IQG - Iquad - Changes to the board of Directors

IQG - Iquad - Changes to the board of Directors                                 
IQuad Group Limited                                                             
Incorporated in the Republic of South Africa                                    
(Registration Number 2004/025177/06)                                            
Share Code: IQG   ISIN: ZAE000101622                                            
("IQuad" or "the Company")                                                      
CHANGES TO THE BOARD OF DIRECTORS                                               
In accordance with rule 3.59 of the Listings Requirements of the JSE Limited,   
shareholders are hereby advised of the following changes to the board of        
directors of IQuad, with effect from Tuesday, 12 April 2011:                    
Resignation:                                                                    
Mr. Zitulele (KK) Combi resigns as non-executive director.                      
The board wishes to thank Mr. Combi for his contributions during his tenure as a
director of the Company and wish him well with his future endeavours.           
Appointments:                                                                   
Mr. Nico de Waal ("Nico") appointed as a non-executive director.                
Nico holds a B.Eng (Mech) (Cum Laude) degree from the University of Stellenbosch
as well as an MBA from IESE Business School of the University of Navarre        
(Spain).  Nico started his career as an engineer with Baker Hughes Inc. (USA) in
Scotland and the Middle East in the oil and gas exploration industry (1998-     
2000). He then specialised in strategy and operations work as a management      
consultant at McKinsey & Co. (2001-2007) and also at SAB Miller (2008-2010). He 
recently transitioned to the Private Equity sector when he joined Paladin       
Capital Limited in 2011, a subsidiary of the PSG Group                          
Mr. Chris Elfick ("Chris") appointed as a non-executive director.               
Chris joined Coopers & Lybrand and qualified as a Chartered Accountant in 1989. 
He completed an MBL degree (Cum Laude) in 1994 and has been consulting and      
particularly providing strategic facilitation assistance for more than 20 years.
Until September 2002, Chris was a partner in PricewaterhouseCoopers Consulting  
where he led numerous strategic and business planning initiatives and was       
responsible for a number of divisions in the consulting group. In October 2002, 
Chris formed Learning Strategies to focus on strategic consulting and business  
development. Chris is also the founder of the Fido Investment Fund and together 
with two partners established the Lamda Financial Services group which includes 
fund administration, private equity and property development activities.        
Mr. Morne Edas ("Morne") appointed as a non-executive director.                 
Morne holds a B.Eng (Elec-Mech) degree, as well as an MBA, both from the        
University of Cape Town. He began his career with Eskom as a Nuclear Component  
Engineer at Koeberg Nuclear Power Station in Cape Town.  Here he gained         
experience in the nuclear engineering field through various engineering roles   
within the nuclear engineering operations and reliability business units.  He   
subsequently joined Cadiz Asset Management as an Equity Analyst where he was    
responsible for performing investment evaluations and recommendations across a  
number of sectors and industries during a three-year tenure.  Morne is at       
present an Executive Director at Thembeka Capital and serves as a non-executive 
director on the boards of various Thembeka Capital investee companies.  He is a 
CFA charterholder.                                                              
The board welcomes the appointment of Messrs de Waal, Elfick and Edas and looks 
forward to their positive contributions.                                        
14 April 2011                                                                   
Designated Advisor                                                              
QuestCo Sponsors (Pty) Limited                                                  
Corporate Adviser                                                               
PSG Capital (Pty) Limited                                                       
Date: 14/04/2011 13:21:01 Supplied by www.sharenet.co.za                     
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