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Changes to the Board of Directors
AFRICAN DAWN CAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE code: ADW
ISIN: ZAE000060703
(“Afdawn” or "the company")
CHANGES TO THE BOARD OF DIRECTORS
In terms of paragraph 3.59 of the JSE Limited’s Listings
Requirements, the board of Afdawn wishes to advise the
following changes to the Board of directors effective 10 April
2013.
The board has decided to change the vision of the company to
become an active investment holding company acquiring
shareholding in entrepreneurial companies, with strong
innovation drive, which are in proven growth phases by
enhancing the capabilities of these entities to accelerate
long term sustainable growth.
As a result the board is pleased to announce the appointment
of Mr Mac van der Merwe as Executive Chairman to drive this
change of direction. The company will embark on a process of
broadening entrepreneurial and related investment capabilities
at corporate and operational levels.
Mac was educated as a Mechanical Engineer and has studied
Business Management at UNISA. Mac has comprehensive
entrepreneurial experience over 30 years he was in 1982 the
founder and Managing Director of Park Motors Group and in 1989
founded VaalMac Engineering in Meyerton and Saldanha. In the
1990’s Mac co-founded Skills Accel, a skills development
company. In 1995 van der Merwe was responsible for the listing
of VaalMac Engineering through a reverse listing of City
Investment Holdings and Spicer Mitchell Holdings. One of the
paramount ventures was acquiring controlling shareholding of
President Steyn Gold Mine in 1997 and the turnaround of the
five shaft operation securing 4,500 jobs. The mine was later
listed on the JSE and sold to a Canadian company. Mac’s
experience in business reaches over start-up businesses to
mature profitable projects all within an entrepreneurial
framework. Early 2002 the van der Merwe family bought various
hospitality businesses under the banner of the Zorgvliet Group
and in 2011 he initiated the development of Community+27 an
online community portal which has recently been completed.
Mr Tjaart Kruger CA (SA), the current CEO has re-assumed the
role as group financial director. The remaining directors,
being Mr C Wiese, CA (SA), Dr G E Stoop, DBA, Ms HH Hickey CA
(SA), Ms L Taylor BJuris, LLB, LLM and Mr WJ Groenewald BCom
(Hons), remain unchanged. Mr CF Wiese will assume the role of
Lead independent Non Executive Director.
Johannesburg
10 April 2013
Designated Advisor
Sasfin Capital
(A division of Sasfin Bank Limited)
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