In compliance with the JSE Limited Listings Requirements, the following information is disclosed:
*Mr Paul Smith has been appointed an executive director of the company and as executive chairman of the board of directors.
*Mr Kevin Wakeford, current chairman of the board of directors, will step down as chairman of the board however will continue in his role as an independent non-executive director of the company.
*Mr Gareth Rees, currently an independent non-executive director of the company, will assume the role of lead independent director.
*Mr Daniel Watson, chief financial officer and financial director of the company, will also be acting as chief executive officer until such time as an appropriate candidate for appointment as chief executive officer has been identified.
The board and management of the company are considering multiple opportunities in the Mining Services, Mining Supplies and Industrial sectors. These changes to the board and the executive team are to give impetus to realizing these opportunities.
All of these changes are effective from 8 August 2012.