VILLAGE MAIN REEF LIMITED - Changes to the board of directors and executive functions

Changes to the board of directors and executive functions

VILLAGE MAIN REEF LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005703/06)
Share Code: VIL ISIN: ZAE000154761
(“Village” or “the company”)



CHANGES TO THE BOARD OF DIRECTORS AND EXECUTIVE FUNCTIONS



In line with Village’s stated strategy to transform itself into a diversified resources investment company,
Village is pleased to announce a number of changes at the executive management level with effect from
14 May 2013, aimed at accelerating the creation of value for its stakeholders.

Village already has an exposure to platinum, gold and antimony, and a small investment in Continental Coal
Limited (“Conti”). The re-structuring at the executive level allows key individuals to focus on each of the
assets that Village is currently exposed to.

This will see Marius Saaiman, currently the joint chief executive officer, take up the position of managing
director of the Village platinum asset. Marius will focus on the opportunities currently available in the
platinum sector and this will allow Village to benefit from its investment in the world class Lesego project.
Marius will remain an executive director of Village, but will no longer be the joint chief executive officer.

Dalu Ncube, currently the chief operating officer of Village, will assume the role of managing director of the
Village antimony operations. Dalu will play an important role in maximising value from the current disposal
process of the Cons Murch Gold and Antimony mine. Dalu will remain an executive director of Village but
will no longer be the chief operating officer of Village.

Ferdi Dippenaar, currently a non-executive director of Village, has been appointed as the managing director
of Village’s gold assets. This appointment will see Ferdi join the executive team with a focus on extracting
value from the gold portfolio of Village.

As an executive of the company, Ferdi can no longer be chairman of the audit committee, and therefore
Gerard Kemp, an existing independent non-executive director of Village, has been appointed as chairman of
the audit committee.

Bernard Swanepoel, the Chief Executive Officer of Village, will take up a board position at Conti, in order
to positively impact on this Village investment.

Chief Executive Officer of Village, Bernard Swanepoel comments: “The strengthening of the executive
team provides Village with the necessary capacity to accelerate the execution of our stated strategy”.

14 May 2013


Sponsor

Java Capital

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