AFRICAN BANK INVESTMENTS LIMITED - Appointment of Brian Riley as Chief Executive Officer Designate for Good Bank

Appointment of Brian Riley as Chief Executive Officer Designate for Good Bank

AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP) (ISIN: ZAE000065215)
(“ABIL” or “the group”)

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank” or “the Bank”)
 
Appointment of Brian Riley as Chief Executive Officer Designate for Good Bank 

1. Stakeholders are referred to the statement regarding the Curatorship of African Bank ("the
   Curatorship") that was made by the then Governor of the South African Reserve Bank ("SARB"),
   Ms. Gill Marcus, on 10 August 2014 ("the SARB statement") and to the Stock Exchange News
   Service ("SENS") announcements released by ABIL and African Bank on 26 September 2014, 10
   December 2014, 3 March 2015 and on 31 March 2015 ("the Restructuring SENS
   Announcements").

2. The SARB statement noted that Mr. Tom Winterboer was appointed as Curator of African Bank
   ("the Curator") in terms of the Banks Act No. 94 of 1990 (as amended) on 10 August 2014. At the
   same time the SARB statement set out proposals for a restructuring of African Bank ("the
   Restructuring Proposal").

3. The SARB statement and the Restructuring SENS Announcements detailed the proposed
   structure including the implementation of the Good Bank Restructuring Proposal.
4. The Curator is pleased to announce the appointment of Brian Riley (57) to the position of CEO
   designate of Good Bank and its new Holding Company (“New HoldCo”) with immediate effect,
   subject to the standard processes and approvals by the Office of the Registrar of Banks.
5. Brian’s employment contract is with African Bank and will be novated to Good Bank at the
   appropriate time, along with other employees of African Bank. His initial focus will be on the
   development of the financial, operational and brand strategy for Good Bank.
6. The Curators responsibilities in respect of the existing African Bank remain unchanged, and
   include:
    a. To stabilise the operations of the Bank and seek to preserve its operations during
       curatorship; and
    b. To bring forward a restructuring proposal for the effective resolution for the Bank and its
       business.
7. The Curator has applied for a banking licence for Good Bank, and will apply for the appropriate
   approvals for New HoldCo and any other companies required to give effect to the Restructuring
   Proposal.
8. Brian retired in December 2013 after serving for seven years as CEO of Wesbank, a division of
   the FirstRand Bank Limited. He was seconded to Wesbank South Africa from the UK in 1988. As
   CEO of Wesbank, he oversaw a successful growth period. During this time he was also an
   executive member of a five person First Rand Bank Limited strategic committee, responsible for
   the formulation and execution of the First Rand Bank Limited strategy.
9. Prior to his time at Wesbank, Brian undertook various roles in the UK, including positions held at
   Lloyds and Scottish Finance Group, the Provident Financial Group and Clerical Medical and
   General Assurance Company.
10.Brian holds an Advanced Executive Programme diploma from the University of South Africa, and
   completed an Advanced Management Programme at Harvard Business School, USA in 2004.

Curator, Tom Winterboer noted: “We are thrilled that Brian has accepted this position. He joins
recently appointed chairman designate, Louis von Zeuner as the second designate appointment to
Good Bank, which will assist me to focus on my curatorship duties, knowing that an important stream
of work is being undertaken in preparation for the successful formation of Good Bank”.

Commenting on his appointment, Riley noted: “My first challenge will be to mobilise the Bank’s
existing resource base into a defined strategy that can sustain Good Bank over the short to medium
future. I am eager to get to grips with the Bank on an operational, financial and brand perspective and
intend to define a clearer path forward in due course”.

On behalf of the Curator of African Bank

Midrand

5 May 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Footnote : T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by the
Minister of Finance of the Republic of South Africa and pursuant to the Banks Act No. 94 of 1990 (as
amended) to manage the affairs of African Bank Limited subject to the supervision of the Registrar of
Banks. Please note that Mr Winterboer acts in the aforesaid capacity.

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