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Change in function of directors
ALTVEST CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2021/540736/06)
LEI Number: 37898OOE85B7YW5EEW57
Ordinary Share Code: ALV ISIN: ZAE000337051
Preferred A Ordinary Share Code: ALVA ISIN: ZAE000338422
Preferred B Ordinary Share Code: ALVB ISIN: ZAE000338430
Preferred C Ordinary Share Code: ALVC ISIN: ZAE000338448
("Altvest" or "the Company")
CHANGE IN FUNCTION OF DIRECTORS
Shareholders are referred to the announcement released on SENS on 8 September 2025 regarding the Company's
adoption of a Bitcoin Treasury Strategy. The adoption of its Bitcoin Treasury Strategy will demand specialist
executive attention. Accordingly, the Board has appointed Mr Stafford Masie, the Company's current Independent
Non-executive Chairman, as Executive Chairman. His role will be to drive the execution of the Bitcoin Treasury
Strategy, focusing on strategic direction, mentorship and the fostering of external relations, particularly with major
investors and regulatory bodies, allowing Mr Warren Wheatley, the Chief Executive Officer, to focus on the day-to-
day management of the Company's business activities.
Mr Masie has over 30 years' experience in the Information Technology industry, having held influential roles in
prominent companies such as Telkom, Dimension Data, Novell and Google. He has served as an independent
non-executive board member of Discovery Bank and Discovery Bank Holdings, ADvTECH Group, chair of the
Wits/Telkom Innovation Centre, as well as the CSIR. He has also invested in and launched several leading edge
global technology (fintech, artificial intelligence, and crypto) startups. He worked for Google establishing their initial
South African presence as Country Manager for Google South Africa. Before Google he was Managing Directory
of Novell Sub-Saharan Africa and also spent more than 6 years in the USA at Novell's Corporate HQ in Utah as a
Corporate Global Technology Strategist overseeing their Rocky Mountain States, Latin America and the Middle
East territories. He is an avid Bitcoin "maximalist" and is considered a c-suite crypto thought leader who also
independently advises South African regulatory bodies regarding crypto. Mr Masie has been instrumental in guiding
the initial exploration of the Bitcoin Treasury Strategy. His passion for Bitcoin and fintech experience make him
well-suited to help lead Altvest's evolution in this regard.
Pursuant to the appointment of Mr Masie in an executive role, Norma Sephuma has been appointed as Lead
Independent Director. Ms Sephuma has served on the Altvest Board since 1 March 2025 as an independent non-
executive director.
Johannesburg
10 September 2025
Designated Advisor
Questco Corporate Advisory
Date: 10-09-2025 03:00:00
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