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MONTAUK HOLDINGS LIMITED - Resignation and appointment of director (chief executive officer)

Release Date: 27/05/2016 15:25:00      Code(s): MNK     
(Incorporated in the Republic of South Africa)
(Registration number: 2010/17811/06)
(Share code: MNK)
(ISIN: ZAE000197455)
(?Montauk? or ?the Company?)


Shareholders are advised that Mr David Herrman has resigned from his
position as Chief Executive Officer (?CEO?) and executive director of the
Company as of the 10th June 2016. Mr Herrman has indicated that he wishes
to pursue new opportunities outside of the Company, following which the
Board of Directors of the Company (?the Board?) accepted his resignation.
The Company wishes to thank Mr Herrman for his valued contribution to the
Company during his tenure as CEO, which included the listing of Montauk on
the JSE, and wishes him well in his future endeavours.

Mr Martin Ryan has been appointed by the Board as Chief Executive Officer
and executive director with immediate effect. Mr Herrman has made himself
available to assist with the transition of responsibilities to Mr Ryan.

Mr Ryan joined the Company as Vice President and General Counsel in 2007
and has held that position since. The Board congratulates Mr Ryan on his
new appointment and is confident that he has the appropriate expertise and
experience for his new role.

Cape Town
27 May 2016
Sponsor: Investec Bank Limited

Date: 27/05/2016 03:25:00 Supplied by www.sharenet.co.za                     
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