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AET - Alert Steel Holdings Limited - Changes to the board of directors

Release Date: 21/09/2011 15:20
Code(s): AET
Wrap Text

AET - Alert Steel Holdings Limited - Changes to the board of directors and appointment of new designated advisor ALERT STEEL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2003/005144/06) JSE code: AET ISIN: ZAE000092847 ("Alert Steel" or "the company") CHANGES TO THE BOARD OF DIRECTORS AND APPOINTMENT OF NEW DESIGNATED ADVISOR In compliance with paragraph 3.59(b) of the JSE Limited Listings Requirements, shareholders are advised three non-executive directors have been appointed to the Alert Steel board of directors with effect from 1 October 2011. They are Gwen Mahuma, Mitesh Patel and Wessel van der Merwe. Ms Mahuma is currently group executive director of Capital Africa Steel (Pty) Ltd, an investment vehicle with interests in the steel and concrete sector. Prior to that, she was the managing director of DSI-Mandirk, a supplier of roof bolts to the mining industry. Ms Mahuma has a BCom degree with majors in economics and business management as well as a BCom Honours degree from the University of the North West. Her current directorships include Mahuma Investment Holding (Pty) Ltd, Capital Africa Steel (Pty) Ltd, CAS Enviro (Pty) Ltd, Krost Shelving (Pty) Ltd, 3Q Mahuma Concrete Joint Venture (Pty) Ltd and Reyajala Womens Consortium (Pty) Ltd. Mr Patel is currently the managing partner and chairperson of the national directorate of Nkonki Incorporated, a firm of chartered accountants registered with the Independent Regulatory Board for Auditors. His directorships include African Brick Centre Ltd, PSV Holding Ltd, Stratcorp Empowerment Investmets, Stratcorp Ltd and Wearne Ltd. He is also the chairperson of Africa Cellular Towers Ltd. He holds a Bcompt Honours degree from the University of South Africa and is a chartered accountant. Mr van der Merwe has been involved with Alert since its initial listing and will bring a wealth of experience and knowledge to the Board. He holds a B.Com Honours degree in Accounting from the University of Johannesburg (previously known as RAU)and is a chartered accountant. He has served as a member of the AltX Advisory Committee since 2007 previously headed a corporate advisory business for more than 14 years. His directorships include Skinwell Holdings Ltd and Taste Holdings Ltd. QuestCo Sponsors (Pty) Ltd has been appointed as the company`s designated advisors following Vunani Corporate Finance agreement with the company, to resign as designated advisor to Alert Steel with effect from 21 September 2011. 21 September 2011 Designated Adviser Vunani Corporate Finance Date: 21/09/2011 15:20:01 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.

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