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CMO
CMO
Chrometco - Resignation and appointment of directors, appointment of auditors
and cautionary announcement
CHROMETCO LIMITED
(previously known as "Sweet Equity Investments (Pty) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
(JSE Code: CMO & ISIN: ZAE000070249)
("Chrometco" or "the company")
RESIGNATION AND APPOINTMENT OF DIRECTORS, APPOINTMENT OF AUDITORS AND CAUTIONARY
ANNOUNCEMENT
Warning: The listing of ordinary shares in the company is on the AltX.
Shareholders are advised of the risks of investing in a company listed on the
AltX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the AltX. In terms of the JSE Listings
Requirements a Designated Advisor has to be retained by the company. The
Designated Advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE Listings Requirements and applicable
regulations are complied with, approve the financial director of the company and
guide the company in a competent, professional and impartial manner. If the
company fails to retain a Designated Advisor it must make arrangement to appoint
a new Designated Advisor within 10 business days, failing which the company
faces suspension of trading of its securities. If a Designated Advisor is not
appointed within 30 days of its suspension the company faces the termination of
its listing without an offer to minority shareholders.
The Board:
In compliance with paragraph 3.59 of the Listings Requirements of the JSE
Limited, the directors wish to announce the following appointments and changes
to the Board:
The board is pleased to announce the appointments of Mr. Stuart Simons as chief
operating officer and Mr. Trevor Scott as non-executive director. Mr. Bruce
Williamson remains non-executive chairman of the Board.
Mr. Josef De Beer resigned as financial director of the company due to other
business obligations, with effect from 17 March 2006. Mr. John Francey,
previously a non-executive director has been appointed financial director.
Mr. Edward Bramley, previously chief executive officer has been appointed non-
executive director. The formalisation of a new CEO appointment is awaited.
Remuneration Committee:
The remuneration committee"s members are Mr. Bruce Williamson, Mr Edward Bramley
and Mr Trevor Scott.
Audit/Risk/Corporate Governance and Compliance Committee:
The audit committee"s members are Mr. Bruce Williamson, Mr. Edward Bramley, Mr
Trevor Scott and Mr. John Francey (Invitee).
Auditors:
Shareholders attention is drawn to the fact that RSM Betty & Dickson has been
appointed new auditors of the company with effect from 17 March 2006.
Cautionary Announcement:
Shareholders are advised that the company has entered into negotiations, which
if successfully concluded may have a material effect on the price of the
company"s securities. Accordingly, shareholders are advised to exercise caution
when dealing in Chrometco"s securities until a full announcement is made.
17 March 2006
Pretoria
Designated Advisor
River Sponsors (Pty) Ltd
Date: 17/03/2006 02:02:07 PM Produced by the JSE SENS Department
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