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SKJ - Sekunjalo Investments Ltd - Streamlines board, makes key appointments Sekunjalo Investments Ltd Share code: SKJ ISIN: ZAE000017893 Sekunjalo streamlines board, makes key appointments JSE-listed Sekunjalo Investments Limited concluded its annual general meeting today by streamlining its board, passing two ordinary and one special resolution and approving key appointments. Mohammed (Mo) Kajee, who returned to the company as Chief Operating Officer in 2006 after a stint as managing director at Irvin & Johnson Limited, has been promoted to the post of Group Chief Financial Officer and was reappointed as an executive director of the company. Hishaam Ally, has resigned from the Sekunjalo Investments Limited main board and will be taking a position as finance director of subsidiary Sekunjalo Capital. Salim Young and Mihe Goamab were reappointed to the main board as non-executive directors. Young holds directorships at British America Tobacco and Mallinicks Inc and sits on the regional board of ABSA Bank in the Western Cape. Goamab holds a number of directorships in Namibia, including as Executive Chairman of Falcon Resources Holdings, and Chairman of Namibia Atlantic Fishing Corporation. Ouma Ramathlodi, former Executive Director of Enterprise Development, has for personal reasons, tendered her resignation from the Sekunjalo board. At executive level Sekunjalo founder Dr Iqbal Surve has received an extension from the JSE to remain as Executive Chairman until June, and to hold the post of Chief Executive Officer and Norman Noland continues as Deputy Chief Executive Officer. Norman Noland presented a strategic update to shareholders, which demonstrated consistent growth in revenue and operating profit during the last two years, due to the Group`s diversification strategy into technology and innovation driven investments such as ICT and Financial Services. Dr Surve said; "Sekunjalo is going through an extremely exciting time in its history, a time that combines a drive to consolidate and enhance the value of our investments, with the need to show the market we are capable of unlocking significant value in the short to medium term. "The streamlined board combines strong, high-level non-executive input with a core team of dedicated executive directors, all of whom are deeply committed to achieving the company`s stated strategy of growing and unlocking value," he said. "The approval of the ordinary and special resolutions with close on 100% support was welcomed as it gives us the ability to make sure the company`s share capitalisation is always optimally balanced to meet the requirements of the company and to take advantage of our operating environment," Dr Surve said. Date: 28 February 2007 ENDS Prepared by: Bruce Hetherington Beachhead Media & Investor Relations 082 458 2199 Contact details: Zenariah Barends Sekunjalo Investments Ltd 082 441 0433 Date: 28/02/2007 14:07:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
