FWD - Freeworld Coatings Limited - Retirement of Mr Lamprecht as Chief Executive

FWD - Freeworld Coatings Limited - Retirement of Mr Lamprecht as Chief Executive
Officer ("CEO") and appointment of New Ceo                                      
FREEWORLD COATINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 2007/021624/06)                                            
Share code: FWD                                                                 
ISIN: ZAE000109450                                                              
("Freeworld" or "the Company")                                                  
RETIREMENT OF MR LAMPRECHT AS CHIEF EXECUTIVE OFFICER ("CEO") AND APPOINTMENT OF
NEW CEO                                                                         
In compliance with the JSE Limited Listings Requirements, the following         
information is disclosed:                                                       
Mr Andre Lamprecht has announced his retirement as CEO from Freeworld with      
effect from 3 June 2011.  Mr Lamprecht has accordingly resigned as a director of
the Company and its associated boards with immediate effect.  During a          
distinguished career spanning some 30 years, he served in various operational   
roles and as CEO, executive director and non-executive director on many boards. 
Following the retirement of Mr Lamprecht, the Freeworld board has appointed Mr  
Nauman Malik as CEO of the Company with effect from 3 June 2011.  Mr Malik is   
currently Head of Corporate Strategy for Kansai Paint, Co. Ltd. ("Kansai") and a
non-executive director on the Freeworld board of directors.  Following his      
appointment as CEO of the Company, Mr Malik will become an executive director on
the board.                                                                      
Commenting on this announcement, Chairman of Freeworld and Senior Managing      
Director of Kansai, Mr Ishino has indicated, "The board is delighted to announce
the appointment of Mr Malik as CEO, and has full confidence in his ability to   
lead Freeworld through its next stage of development, and to bring together the 
core strengths of Kansai and Freeworld in South Africa."                        
Mr Malik commented: "I am pleased to have been given the opportunity to lead    
Freeworld, and look forward to engaging more widely with Freeworld`s management,
employees and other stakeholders over the next few weeks.  I also wish to       
reaffirm Kansai`s desire to build on the strengths of Freeworld and the         
commitment and quality of its people.  In taking over from Mr Lamprecht, I would
like to thank him for his contribution to Freeworld and wish him well for the   
future."                                                                        
Paulshof                                                                        
2 June 2011                                                                     
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 02/06/2011 17:50:01 Supplied by www.sharenet.co.za                     
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