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AVENG LIMITED - Business Re-organisation and Management Changes

Release Date: 03/05/2013 15:45
Code(s): AEG     PDF:  
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Business Re-organisation and Management Changes

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng Group”, “Aveng” or "Group")


Business Re-organisation and Management Changes


The Aveng Group wishes to announce that it intends to re-group certain business units into more
relevant and aligned Operating Groups, and re-organise management structures of the new
divisions.

Aveng Steel: In the current Aveng structure, there are three steel-related businesses in three
different Operating Groups; DSE in Aveng Grinaker-LTA, Aveng Steeledale in Aveng
Manufacturing and Aveng Trident Steel. To improve the customer focus of the businesses and to
streamline operations, it is proposed to combine all of the above mentioned steel units into one
operating entity called Aveng Steel.

Aveng Construction Africa: A new division, to be known as Aveng Construction Africa, will be
established to incorporate the entire construction portfolio in South Africa and the rest of Africa.
Aveng Grinaker LTA as the main business unit within the Aveng Construction Africa operating
group will continue to function in its current form with the exception of the Specialised
Businesses. The Specialised business cluster has been reviewed and the specialised business
cluster will be collapsed by moving `construction related units` directly under the construction
units of Aveng Grinaker-LTA and manufacturing/sales units directly under Aveng Manufacturing
or Aveng Steel.

Aveng Engineering: Aveng Engineering will become the central unit responsible for generic
engineering services and project management activities with Aveng Water, Power & Energy
(including Renewables) and Minerals becoming the customer facing sub units.

Senior Management Changes
The Group is pleased to announce that Brian Wilmot has agreed to relinquish his role as Group
Executive: Aveng Mining and will be assuming the position of Managing Director of Aveng
Construction Africa. Brian brings a wealth of construction and contracting experience to his new
role, having spent the first 15 years in the civil engineering industry and the last 22 years in
contract mining.

In view of Brian Wilmot’s appointment into an executive role responsible for Aveng Construction
Africa, the current Managing Directors for Aveng Moolmans and Aveng Shaft and Underground
Mining in the interim will both report to the Aveng Group CEO.
The Aveng Group wishes to announce the resignation of Grahame McCaig as Managing Director
of Aveng Grinaker-LTA. The Aveng Group extends its appreciation to Mr McCaig for his
contribution and wishes him success in the future.

Hercu Aucamp, currently the Managing Director of Aveng Trident Steel, will be appointed to lead
Aveng Steel.

It is proposed that Gavin Young, currently the Managing Director of Aveng E+PC, will lead the
Aveng Engineering cluster.

Morningside, Sandton
3 May 2013

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

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