WESCOAL HOLDINGS LIMITED - Appointment of Group Chief Executive Officer

Appointment of Group Chief Executive Officer

WESCOAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: WSL
ISIN: ZAE000069639
(“Wescoal” or the “Company” or the “Group”)

Appointment of Group Chief Executive Officer

Shareholders are referred to the SENS announcement dated 25 January 2021, informing shareholders that the
disinterested members of the Board (as dictated by the Company’s Memorandum of Incorporation) have
appointed Mr Robinson Ramaite, a non-executive director of the Company, as interim Group Chief Executive
Officer of the Company with effect from 15 March 2021.

Shareholders are advised that the disinterested members of the Board have appointed Mr Ramaite as Group
Chief Executive Officer with effect from 1 April 2022, for a period of 2 years. The appointment would allow for a
managed transition as Wescoal moves from a pure coal mining and trading company into a diversified investment
company, and it will also allow the Board to complete proper succession planning processes in relation to the
appointment of the future Group Chief Executive Officer. Mr Ramaite’s appointment will further ensure an
experienced hand at the helm to effectively execute the new strategic direction of the Company under the
proposed new name of “Salungano Group Limited”, as per the circular distributed to shareholders on 31 January
2022.


1 March 2022

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

IR Advisor
Singular IR

Date: 01-03-2022 10:00:00
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.