BANK WINDHOEK LIMITED - Dispensation granted on the appointment of a financial director

Dispensation granted on the appointment of a financial director

BANK WINDHOEK LIMITED
(Incorporated in the Republic of Namibia)
Stock Code: BWZJ23
ISIN Code: ZAG000155508

BANK WINDHOEK LIMITED
(Incorporated in the Republic of Namibia)
Stock Code: BWZJ24
ISIN Code: ZAG000175183

BANK WINDHOEK LIMITED
(Incorporated in the Republic of Namibia)
Stock Code: BWZJ25
ISIN Code: ZAG000182064

(“the Company”)

DISPENSATION GRANTED ON THE APPOINTMENT OF A FINANCIAL DIRECTOR

In terms of paragraph 7.3(d)(iii) of the JSE Debt Listings Requirements
(“Listings Requirements”), applicant issuers who are wholly-owned
subsidiaries of a company with a financial director (“FD”), and which
company irrevocably, and unconditionally guarantees the obligations of the
applicant issuer, are not required to have a FD.

Accordingly, in terms of paragraph 7.3(d)(iii), the Company, a wholly-owned
subsidiary of Capricorn Group Limited (“Capricorn”), a company listed on
the Namibian Stock Exchange, does not have an FD.

Shareholders of Capricorn were advised on 17 November 2021 and 27 June
2022, respectively, that (i) Capricorn’s FD Mr Johannes Jacobus Esterhuyse
resigned from his position as FD of Capricorn with effect from 28 February
2022; and (ii) Mr Johan Maass had been appointed as Capricorn’s group chief
financial officer (“CFO”) with effect from 1 July 2022 and the FD role
would not be filled at that point in time (“Role Change”).

The Role Change does not impact the Company’s finance function nor its
ability to meet its financial and reporting obligations as and when they
arise. Mr Zenaune Kamberipa, a chartered accountant by profession,
continues to serve as the Company’s CFO and is duly supported by a finance
manager and numerous other financial professionals. Furthermore, Ms
Baronice Hans, the managing director of the Company, is a chartered
accountant, and effectively fulfils the duties of both managing director
and FD of the Company. Accordingly, the combination of Mr Kamberipa and Ms
Hans’s expertise and skill ensures that the Company has a robust financial
reporting framework.

In light of the above, the Company approached the JSE for a dispensation
from compliance with paragraph 7.3(d)(i) and 7.3(e)(i) of the Listing
Requirements and the Company is pleased to announce that the JSE has granted
dispensation to the Company.

25 August 2022

Debt Sponsor
PSG Capital

Date: 25-08-2022 03:00:00
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