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Notice to Shareholders - Change in Board of Directors
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(“Letshego Holdings” or “the Company”)
This announcement is being released on the Johannesburg Stock Exchange
for information purposes only in respect of Letshego Holdings
Limited’s Note Programme
NOTICE TO SHAREHOLDERS
The Board of Directors wish to advise Shareholders, Regulators,
Directors of Subsidiaries, Management and Letshego Group personnel of
Rre C M Lekaukau’s decision to step down as Chairman and as a Director
from the Board of Directors of Letshego Holdings Limited (‘LHL’), the
listed entity on the Botswana Stock Exchange. Rre C M Lekaukau will
remain as a director of Letshego Financial Services Botswana, the
largest subsidiary in the Letshego Holdings Limited Group.
Rre C M Lekaukau has been the Chairman of LHL for the past 10 years,
during which period the LHL Group experienced tremendous growth in
terms of the nature of its business as well as in its financial
performance.
The Board of Directors recently took a decision to transform the LHL
Group to a wider financial services institution, which will not only
offer a broader range of products, but will also focus on wider
financial inclusion in the markets in which it operates. In June this
year, in line with this strategic intent, the LHL Group acquired an
East African financial group, Micro Africa Limited, which concentrates
on the SME and group lending financial debt products.
Rre C M Lekaukau, having informally intimated to the Board of
Directors at the beginning of the year that he may now wish to step
down for personal reasons, has formally stepped down as Chairman and
resigned his directorship as he feels that it is also in the interest
of the Company that a new Chairman should drive the transformation
from the outset. The resignation is effective 30 November 2012.
The Board of Directors wishes to thank Rre C M Lekaukau for his
dedicated and visionary leadership which has enabled the LHL Group to
achieve its commendable success as a truly indigenous Company and
exporter of financial services, through its initial accreditation as
an International Financial Services Center Company, now Botswana
Investment and Trade Center.
The Board of Directors will endeavour to appoint a new Chairperson to
the LHL Group in the near future. In the interim, Mr John Burbidge, a
long standing independent non-executive director, will serve as Acting
Chairman with effect from 1 December 2012.
ISSUED BY THE BOARD OF DIRECTORS OF
LETSHEGO HOLDINGS LIMITED
GABORONE
8 NOVEMBER 2012
Debt sponsor in South Africa
Renaissance BJM Securities (Pty) Ltd
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
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