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WLL
WLL
Wellco - Appointment of Chief Financial Officer
Wellco Health Limited
(formerly Nungu Trading 279 (Pty) Ltd)
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
Share code: WLL & ISIN: ZAE000071841
("Wellco" or "the company")
APPOINTMENT OF CHIEF FINANCIAL OFFICER
In compliance with section 3.59 of the Listings Requirements of JSE
Limited, the board of directors of Wellco hereby notifies its shareholders
that Mr. Andile Khumalo, who currently serves as a non-executive director
and head of the Audit Committee of the company, has been appointed as the
Chief Financial Officer, effective 01 October 2006.
Andile is a chartered accountant with experience in corporate finance,
financial management and auditing. In 2003, Andile joined Investec
Corporate Finance and during his tenure was part of the team that advised
on the merger of Growthpoint Properties Limited with Primegro Properties
Limited (R5 billion) and the acquisition by the Bidvest Group of McCarthy
Limited (R1 billion). In late 2004, Andile left Investec to start an
investment company of his own, M-Stone Capital, which currently has
investments in logistics, professional services and in the health industry.
Andile also serves as an alternate director on the Directorate of Market
Abuse, which is under the auspices of the Financial Services Board.
Andile is the Chairperson of the Johannesburg branch of ABASA (The
Association for the Advancement of Black Accountants of Southern Africa).
Brendyn Meyer has resigned as Chief Financial Officer of the company
effective 01 October 2006, to pursue personal interests.
28 September 2006
Pretoria
Designated Advisor
River Group
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.
Date: 29/09/2006 08:00:11 AM Produced by the JSE SENS Department
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