PAM - Palabora Mining Company Limited - Changes to
PAM
PAM
PAM - Palabora Mining Company Limited - Changes to directorate
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1956/002134/06)
JSE code: PAM ISIN: ZAE000005245
("the Company or Palabora")
CHANGES TO DIRECTORATE
In compliance with section 3.59 of the Listings Requirements of the JSE,
Palabora hereby announces the following change to its Board of Directors:
With effect from 01 February 2007, the resignation of Mr. Rufus M. Maruma as a
non executive director. In April 2005, Mr. Maruma declared his involvement in a
consortium which has expressed an interest in taking an ownership share in
Palabora under the requirements of Black Economic Empowerment (BEE). Mr. Maruma
ceased to participate on the Board due to the potential conflict of interest and
has not participated in any Board discussions or Company business since. In the
interest of good corporate governance, Mr. Maruma has tendered his resignation.
With immediate effect, the appointment of Mr. George Negota as Chairman of the
Board. Mr. Negota was appointed an independent non-executive director in May
1998. He is a practising attorney. Mr. Negota established a legal firm, Negota
Incorporated Attorneys in June 1998. He has conducted a number of commissions of
enquiry on behalf of Government. He has led a team that restructured ESKOM and
has also conducted a study on the rationalisation of state assets in Mpumalanga.
He is currently involved in a project in preparation for the Gauteng express
train. He is the former Chairman of the Cross Border Transport Agency and he is
the current Chairman of the Gauteng Operating Licence Board and Kuthele Projects
(Pty) Limited. He is a Director of the N3 Consortium, ORT Step South Africa,
Read Education Trust, the National Institute for Community Education and BKS
Group Holdings (Pty) Limited. Mr. Negota is also a member of the Income Tax
Appeal Court. He has BA (Hons) and MCom degrees from Rand Afrikaans University,
and LLB and BCom (Hons) degrees from Unisa. In addition, Mr. Negota holds a
Higher Diploma in Tax Law and a Higher Diploma in Company Law from Witwatersrand
University and a Certificate in Tax Law from Unisa.
Phalaborwa
14 February 2007
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 14/02/2007 14:30:02 Produced by the JSE SENS Department.
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