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ACSA Changes to the Board - BIACSA
Airports Company South Africa SOC Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/004149/30)
AIR01 ZAG000038084
AIR02 ZAG000052838
AIR04 ZAG000116369
AIR05 ZAG000116351
AIRL01 ZAG000052846
(“ACSA”) or (“the Company”)
Board Changes
Noteholders are advised that ACSA confirms the resignations of two
non-executive directors, Mr S Simelane and Mr S Mabela. The
resignations were tendered to the majority shareholder, the
Department of Transport, which appoints directors.
The remaining non-executive directors are Deon Botha (acting
Chairman) and Kate Matlou, with Bongani Maseko as the executive
director. The Board thus consists of 3 (three) Directors, of which
the majority are non-executive directors. The acting CFO, Dirk Kunz
is not a duly appointed member of the board.
Noteholders are also assured that this matter is receiving urgent
attention at the highest levels of the shareholder in terms of
appointing new non-executive directors, as such the Minister will
make an announcement in this regard.
Lastly, the overall governance processes of ACSA are intact and
functioning as intended. In addition, the day-to-day operations of
the Company continue as normal under the direction of the directors.
Johannesburg
24 April 2018
Kea.Sape@standardbank.co.za
Debt Sponsor
The Standard Bank of South Africa Limited
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