| Fri 16 Feb 2007, 16:43 | | VER - Vestor - Change In Control |
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VER
VER
VER - Vestor - Change In Control, Changes to board of directors and renewal
of cautionary announcement
VESTOR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)
Share code: VER & ISIN: ZAE000089595
("Vestor" or "the company")
CHANGE IN CONTROL, CHANGES TO BOARD OF DIRECTORS AND RENEWAL OF CAUTIONARY
ANNOUNCEMENT
Change in Control
Shareholders are advised that there has been a change in control through
Trinity Asset Management (Proprietary) Limited acting as a nominee for
parties to be named in due course. The change in control has been effected
through an initial sale of 43 000 000 shares at 6.5 cents per share and the
injection of further assets is pending. The transaction is an affected
transaction in terms of the Code of the Securities Regulation Panel ("SRP")
and an offer to minority shareholders will be made at 6.5 cents,
simultaneously with the injection of the new assets. The former majority
shareholders, namely Darryl White and Johan van der Burgh have irrevocably
waived their right to an offer in respect of 16 114 697 shares still held by
them. A cash confirmation letter amounting to R1 613 404.84 has been put in
place with the SRP. A further announcement will be made in due course.
Changes to the board
The changes to the board of directors are as follows with immediate effect:
M Antonie Resigned
JE van der Burgh Resigned
LD van Wyk Resigned
DJA White Resigned
SLL Peteni Acting Chairman
GS Edwards Executive director
PWJ Bouwer Executive director
NR MacDonald Non-executive director
MD van Rooyen Non-executive director
S Swana Non-executive director
Brief curriculum vitae are set out below:
Mr Sindile Lester Leslie Peteni
Sindile has a B Sc (Building Science) degree from UCT. He has been a
contract manager with the Urban Foundation, technical services manager with
Uluntu Utility Company and managing director with Khagula Property
Developers. Sindile is heavily involved in shipping, technology and
petroleum projects as wells as having ownership of a fishing company.
Sindile is a Director and Chairman of various Companies and resides in South
Africa.
Mr Gordon Stanley Edwards
Gordon is an international business developer and entrepreneur in the IT
Services and Telecommunications sector. He has led the formation and
management of numerous consortia in different geographies and has an
excellent understanding of the challenges and opportunities presented by
emerging markets. Gordon formed part of the founding and listing team of
Datatec Ltd in 1994. Thereafter he performed a number of senior management
functions, including responsibility for the company`s mobile computing
subsidiaries growth into international markets, but served primarily as
Executive Chairman for the Datatec subsidiary RangeGate (UK). In this role
Gordon was the architect of the international expansion strategy and he led
the Datatec Group`s successful entry into the UK market. After leaving
Datatec in 2002, he is a founding member of the Adage Group of Companies in
the UK, which plays advisory and principal roles in telecoms, IT and
financial services businesses in the UK and Africa. He is a Director of
various Companies in the UK and SA. He currently resides in South Africa.
Mr Pieter Willem Johannes Bouwer
Pieter is an industry veteran with more than 30 years in the ICT industry
and with extensive experience in Executive, Business and General Management.
Pieter was involved with companies such as Olivetti, Amdahl, ICL and Philips
during the early years of his career and in the later years, as an Executive
Director, with Sybase and, more recently, the AST Group amongst others. He
resides in South Africa and is a Director of various Companies.
Mr Norman Ross Macdonald
Ross holds a BSc in Engineering and an MBA, both obtained from the
University of Cape Town. Ross is an International Business Developer and
Entrepreneur in the Telecommunications/IT sector. Ross formed part of the
start-up team of MTN in 1993 and was Group Executive for International
Business Development. Ross was the architect of the international expansion
strategy and he led the Groups successful bids for numerous mobile licenses
across the African Continent. After leaving MTN in 2002, he relocated to
London where he continued his work in Telecommunications operating a
specialist Telecoms advisory and consulting business. He is a Director of a
number of private and public Companies in the UK and SA. He currently
resides in London.
Mr Martin Deon van Rooyen
Deon qualified as a Chartered Accountant at PricewaterhouseCoopers ("PWC")
where he worked as an auditor and as part of the Audit, Corporate Finance
and Management Consulting team for more than 10 years. He left PWC at the
end of 1994 to join a leading commercial group with Listed and Private
Companies. His responsibility, with a specialised team, was to turn certain
subsidiaries around and take control of all financial responsibilities of
that team. After a successful period with this group, he left to form his
own consulting practice in 1997. Deon has a passion for the new South
Africa and this lead to his association with various Black Empowerment
Groups in South Africa. He is currently part of an International Investment
Team that specialises in Structured Finance and Strategic Management of
Corporate Assets and is a Director of various Companies in South Africa.
Mr Sandile Swana
Sandile was born in Johannesburg and matriculated at St John`s College,
Umtata. He completed a B.Comm under the Anglo American Scholarship
Programme at Wits University, Johannesburg and later completed the Business
Advisors Programme at WBS-Centre for Developing Business. He holds an MBA
from the University of Pretoria as well as a B.Th in Ethics from UNISA. He
has received sponsorship from the Department of Transport for part of the
degree Honors B.Comm (Logistics) at UNISA which he completed. Sandile has
prepared and presented conference papers for IPSA, Supply Chain Council and
SAPICS. He spent seven years in the retail sector with Caltex Oil and Zenex
Oil where gained experience in business planning, oil retail and general
management. He has also worked as group operations manager for the JSE
listed, Don Group. He is non-executive Director of JSE listed Aflease Gold
and Matodzi Resources and is a member of the Institute of Directors. Sandile
resides in South Africa.
Change in Sponsor
Vestor has appointed Arcay Moela Sponsors (Pty) Ltd as sponsors with
immediate effect.
Change in Company Secretary
Arcay Client Support (Pty) Ltd has been appointed as company secretary with
immediate effect.
Renewal of Cautionary Announcement
Shareholders are advised that this is the first step in a change in control
and to the acquisition of assets, which will result in a reverse listing,
details of which will be announced in due course. Accordingly, shareholders
are advised to continue exercising caution when dealing with the company`s
securities until a full announcement has been made.
Johannesburg
16 February 2007
Sponsor
Arcay Moela Sponsors (Pty) Ltd
Date: 16/02/2007 16:43:01 Produced by the JSE SENS Department.
