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Changes to the board of directors, committees, and lead independent director
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
JSE and A2X share code: LHC
(“Life Healthcare” or “the Company” or “the Group”)
LIFE HEALTHCARE FUNDING LIMITED
(Incorporated in the Republic of South Africa with limited liability)
(Registration number 2016/273566/06)
Bond company code: LHFI
(“Life Healthcare Funding”)
CHANGES TO THE BOARD OF DIRECTORS, COMMITTEES, AND LEAD INDEPENDENT
DIRECTOR
Board Appointments
In keeping with the Board’s succession plan and strategy, the Company is pleased to
announce the appointments of Mr Paul Moeketsi and Mr Fulvio Tonelli as independent non-
executive directors of the Board, with effect from 23 February 2023 and 1 April 2023
respectively.
Paul is a qualified chartered accountant with over fifteen years of direct South African private
equity experience. He is currently the Managing Partner of Sanlam Private Equity, a fund that
manages over R4 billion in private equity assets. His earlier experience include being a partner
at Medu Capital where, in addition to his firm-wide responsibilities over nine years, he led and
managed a number of high-profile mid-market investment initiatives. Paul was also an
investment director at Value Capital Partners, a pioneer in bringing value-creation strategies
to the investment process in the South African listed market. During this time, he led
investments into Sun International, Metair and Grand Parade Investments.
Fulvio was, until the end of June 2019, the Chief Operating Officer and Partner at PwC Africa
and a member of the firm's leadership team. In this role, he assisted in the delivery of the firm's
overall strategy and was also responsible for the effective operation of the firm's risk
management, finance, information technology and other internal services. His experience
includes being the audit partner on many listed entities such as South African Breweries Ltd,
Standard Bank Group Ltd, and the FirstRand Group Ltd. Fulvio joined PwC in July 1987
following completion of articles at Deloitte and retired from the firm in June 2020. Fulvio is
currently a non-executive director of the ABSA Group board, Equites Property Fund Limited,
and The Ethics Institute of South Africa. He is also the chairperson of the Independent
Regulatory Board for Auditors (IRBA).
Board Committee changes
With effect from the date of their appointments, Paul will serve on the Investment, Human
Resources & Remuneration and Risk, Compliance & IT Governance Committees and Fulvio
will serve on the Audit, Human Resources & Remuneration and Nominations & Governance
Committees of the Company.
The Chairman of the Board, Dr Victor Litlhakanyane says: “We are delighted to welcome two
exceptional new Board members of Paul and Fulvio’s stature to the Company, and look
forward to their contribution and perspectives, at both the Board and respective Committee
meetings. We wish them the very best in their new roles”.
Lead Independent Director
Peter Golesworthy will be stepping down as the Lead Independent Director of the Company
with effect from 23 February 2023 and Advocate Mahlape Sello will be appointed as the Lead
Independent Director for the Company, from this date.
Mahlape Sello is a practising Advocate and a member of the Johannesburg Society of
Advocates. She has been in practice since 2003. She is a panellist with the Arbitration
Foundation of Southern Africa and China-Africa Joint Arbitration Centre. Mahlape was
appointed a member of the South African Law Reform Commission in 2007, on which she
served until December 2011, and was then reappointed in August 2013 to 2016. She is a
board member of Tiger Brands Limited and the former chairperson of Murray & Roberts
Limited, having been appointed to the board in 2006 and to the chair in 2009. She is the former
chairperson of the Advertising Industry Tribunal Appeal Committee of the Advertising
Standards Authority of South Africa (appointed in 2012 - 2018).
The Chairman added: “The Board acknowledges the exceptional guidance and support that
has been provided by Peter Golesworthy as the Lead Independent Director and thanks him
for his invaluable contribution during his tenure. Mahlape Sello is a valued member of the
Board and her professionalism, expertise and candid contribution will hold her in exceptional
stead as she takes on the role of Lead Independent Director”.
Resignation from the Board
Dr Malefetsane Ngatane has resigned as an independent non-executive director of the Board,
with effect from 22 February 2023. Dr Ngatane has been with the Company prior to its listing
in 2010 and his clinical expertise and measured contribution has been of great value to the
Board. The Board wishes to thank Dr Ngatane for his dedicated service and outstanding
contribution to the Board during his tenure and wishes him the very best during his well-
deserved retirement.
The Chairman concludes: “We are very sad to see Dr Ngatane leave us but we are very
grateful for his leadership and guidance to date. As a Board, we have been very focused on
proper succession planning over the past few years and we are pleased to see our concerted
efforts continuing to bear fruit.”
Shareholders are further advised that in line with Board succession plans, Peter Golesworthy
and Garth Solomon will step down at the Company’s 2024 Annual General Meeting.
Enquiries:
Joshila Ranchhod – Group Company Secretary
E-mail: joshilar@life.co.za
23 February 2023
Dunkeld
Sponsor and Debt sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 23-02-2023 11:42:00
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