MMG - MICROmega - Changes to the Board of Directors

MMG - MICROmega - Changes to the Board of Directors                             
MICROmega HOLDINGS LIMITED                                                      
(Registration number 1998/003821/06)                                            
(Incorporated in the Republic of South Africa)                                  
ISIN code: ZAE000034435        Share code: MMG                                  
("MICROmega" or "the Company")                                                  
CHANGES TO THE BOARD OF DIRECTORS                                               
MICROmega has appointed Mr Dave King as Executive Chairman of the Company, with 
immediate effect.                                                               
Mr Greg Morris, the outgoing Chairman stated; " It is well known that Dave King 
was the founder of the MICROmega Group and that he still retains a beneficial   
interest in the Company as a result of  a significant minority shareholding via 
an offshore trust that is managed by HSBC. It is also well known that Mr King   
has been engaged in litigation with the State for almost 10 years. While there  
have been numerous attempts to settle this litigation there is no real prospect 
of an imminent settlement that can meet the interests of all parties."          
Mr Morris continued; " Over the last couple of years Mr King has required less  
time to devote to his legal matters and MICROmega has been able to utilise his  
services on a consultancy basis to assist with new business opportunities that  
Mr King has identified for the Company. Mr King advised me last year that he    
would be in a position to devote his attention to normal business activities of 
the Company from January 2011 and after discussions with my fellow board members
I extended an invitation to him to rejoin the board of directors as Executive   
Chairman. This will provide me, as Group CEO, with more time to devote to       
growing the existing businesses and to take advantage of the strong platform    
that has been put in place over the last few years. Mr King will focus on new   
business opportunities as have been identified by him and Mr Duncan Carlisle    
will remain as Group Managing Director spending more of his time in growing our 
international businesses in South America and China."                           
Mr Morris concluded; "MICROmega now has a strong and effective executive team   
with a common culture and the addition of Mr King to this team positions the    
Company well for both organic and acquisitive growth."                          
17 January 2011                                                                 
By order of the board                                                           
MICROmega Holdings Limited                                                      
Sponsor                                                                         
Java Capital                                                                    
Date: 17/01/2011 16:39:04 Supplied by www.sharenet.co.za                     
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