Wrap Text
Restructure of the Board of Directors
PEMBURY LIFESTYLE GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 2013/205899/06)
Share code: PEM ISIN: ZAE000222949
(“Pembury” or “the Company”)
RESTRUCTURE OF THE BOARD OF DIRECTORS
Shareholders are referred to the announcement released on SENS on 30 July 2020 in
which shareholders were notified, inter alia, that Messrs Andrew McLachlan, the Chief
Executive Officer and Jason McLachlan, a non-executive director of the Company
would be stepping down from the board of directors of Pembury (“Board”) with effect
from 14 August 2020.
New appointments have been made in order to ensure that the Board and its
Committees are properly constituted.
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the Board
hereby notifies its shareholders of the following appointments:
Ms Michelle Krastanov
Michelle has been appointed as an independent non-executive director and
chairperson of the Board with effect from 14 August 2020.
Michelle is a qualified Chartered Accountant. After graduating from Wits University,
Michelle joined Price Waterhouse (now PWC) where she remained for seven years. In 1994,
she joined a new joint venture with FirstCorp Merchant Bank and, following FirstCorp’s
restructure in 1995, took over the business, providing corporate finance and listing services
to entrepreneurial businesses. In 2001, Michelle joined the Arcay group and started the
sponsor business within Arcay. Thereafter, she took over the company secretarial business.
In 2013, she was part of a team that bought out certain of the businesses and formed the
Arbor Capital group. In 2019, the sponsor and company secretarial business separated
from Arbor Capital.
Michelle now heads up AcaciaCap Advisors Proprietary Limited, a JSE Sponsor and
Designated Advisor and Light Consulting Proprietary Limited, a company secretarial
business that provides outsource services to listed and unlisted companies. She has
extensive experience in the listed environment, corporate governance and regulatory
requirements.
Ms Shelley Thomas
Shelley has been re-appointed as an independent non-executive director and
chairperson of the Audit and Risk Committee with effect from 14 August 2020.
Shelley is a qualified Chartered Accountant who completed her articles at Kessel Feinstein
(now Grant Thornton) in 1991. Shelley has sat on numerous boards and audit committees
of both private, public and listed companies.
She also serves on the EWSETA and Road Traffic Infringement Agency Audit and Risk
Committees and is chairperson of Indvest Group Proprietary Limited. She was previously
the divisional head of Forensic, Compliance, and Governance at Protect-A-Partner
International.
Shelley’s previous experience includes serving on the audit committees of, inter alia, The
Department of Environmental Affairs, The Department of Water Affairs, The National
Lotteries Board and the Road Accident Fund. Shelley also worked at Transnet for a period
of four years, gaining experience at Transnet, Spoornet and Portnet at the time.
Shelley was previously an independent non-executive director of Pembury and the
chairperson of the Audit and Risk Committee until her resignation earlier in the year. The
Board is delighted that Shelley has agreed to re-join the Board.
Ms Mumsy Mthembu
Mumsy has been appointed as a non-executive director with effect from 17 August 2020.
Mumsy obtained a B.Sc. in Chemistry and Applied Chemistry from the University of Natal in
1997, followed by a B.Sc. (Hons) in Water Utilisation from the University of Pretoria in 2003.
More recently, Mumsy has attained a Master’s in Business Management from MANCOSA.
Mumsy has worked for a number of years as a business consultant and project
management for Nhlohlorhi Xihlovo JM Holdings, MTM Energy, Eskom – Group Capital
Division and previously the Nuclear Division of Eskom. She has also worked at the
Department of Science and Technology as Manager (Hydrogen and Energy), at Pioneer
Hi Bred RSA as a laboratory manager and started her career at Rand Water as a process
scientist.
Mumsy has recently joined Lamba Corporation as Group CEO and as such, also serves on
the boards of Lamba Corporation subsidiaries such Verityhurst Proprietary Limited as Co-
Chairperson, Immense Ventures Proprietary Limited as Chairperson, Ivy Mavericks
Proprietary Limited as Chairperson and Mandla Lamba Foundation as Vice Chairperson.
Ms Nokuthula Mntungwa
Nokuthula has been appointed as an independent non-executive director with effect
from 17 August 2020, and will also be nominated to serve on the Audit and Risk
Committee.
Nokuthula holds an MBA and Honours Degree in Business Administration from Unisa and
completed a Project Management Diploma at the University of Pretoria. She also
obtained a Degree in Financial Accounting and Auditing and Certificate in Taxation from
Unisa, as well as Public Administration from the University of KZN.
She has held a number of roles as accountant, project manager and administration at
Rochcon, Xstrata Alloys, Kumba Resources (head office and Sishen Iron Ore), Samancor
and also spent 5 years at SARS.
Mr Bhekokuhle Sibiya (“Bheki”)
Bheki has been appointed as a non-executive director with effect from 17 August 2020,
having been nominated to the Board as a representative of BMFI earlier in the year.
Bheki holds an MBA from Western Michigan University after having obtained his initial
degree at the University of Zululand. He has had extensive leadership experience in both
the private and public sector. Among the companies and organisations he has headed
are the Wits Business School, Business Unity South Africa (BUSA) and Bhekokuhle Consulting.
He has also held senior management positions in Transnet, Tongaat-Hulett Sugar, the Black
Management Forum (BMF), and SA Breweries.
In 2004 he was the founding Chief Executive Officer of BUSA, where he regularly engaged
with ministers and key stakeholder clusters. Also, as a past president of the Black
Management Forum he lobbied the previous president of South Africa on Broad Based
Black Economic Empowerment (BBBEEE).
Whilst at BUSA and the BMF, Bheki contributed to King I, II, and III. Furthermore, his
involvement in BUSA, the BMF and Nedlac enabled him to develop significant networks
across government, business, and labour (including Solidarity, Cosatu and the NUM). In
government, he has a close relationship with the Director-General of the Department of
Mineral Resources and also with the acting chairperson of Eskom.
Welcome and Chief Executive Officer Appointment
The Board welcomes the new non-executive directors to the Board and trusts that they will
bring substantial corporate and governance experience to the Company to the benefit
of all stakeholders.
Shareholders are advised that the newly constituted Board will seek to identify a suitable
candidate to fulfil the role of the Chief Executive Officer. In the interim, the Financial
Director, Mr Jaco Labuschagne and Chief Operating Officer, Mr Sheldon Nielson, will
jointly cover this function with the assistance of the Board. Shareholders will be updated in
due course once a suitable candidate has been identified.
Johannesburg
17 August 2020
Designated Adviser
Merchantec Capital
Date: 17-08-2020 05:10:00
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