/05/2005 12:09:07 PM Produced by the JSE SENS Department
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