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SKJ
SKJ
SKJ - Sekunjalo Investments Ltd - Streamlines board, makes key appointments
Sekunjalo Investments Ltd
Share code: SKJ
ISIN: ZAE000017893
Sekunjalo streamlines board, makes key appointments
JSE-listed Sekunjalo Investments Limited concluded its annual general meeting
today by streamlining its board, passing two ordinary and one special resolution
and approving key appointments.
Mohammed (Mo) Kajee, who returned to the company as Chief Operating Officer in
2006 after a stint as managing director at Irvin & Johnson Limited, has been
promoted to the post of Group Chief Financial Officer and was reappointed as an
executive director of the company. Hishaam Ally, has resigned from the Sekunjalo
Investments Limited main board and will be taking a position as finance director
of subsidiary Sekunjalo Capital.
Salim Young and Mihe Goamab were reappointed to the main board as non-executive
directors. Young holds directorships at British America Tobacco and Mallinicks
Inc and sits on the regional board of ABSA Bank in the Western Cape. Goamab
holds a number of directorships in Namibia, including as Executive Chairman of
Falcon Resources Holdings, and Chairman of Namibia Atlantic Fishing Corporation.
Ouma Ramathlodi, former Executive Director of Enterprise Development, has for
personal reasons, tendered her resignation from the Sekunjalo board.
At executive level Sekunjalo founder Dr Iqbal Surve has received an extension
from the JSE to remain as Executive Chairman until June, and to hold the post of
Chief Executive Officer and Norman Noland continues as Deputy Chief Executive
Officer.
Norman Noland presented a strategic update to shareholders, which demonstrated
consistent growth in revenue and operating profit during the last two years, due
to the Group`s diversification strategy into technology and innovation driven
investments such as ICT and Financial Services.
Dr Surve said; "Sekunjalo is going through an extremely exciting time in its
history, a time that combines a drive to consolidate and enhance the value of
our investments, with the need to show the market we are capable of unlocking
significant value in the short to medium term.
"The streamlined board combines strong, high-level non-executive input with a
core team of dedicated executive directors, all of whom are deeply committed to
achieving the company`s stated strategy of growing and unlocking value," he
said.
"The approval of the ordinary and special resolutions with close on 100% support
was welcomed as it gives us the ability to make sure the company`s share
capitalisation is always optimally balanced to meet the requirements of the
company and to take advantage of our operating environment," Dr Surve said.
Date: 28 February 2007
ENDS
Prepared by: Bruce Hetherington
Beachhead Media & Investor Relations
082 458 2199
Contact details: Zenariah Barends
Sekunjalo Investments Ltd
082 441 0433
Date: 28/02/2007 14:07:01 Produced by the JSE SENS Department.
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