INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - CANCELLATION OF S430818 IDC-CFO Resignation

CANCELLATION OF S430818 IDC-CFO Resignation

INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (“IDC”)

REGISTRATION NUMBER: 1940/014201/06

Issuer Code: IN02

RESIGNATION OF THE CHIEF FINANCIAL OFFICER (CFO): MS. NONKULULEKO
DLAMINI



Noteholders are advised of the resignation of Ms. Nonkululeko Dlamini
as the Chief Financial Officer of the IDC. Nonkululeko will serve her
notice up to July 2020.

Nonkululeko joined the IDC in September 2015 and has had a successful
career at the IDC. She successfully led several fund-raising drives and
assisted the IDC to navigate some tough financial and economic
challenges. Nonkululeko is highly regarded by her peers and is held in
high esteem by funders, rating agencies, colleagues, shareholder
representatives and the Board. Under her leadership, the IDC
successfully migrated from IAS to the IFRS9 reporting standards.
The Corporation thanks Nonkululeko for her exceptional service and wish
her well in her future endeavours.

The process of appointing a new CFO is underway, which noteholders will
be updated on.

Sandton

Debt Sponsor: The Standard Bank of South Africa Limited

15 May 2020

Date: 18-05-2020 10:09:59
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