Delta EMD Limited
(Incorporated in the Republic of South Africa)
Registration number 1919/006020/06
Share code: DTA
(?the Group? or "the company")
RESIGNATION OF CHIEF EXECUTIVE OFFICER
Shareholders are referred to the Group?s 2014 annual general meeting
held on 9 May 2014, at which shareholders voted in favour of a
resolution approving the board?s decision to discontinue the Group?s
business and realise value for the Group?s assets during 2014 and
2015. Following such approval the Group entered into agreements with
certain senior management regarding their employment through the
discontinuation of the Group?s business.
An agreement with Mr Praveen Baijnath provided for him to continue
his employment with the company through 30 March 2015. He has
subsequently agreed to remain in the Group?s employment through 14
May 2015, the date of the Group?s 2015 annual general meeting, at
which time he will resign as the Group?s Chief Executive Officer and
will stand for re-election as a non-executive director.
The Board wishes to thank Mr. Baijnath for his several years of
service as Chief Executive Officer and for undertaking the
considerable efforts necessary to discontinue the Group?s business
and realise good value for the Group?s assets.
11 March 2015
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 11/03/2015 07:30:00 Supplied by www.sharenet.co.za
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