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MCU - m Cubed Holdings Limited - Changes to the board of directors

Release Date: 20/01/2011 17:34
Code(s): MCU
Wrap Text

MCU - m Cubed Holdings Limited - Changes to the board of directors m Cubed Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/014568/06) Share code: MCU ISIN: ZAE000033353 ("m Cubed" or "the Company") CHANGES TO THE BOARD OF DIRECTORS In accordance with rule 3.59 of the Listings Requirements of the JSE Limited ("JSE"), shareholders are hereby advised of the following changes to the board of directors of the Company: Following a change in major shareholder, the following directors were recommended and appointed to the board with immediate effect: Mr. Quinton George, Mr. James Fitzpatrick and Mr. Stephen Black. Mr. Chris Otto, non-executive chairman, has resigned from the board with immediate effect and Mr. Murray Louw, lead independent director, has taken over the role of non-executive chairman of the board. A notice will be sent to shareholders in due course calling a general meeting to vote on the new members of the board. Shareholders are further advised that the Company has applied for the re- instatement of its listing on the JSE, but that same was declined by the JSE due to the fact that the Company has no continuing operations. A further announcement will be made in due course setting out the strategy of the Company going forward. Background of new directors: Quinton George ("Quinton") Quinton is a registered financial advisor with the Financial Services Board ("FSB") in South Africa. He began his career in financial services when he joined PG Portfolios (Pty) Limited, members of the South African Bond Market Association. Thereafter, Quinton joined a South African Corporate member of the Johannesburg Stock Exchange (JSE). Here he worked as portfolio manager and developed a substantial private client base. Later, he joined Anglorand Securities and initiated their online broking service with Sharenet. He played a significant role in building the online business of the company. On 1 September 2000, Quinton launched Trinity Holdings (Pty) Limited, an investment management company registered with the FSB. Currently, Quinton is the CEO of Trinity Asset Management. Stephen Black ("Stephen") Stephen completed his B.Comm degree at the University of Natal, Pietermaritzburg. He has 8 years UK work experience. His first position was with Barclay`s Bank in Jersey, Channel Islands. He then worked in London for some of the major banking and insurance institutions - Deutsche Bank, Abbey National Bank and Equitas. Currently he is the FD of the listed company White Water Resources and is also running his own accounting consultancy firm, with offices in Cape Town. James Fitzpatrick ("James") James is Key Individual and Portfolio Manager for Trinity Asset Management ("TAM"). TAM is a Cape Town based investment house that is registered with the FSB. TAM is one of South Africa`s leading investment companies specialising in resources and niche special opportunities. TAM clients range from pension funds to high net worth individuals. James graduated from the University of Cape Town and was awarded a Bachelor of Commerce in 2001 and has successfully completed level 1 of CFA. Cape Town 20 January 2011 Sponsor: PSG Capital Date: 20/01/2011 17:34:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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