AVIOR CAPITAL MARKETS HOLDINGS LIMITED - Change to the board of directors of Avior Holdings: Appointment of interim financial director

Change to the board of directors of Avior Holdings: Appointment of interim financial director

Avior Capital Markets Holdings Limited
(previously Jamispan Proprietary Limited)
Incorporated in the Republic of South Africa
Registration number: 2015/086358/06
JSE Code: AVR, ISIN: ZAE000211637
("Avior Holdings" or “the Company”)

CHANGE TO THE BOARD OF DIRECTORS OF AVIOR HOLDINGS: APPOINTMENT OF INTERIM
FINANCIAL DIRECTOR

1.      Shareholders are referred to the announcement published by the Company on the JSE
        Limited’s (“JSE”) Stock Exchange News Service (“SENS”) dated, 24 October 2017, in terms of
        which the Company advised of the resignation of Mr. Naeem Tilly (“Mr. Tilly”), the financial
        director of Avior Holdings, which resignation would become effective on 29 December 2017
        (“the Resignation SENS Announcement”).

2.      Shareholders were advised in the Resignation SENS Announcement that the Company would
        commence a recruitment process for purposes of finding a suitable candidate to appoint as the
        new financial director of Avior Holdings.

3.      Further to the publication of the Resignation SENS Announcement, shareholders are hereby
        advised that the Company has not yet finalised the aforementioned recruitment process,
        however, notwithstanding the above-mentioned, the board of directors of Avior Holdings
        (“Board”) has resolved to appoint Mr. Justin Larsen (“Mr. Larsen”) as the interim financial
        director of Avior Holdings, which interim appointment shall become effective from the 29
        December 2017, up to and until the 29 June 2018. Shareholders should note that, in
        accordance with paragraph 21.3(e) of the JSE Listings Requirements, the audit and risk
        committee of Avior Holdings has provided written confirmation to the JSE in regard to their
        satisfaction of the expertise and experience of Mr. Larsen.

4.      Summarised curriculum vitae of Mr. Larsen:

        Mr. Larsen is a chartered accountant and has a background in global markets, investment
        banking, and private equity. His experience was gained both in the UK and South Africa in
        finance transformation roles at several large global banks, which include UBS, Renaissance
        Capital, Standard Bank and RMB. Prior to joining Avior Holdings, Mr. Larsen was the Head of
        Strategy at KPMG, where he worked with several clients in the private equity industry and on
        several major blue-chip finance transformation programmes. He completed his articles at
        KPMG in 2008.

5.      Shareholders are hereby advised that, notwithstanding the interim appointment of Mr. Larsen,
        the process to recruit and appoint a permanent financial director is still ongoing.

6.      The Board welcomes the interim appointment of Mr Larsen and looks forward to his
        contributions to the Company as the interim financial director.

Johannesburg
15 December 2017
Designated Advisor
Pallidus Capital Proprietary Limited

Date: 15/12/2017 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.