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ALT - Allied Technologies Limited - Directorate changes with effect from 20 July
2011
Allied Technologies Limited
(Incorporated in the Republic of South Africa)
Registration number: 1946/020415/06
Share code: ALT
ISIN: ZAE000015251
DIRECTORATE CHANGES WITH EFFECT FROM 20 JULY 2011
JSE-listed Allied Technologies Limited (Altech) is pleased to announce the
appointment of Mr. ML (Moss) Leoka as Chairman of the Board. Mr. Leoka, a
Director since 1998, will replace Dr. Hilton Davies, who has resigned as
Chairman of the Board, with effect from 20 July 2011.
Mr. Leoka is a respected business leader with extensive executive management
experience at some of South Africa`s leading corporations, including Tiger Oats,
JSE Securities Exchange, Standard Bank Investment Corporation, KPMG and Alliance
Capital.
He is currently Executive Director of Harrison and White Investments (Pty) Ltd,
a diversified South African industrial group and a director of the following
companies: Allied Technologies Limited (Altech), Moya Eco-Power (Pty) Ltd,
Breeze Power (Pty) Ltd, Superlift (Pty) Ltd, and Sectional Poles (Pty) Ltd.
(The last four being subsidiaries of Harrison and White).
He has served on the boards of ABSA Bank (S. Tvl.), Airports Company SA,
Cadbury, CNA Gallo, African Merchant Bank, Small Business Development Corp.,
National Sorghum Breweries, Gerling General Insurance, The Southern Africa Fund
Inc. (New York) and Alliance Capital.
He is a past president of the Johannesburg Chamber of Commerce & Industry and a
past Vice President of the South African Chamber of Business (SACOB) and he
chaired the business committee of the United States - South Africa Bi-National
Commission.
He holds a B.A. (Economics) degree from the University of The North and diplomas
in finance, marketing and business management.
Commenting on the appointment, Altech CEO, Craig Venter, had the following to
say: "On behalf of our board, shareholders, management and staff, we welcome the
appointment of Moss as Chairman of the Board. The Board and I look forward to
working closely with Moss as Altech focuses its strategy on profitable growth
opportunities in the global Telecommunications, Multi-media and Information
Technology sectors."
Mr. Leoka had the following to say about his appointment: "I am honoured and
excited about my new role. Altech is one of the leading ICT companies in South
Africa and I look forward to working with the Board and management to guide the
company into the next phase of commercial success, with a keen focus on
increasing shareholder value and profitable growth opportunities in the global
Telecommunications, Multi-media and Information Technology sectors."
Dr. Hilton Davies, outgoing Chairman, had the following to say: "It is with no
small degree of sadness that I thank my colleagues on the Board, management and
the broader Altech family for all their support over the last 15 years. It has
been a very interesting journey of growth from a small local business to a large
global one and I have been honored to be a part of the team that grew Altech
from a concept born in the early eighties to where it is today, a company poised
for commercial growth. I firmly believe that Moss`s background will bring the
required corporate experience needed for Altech to execute on its business
strategy."
Venter had the following to say about Dr. Davies: "Dr. Davies has been an
integral part of our growth. The 48 years he spent in the De Beers and Anglo
American Groups, as well as his time as chairman of Waco International, enabled
him to provide Altech with the guidance and wisdom that has seen the company
show exponential growth since the time he joined the Board in 1996. We thank him
for his leadership and are grateful to him for his many contributions to Altech
as Chairman and wish him well for the future."
Altech is also pleased to announce the appointment of three new non-executive
directors to the Altech Board with effect from 20 July 2011. These are Mr. AD
(Tony) Dixon, Mr. RS (Ronnie) Ntuli, who are classified as independent non-
exeutive directors in terms of King III and Dr. HA (Harold) Serebro.
Mr. Dixon has also been appointed to the Altech Audit Committee, while Dr.
Serebro has been appointed to the Altech Remuneration and Nomination Committee.
Furthermore, Mr. PMO (Peter) Curle`s position on the Altech Board has changed
from executive director to non-executive director.
20 July 2011
Sponsor INVESTEC Bank Limited
Date: 20/07/2011 16:30:01 Supplied by www.sharenet.co.za
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