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CIPLA MEDPRO SOUTH AFRICA LIMITED - Key executive appointments

Release Date: 02/11/2012 13:00
Code(s): CMP     PDF:  
Wrap Text
Key executive appointments

CIPLA MEDPRO SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
(ISIN Number: ZAE000128179 Share Code: CMP)
("Cipla Medpro" or "the Company")



Key executive appointments

In accordance with section 3.59 of the JSE Limited Listings Requirements, shareholders are
advised that Dr Skhumbuzo Ngozwana and Mr Mark James van Lill Sardi have been
appointed as joint Deputy Chief Executive Officers of Cipla Medpro. Dr Ngozwana will join
Cipla Medpro no later than 1 December 2012 and Mr Sardi will join no later than April 2013
but may be sooner depending on how soon his replacement is announced at Truworths
International Limited (Truworths). Dr Ngozwana and Mr Sardi will not be appointed as
executive directors to the Board of Cipla Medpro at this stage.

Dr Ngozwana holds qualifications in medicine, medical pharmacology and business
administration and has extensive experience in the pharmaceutical and healthcare sectors.
He joins Cipla Medpro from the United Nations International Development Organisation
(UNIDO), where he was the Lead Consultant on the development of the ‘business plan’ for
the Pharmaceutical Manufacturing Plan for Africa (PMPA). PMPA is the African Union’s
programme which aims to promote local production and the development of the
pharmaceutical industry on the continent. Dr Ngozwana has a solid understanding of the
pharmaceutical sector globally and on the African continent in particular. Dr Ngozwana was
previously the Deputy Chief Executive Officer of one of the Cipla Medpro subsidiaries and the
former Chairman of the National Association of Pharmaceutical Manufacturers of South
Africa. He brings strong regulatory, policy, medical and pharmaceutical expertise to the
Company.

Mr Sardi is a chartered accountant and holds a B.Bus. Sci (Hons) degree from the University
of Cape Town. He currently serves as Chief Financial Officer at Truworths (a JSE Top 40
listed retailer with a market capitalisation of approximately R43bn) and prior to that he was
head of investment banking at Nedbank Capital. During his time at Nedbank Capital Mr Sardi
lead the team that oversaw the acquisition of Cipla Medpro Holdings Proprietary Limited by
Enaleni Pharmaceuticals Limited (now Cipla Medpro), the listing of Cipla Medpro on the JSE
in 2005 and the raising of R1.5bn in equity and preference share funding for this transaction.
He also assisted in the structuring of the broad-based black economic empowerment (Sweet
Sensations) transaction with the IDC and raised, via an equity private placement, capital for
the upgrade of the factory in Durban as well as lead the team that successfully defended
Cipla Medpro from a takeover bid from Adcock Ingram in 2009. Mr Sardi brings strong
financial, governance and commercial expertise to the Company.

The Board is pleased to announce these appointments and is confident that the significant
value they both bring in terms of their knowledge, experience, skill and values will significantly
contribute to the Company’s quest to be the leading pharmaceutical company listed in South
Africa. The Board wishes them well with their future careers at Cipla Medpro.




Durban
2 November 2012


Sponsor
Nedbank Capital

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