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ROLFES HOLDINGS LIMITED - Change in the function of a director and changes to the board of directors

Release Date: 30/11/2015 13:49:00      Code(s): RLF     
Incorporated in the Republic of South Africa
Registration number 2000/002715/06
Share Code: RLF & ISIN: ZAE000159836
("Rolfes" or "the Company")


As a result of recent changes in the shareholder structure of the Company and in accordance with
paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised of the
following changes to the Board with immediate effect:

Erhard van Der Merwe, currently Executive Director: Corporate Finance and Special Projects will
fulfil his role going forward as a non-executive non-independent director under the terms of a
consultancy agreement with the Company.

Mr Jarred Winer has been appointed as a non-executive director to the Board. Mr Winer is the
Chief Executive Officer and co- founder of Westbrooke Capital Management (Pty) Ltd. He holds a B
Com Honours in Investment Management and a MDP. Prior to Westbrooke Capital Management,
he played various investment banking roles at Barclays and Absa Capital including corporate
finance, financial sponsor coverage, and leveraged finance. He gained extensive experience on
several international and local capital raisings, leverage buyouts, restructurings, mergers and
acquisitions for leading financial sponsors, and corporates. He has been a non-executive director at
Amalgamated Electronics Corporation Limited since 18 March 2015.

Mr Siegfried Sergel has resigned as Financial Director and Mr Johan Ferreira has been appointed as
interim full-time Financial Director, with immediate effect. He is a qualified Chartered Accountant
and holds a Master?s in Business Administration. He served as Financial Controller of Optimum Coal,
during which time he was involved in various mining transactions including the Glencore acquisition
of Optimum. As part of Glencore he worked in the South African coal division as Finance Manager of
Xstrata operated coal mines post-merger including Group Financial Controller functions of Optimum
Coal. Prior to that he worked as Audit Manager at KPMG in the Energy and Natural Resources
Department involved in various mining engagements including the JSE listing of Optimum Coal. Most
recently Johan was involved in commodity trading finance in Switzerland.
Subsequent to the aforementioned changes, the Board is comprised of the following:

Executive Directors: Ms Lizette Lynch (Chief Executive Officer), Mr Johan Ferreira (Interim FD).

Non-executive Directors: Mr Bulelani Ngcuka (Chairman), Mr Mike Teke, Mr Erhard van der Merwe
and Mr Jarred Winer.

Independent Non-executives Directors: Ms Seapei Mafoyane, Mr Dinga Mncube, Dr Andile Dyasi,
and Ms Mathukana Mokoka.

30 November 2015

Sponsor: Grindrod Bank Limited

Date: 30/11/2015 01:49:00 Supplied by www.sharenet.co.za                     
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