| Thu 22 Jun 2006, 16:57 | | Acc-Ross - Appointment of new CEO and reorganisati |
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ACC
ACC
Acc-Ross - Appointment of new CEO and reorganisation of the Board
ACC-ROSS HOLDINGS LIMITED
(Formerly Le-Sel Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/000059/06)
Share code: ACC & ISIN: ZAE000077335
("Acc-Ross" or "the company")
APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER AND REORGANISATION OF THE BOARD
New Chief Executive Officer ("CEO") appointment
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
the board of directors of Acc-Ross is pleased to announce the appointment of Mr
Wilfred ("Wilf") Robinson to the board as CEO with immediate effect.
Wilf is a chartered accountant and is the former CEO of Absa Private Bank.
After matriculating in 1973, Wilf joined Barclays Bank, gaining experience in
all aspects of branch banking. In 1980, he was selected as one of four
employees to study full time toward a B. Comm degree at the University of
Witwatersrand, which he completed in 1982. Wilf spent the next four years with
Barclays, until its withdrawal from the country in 1986. Thereafter, he joined
Pim Goldby, where he completed his articles and qualified as a CA (SA). In
1990, Wilf joined Allied Bank in their treasury department as Deputy Treasurer
and later after the merger into ABSA Group, became a General Manager in Group
Finance in 1994. In 1997, he was appointed as CEO of ABSA Private Bank, with
responsibility for researching the mechanics of and establishing the Private
Banking arm of ABSA, a position which he held until 2005, at which time the
Private Banking operations merged with the Personal Financial Services and Wilf
became "Executive Operations" of the new division.
Wilf joined Acc-Ross on 01 May 2006 in an executive capacity and has
subsequently agreed to the appointment as CEO. The board is excited about his
appointment and believes his strong financial and corporate governance
background will contribute to the continued growth and profitability of the
company.
Reorganisation of the board
Following Wilf"s appointment, Jaco Verster will become New Projects Director,
which is his specific strength and area of expertise. Andre Wiese remains the
Sales and Project Development Director and Nolene Owen as the Financial
Director.
In accordance with AltX Listings Requirements, shareholders are advised of the
risks of investing in a company listed on the AltX and 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, inter alia, to attend all
board meetings held by the company to ensure that all the 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 arrangements 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 minorities.
Arthur Mashiatshidi
Chairman
Johannesburg
21 June 2006
Designated Advisor
Arcay Corporate Services
Date: 22/06/2006 04:57:21 PM Produced by the JSE SENS Department
