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IFC - IFCA Technologies Limited - Board Restructure IFCA TECHNOLOGIES LIMITED Incorporated in the Republic of South Africa) (Registration number 2006/030759/06) Share code: IFC ISIN: ZAE000088555 ("IFCA Tech" or "the company") BOARD RESTRUCTURE In compliance with section 3.59 of the Listings Requirements of the JSE Limited, the board of directors of IFCA is pleased to announce the appointment of Mr Colin Wayne Clarke as independent non-executive chairman with immediate effect. Ms Thoko Mokgosi-Mwantembe has resigned as a director pursuant to Kutana Investments Group Limited disposing of its entire shareholding in IFCA a separate announcement in this regard is to be made once a cash confirmation has been provided to the Securities Regulation Panel. Colin Wayne Clarke Mr Colin Wayne Clarke, an American lawyer having obtained a Bachelor of Political Science and Law Degree in the USA and completed an MBA at Oxford University in England, has more than 16 years work experience in more than 46 African countries, and is an Advocate in the High Court of South Africa. In the early 90`s Mr Clarke served as legal counsel in the BP Amoco acquisitions department, served as Deputy Director of Trade and Investment for The African American Institute, worked as project manager and head of operations at Lance Bailey & Associates in the USA and South Africa and served as legal counsel and partner with two southern African focused private equity funds, namely, Southern African Enterprise Development Fund (SAEDF) and the Sloan Financial Group`s (New Africa Opportunity Fund). From January 2009 to May 2010, Mr Clarke was Chief Operating Officer of the National Empowerment Fund ("NEF") where he was responsible for strategy and planning, asset management, marketing departments and group operations. In 2000, Mr Clarke and partners founded Kaga Partners (formerly CES Capital) specializing in advising and origination of transactions for clients in Africa. Currently Mr Clarke is a director of Kaga Partners and member of the investment committee for Sishen Iron Ore Company Community Development Trust. In addition, Mr Ian Jeremy Jones will be resigning as a director and Mr Anthony Mark Barnard has been appointed as acting Chief Executive Officer. Pursuant to the above changes, the IFCA board will comprise the following: Name Status Colin Wayne Clarke Independent Non-Executive Chairman Anthony Mark Barnard Acting Chief Executive Officer Mark Shaw Financial Director Mike Gahagan Independent Non-Executive Mark Palmer Independent Non-Executive Zacharias Johannes van Niekerk Non-Executive Kian Keong ("Jack") Yong Non-Executive Johannesburg 26 January 2011 Designated Advisor Arcay Moela Sponsors (Proprietary) Limited Date: 26/01/2011 17:22:01 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.
