IFC - IFCA Technologies Limited - Results of Annual General Meeting and

IFC - IFCA Technologies Limited - Results of Annual General Meeting and         
change to the Board of Directors                                                
IFCA TECHNOLOGIES LIMITED                                                       
Incorporated in the Republic of South Africa                                    
(Registration number 2006/030759/06)                                            
Share code: IFC     ISIN: ZAE000088555                                          
("IFCA" or "the Company")                                                       
RESULTS OF ANNUAL GENERAL MEETING AND CHANGE TO THE BOARD OF                    
DIRECTORS                                                                       
Shareholders are advised that, at the time of posting the notice of             
annual general meeting ("AGM") ("notice") on 29 June 2011, which notice         
was incorporated in the annual report for the year ended 31 December            
2010, Messrs AM Barnard and ZJ van Niekerk held the positions of                
executive director and Chief Executive Officer, and non-executive               
director of the Company, respectively. Subsequently, on 15 July 2011            
shareholders were advised by way of `Change in function of Directors`           
announcement released on SENS, that Mr ZJ Niekerk had been appointed as         
an executive director and Chief Executive Officer of the Company,               
replacing Mr AM Barnard who however, retained an executive function.            
Shareholders are advised that, at the AGM of IFCA held on 21 July 2011,         
all the resolutions as set out in the notice were passed by the requisite       
majority of shareholders, with the exception of ordinary resolution             
number 2, "director appointment - AM Barnard - Chief Executive Officer",        
and ordinary resolution number 4, "director appointment - ZJ van Niekerk        
-  Non-Executive", which were withdrawn at the AGM in order to ensure           
that shareholders who may have voted on such resolutions prior to the           
`Change in function of Directors` announcement were not prejudiced in any       
way whatsoever.                                                                 
Furthermore, in compliance with paragraph 3.59 of the Listings                  
Requirements of JSE Limited, the board of directors of IFCA hereby              
notifies its shareholders that Mr AM Barnard has resigned as a director         
of the Company with effect from 20 July 2011.                                   
Shareholders will be kept informed of the date of the general meeting at        
which the resolution to appoint Mr ZJ van Niekerk as an executive               
director and Chief Executive Officer will be proposed.                          
The special resolutions will be submitted for registration at the               
Companies and Intellectual Property Commission in due course.                   
Johannesburg                                                                    
22 July 2011                                                                    
Designated Adviser                                                              
Merchantec Capital                                                              
Date: 22/07/2011 10:33:02 Supplied by www.sharenet.co.za                     
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