TORRE INDUSTRIES LIMITED - Changes to the board and committees

Changes to the board and committees

TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or “the Group”)


CHANGES TO THE BOARD AND COMMITTEES

In accordance and compliance with paragraph 3.59 of the JSE
Listings Requirements, Torre wishes to advise shareholders of
the following changes to the board and its committees which
are effective 13 May 2015:

1.1   Mrs Mary Sina Bomela CA(SA) MBA has been appointed as a
      non-executive director of Torre and as a member of the
      following committees: Nomination Committee, Remuneration
      Committee and Social, Ethics and Transformation
      Committee.

      Mary is the Chief Executive Officer of The Mineworkers
      Investment Company (“MIC”). She joined the MIC in 2010
      and previously served as a Non-Executive Director from
      March 2008 to 2010. Before joining the MIC, Mary was the
      Chief Financial Officer at Freight Dynamics. Prior to
      this, she was an executive in the Corporate Services
      division of the South African Institute of Chartered
      Accountants. Mary also held executive positions in the
      resources, media, utilities and financial services
      sectors. She serves on the boards of a number of other
      strategic investments of the MIC. These include: Primedia
      (Pty) Ltd, FirstRand Group Ltd, Metrofile Holdings Ltd
      and Peermont Global Holdings (Pty) Ltd.

1.2   Mr Nchaupe Khaole BCom (Hons) MBA has been appointed as a
      non-executive director of Torre and as a member of the
      following committees: Audit and Risk Committee,
      Remuneration Committee and Social, Ethics and
      Transformation Committee.

      Nchaupe is the Executive Director: Investments of MIC. He
      previously held the following positions: Senior
      Investment Officer for the Development Bank of Southern
      Africa, Private Equity and Corporate Finance Executive
      for Safika Holdings and Investment Consultant for the
      Liberty Group. Nchaupe serves on the boards of South
      Africa Mine Safety Appliances (Pty) Ltd, GE South Africa
      Technologies (Pty) Ltd and First National Bank.
1.3   Mr Oren Fuchs BA MSc has been appointed as an alternate
      director to Mrs Bomela and Mr Khaole.

      Oren is the Senior Special Projects and Investment
      Manager of MIC. He previously held the following
      positions: Corporate Strategy Manager for the SABC,
      General Manager of Finance and Viability for Blue IQ,
      Deputy Director for Economic Policy with the Department
      of Finance and Economic Affairs, Professional Planner
      with the Johannesburg Metropolitan Council and IT
      Administrator with Robin Lee Associates. Oren has serves
      on the boards of Westcon South Africa (Pty) Ltd, PureGas
      (Pty) Ltd, Much Asphalt (Pty) Ltd, Izazi Solutions (Pty)
      Ltd (alternate) and First Rand Empowerment Foundation
      (trustee).

1.4   The Directors welcome Mary, Nchaupe and Oren to the Board
      and look forward to the contributions that they will make
      to the Group.


Johannesburg
14 May 2015

Corporate Finance Adviser and Sponsor to Torre
AfrAsia Corporate Finance (Pty) Ltd

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