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MML - Metmar Limited - Changes to board of directors

Release Date: 26/09/2011 11:00
Code(s): MML
Wrap Text

MML - Metmar Limited - Changes to board of directors METMAR LIMITED Incorporated in the Republic of South Africa (Registration number 1998/007269/06) Share code: MML ISIN code: ZAE000078747 ("Metmar" or "the Company") CHANGES TO BOARD OF DIRECTORS In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised of the following changes to its board of directors ("Board") in terms of its corporate reorganisation which took effect on 1 March 2011: - Mrs Molleen de Wet will stand down as CFO of the Company on 1 October 2011 and focus on her responsibility as CFO of Metmar Trading (Pty) Limited, which is the foundation of the Group`s activities and has shown extensive growth since the listing of Metmar in 2006. The Board extends its heartfelt gratitude to Mrs de Wet for the critical role she has played in Metmar`s growth to date and looks forward to her continued contribution to the Company in the future. - Mr Glen Forsdyke will retire from Metmar and step down from the board with effect from 31 October 2011. Having sold SNF International to the Company in 1999, he joined Metmar and was instrumental in building a highly successful plastics and polymer trading division within the Company. A seamless succession has been ensured as these operations have been consolidated into Metmar Polychem. This division has been under the leadership of Brent Hean since 1 March 2011. The board thanks Mr Forsdyke for his significant contribution to the growth of Metmar, and specifically the polymer and plastics division and wishes him well in the future. - Mr Sizwe Nkosi has been appointed as the new CFO of Metmar with effect from 1 October 2011. Mr Nkosi is a CA (SA) and holds an MBA. He has in excess of 15 years` experience including financial management and commodity marketing in resources and financial services companies in South Africa. He joins the Company from Sekoko Coal/Firestone Energy where as Vice President he was responsible for downstream projects and commodities marketing. In addition to his responsibility as CFO of the Company, Mr Nkosi will fulfill the duties of CFO for Metmar Investments and Resources. - Mrs Dawn Earp has been appointed as an independent non-executive director of the Company and a member of its audit and risk committee with effect from 1 October 2011. Mrs Earp is a CA (SA) and has held executive finance positions in several Anglo American companies over an 18 year period before joining Implats as Director of Finance in 2007. Mrs Earp is currently the Financial Director of Rand Refinery and is a non-executive director of Teba. The Board welcomes Mr Nkosi and Mrs Earp and looks forward to a long and productive engagement with them. Bryanston 26 September 2011 Sponsor One Capital Date: 26/09/2011 11:00:01 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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