AFROCENTRIC INVESTMENT CORP LIMITED - Changes to the Board - Retirement of a director and Company Secretary and appointment of a director

Changes to the Board - Retirement of a director and Company Secretary and appointment of a director

Afrocentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT, ACTP
ISIN: ZAE000078416, ZAE000082269
(“AfroCentric” or “the Company”)


CHANGES TO BOARD OF DIRECTORS AND OFFICERS

In terms of paragraph 3.59 of the JSE Limited Listings
Requirements, shareholders are advised that the following
changes to the Board of Directors and Officers are effective
immediately:

Ms Brigalia Bam has advised the Company that she wishes to
retire as Non-Executive Chairperson. Ms Bam will however remain
on the Board as a Non-Executive Director. The Board wishes to
thank Ms Bam for her valuable contribution to the Company as
Non-Executive Chairperson.

The Board is delighted to advise that Dr Anna Mokgokong has
been appointed Non-Executive Chairperson of the Board. Dr
Mokgokong has been a Director of AfroCentric since June 2010
and has since that date added significant value to AfroCentric.
A past South African Business Woman of the Year, Dr Mokgokong
has achieved international acclaim for her community endeavours
and entrepreneurial ability.

Shareholders are further advised that Michael (Motty) Sacks has
retired as Company Secretary. Mr Sacks will however remain on
the Board as a Non-Executive Director.

An announcement will be made in due course in connection with
the appointment of a Company Secretary and until that time Mr
Shayne Ablett, the current Company Secretary of AfroCentric
Health Limited will act in that capacity.

Finally, the Board of Directors of AfroCentric is delighted to
announce that Mr Dewald Dempers, presently the Chief Executive
Officer of AfroCentric Health has been appointed as AfroCentric
Group Chief Executive Officer. Dewald Dempers, aged 43, has a
B.Comm Degree from the University of Johannesburg. He has more
than 20 years service in the Private and Public Healthcare
Sector and AfroCentric will no doubt benefit greatly from his
knowledge and experience.

10 September 2012

Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

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