ACP
ACP
Acucap - Change to the board of directors
Acucap Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/021725/06)
Share code: ACP ISIN: ZAE000037651
("Acucap" or "the company")
CHANGE TO THE BOARD OF DIRECTORS
Further to an announcement released on SENS earlier today regarding the
completion of the introduction of Thesele Group (Proprietary) Limited
("Thesele") as an effective 10% BEE linked unitholder in Acuap, the board of
Acucap is pleased to announce that Sello Moloko, executive chairman and founder
of Thesele, has accepted an invitation to join the board of Acucap.
Sello completed a BSc Honours degree and a Post Graduate Certificate in
Education at the University of Leicester in England and the Advanced Management
Program (AMP) at The Wharton School at the University of Pennsylvania.
He began his career in the pensions industry where he gained a wealth of
actuarial consulting experience. He joined the investment management industry
in January 1996 as an analyst at Brait Asset Managers and became Deputy CEO in
April 1997. In August 1999 he joined Old Mutual Asset Managers ("OMAM") as a
senior portfolio manager, managing in excess of R25 billion of institutional
assets. In the process he became Executive Director responsible for OMAM"s
portfolio and risk management activities in 2001. In July 2003, he was
appointed as CEO of OMAM, a post he left in August 2004 to pursue his own
business interests. During his tenure at Old Mutual, he served on various
boards of the Old Mutual companies, including OMSA, Old Mutual Unit Trust and
the OMAM businesses in Bermuda, Namibia and Zimbabwe.
He is a non-executive director of Prudential Portfolio Managers, General
Reinsurance Africa, the Industrial Development Corporation and Makalani Holdings
Limited. Sello is the current national president of ABSIP and serves on the
Financial Sector Charter Council. He is a previous recipient of awards from the
Black Business Economic Circle and ABSIP for his achievements in financial
services.
Sello will lead Acucap"s transformation agenda at board level. The board
welcomes him, and looks forward to his contribution to the company"s continued
success.
Cape Town
5 September 2006
Sponsor
Nedbank Capital
Date: 05/09/2006 03:06:03 PM Produced by the JSE SENS Department
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