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SUSPENSION OF EXECUTIVE DIRECTOR
Cipla Medpro South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
Share code: CMP
ISIN: ZAE000128179
(the "Company" or “Cipla Medpro”)
SUSPENSION OF EXECUTIVE DIRECTOR
The Board of Cipla Medpro (the “Board”) regrets to inform shareholders that at the meeting of the
Board held on 14 August 2012 the Board resolved to undertake a full investigation into serious
allegations concerning its Chief Executive Officer (“CEO”), Mr Jerome Smith. Shareholders can rest
assured the Board did not take this step lightly and without very long, careful and considered thought.
Pursuant to this decision, Mr Smith has been suspended with effect from 15 August 2012 pending the
outcome of the investigation.
The Board has appointed Mr Johan du Preez as acting CEO for the duration of Mr Smith’s
suspension. Mr du Preez currently serves on the Board as an independent non-executive director.
He has a MPharm from the University of Pretoria, as well as a MBA from the National University in
San Diego, California. Mr du Preez has a wealth of extensive corporate experience having previously
held the positions of CEO of ADATO Capital, Glacier by Sanlam (previously called Innofin) and
Sanlam Health, Mr du Preez is the founder and managing director of SAAD Investment Holdings , an
investment company primarily focusing on establishing new financial services entities. He has been
involved in various industries locally and in the USA, including Pharmaceutical Retail, Medical
Insurance & Risk Management, Investment Management, Life Insurance and Financing.
The Board has full confidence that Mr du Preez is best placed to execute this interim office in the
circumstances so that the business of the Company will continue as usual during the investigation
and in a manner designed to minimise the impact on day to day operations.
The Board will take all steps open to it to endeavour to ensure that the investigation will be completed
as quickly as possible and will continuously monitor the operations of the Company.
Shareholders are invited to direct any queries which they may have only to the Chairman of the
Board, Mr Sbu Luthuli.
Further announcements will be made by the Board as appropriate from time to time. The results of the
Company will be released on SENS on 16 August 2012 as originally scheduled.
Durban
15 August 2012
Sponsor
Nedbank Capital
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