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UCS - UCS Group Limited - Appointment of group Chief Executive Officer

Release Date: 30/09/2011 13:17
Code(s): UCS
Wrap Text

UCS - UCS Group Limited - Appointment of group Chief Executive Officer UCS GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/002253/06) Share code: UCS ISIN: ZAE000016150 ("UCS" or "the Group") APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER ("CEO") UCS is pleased to announce the appointment of Dean Sparrow as Group CEO with effect 1 October 2011 whilst current CEO, John Bright, takes on a non- executive position on the board. A qualified Chartered Accountant, Dean Sparrow joined UCS from Deloitte & Touche in 2002. Shortly thereafter he was appointed Group Chief Financial Officer. In addition to his financial, reporting and governance responsibilities he managed the execution of several acquisitions and was directly involved in the restructuring of UCS` Software division. Dean assisted with the Group`s initial BEE transaction, which was concluded in 2007 and was instrumental in the setting up of the Group`s offshore structures, including an international acquisition. Appointed Deputy CEO in April 2009, Dean directed a number of UCS` key duties which incorporated Group-wide corporate activity. In this role he was responsible for overseeing the investments division within which the Value Added Services (VAS) businesses were established and grown, supporting the successful disposal of the Enterprise Solutions business to HCL Axon (Proprietary) Limited and driving the strategic exit from TSS Managed Services (Proprietary) Limited. Over the past year, Dean has played the lead role in the negotiation and execution of the disposal of five subsidiary companies that comprised the Group`s Retail IT Services businesses, to Business Connexion Group Limited. John Bright, outgoing CEO of UCS, said: "Dean has played a key role in UCS` growth and development over the past nine years including overseeing a broad range of M&A activities across the Group. "His extensive experience and intimate knowledge of the businesses is ideal to take the Group forward as we enter a new phase in UCS` lifecycle, looking to broaden our investment portfolio and geographic diversification as a pure investment company for technology and associated businesses. "I look forward to continue to work closely with Dean and the team in my new non-executive role." To date, the Group is on track to conclude the delisting of its shares from the exchange operated by the JSE Limited on or about 25 October 2011 at which time the name will also be changed to that of Capital Eye Investments Limited as approved by shareholders at the general meeting of 22 September 2011. The principles of good corporate governance will remain key principles for the on- going management of the Group post delisting and therefore the board of directors of Capital Eye Investments Limited will continue to be constituted on a basis that upholds these principles together with the requirements of the Companies Act 71 of 2008. Johannesburg 30 September 2011 Corporate Advisor and Sponsor One Capital Date: 30/09/2011 13:17:09 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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