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AFRICAN DAWN CAPITAL LIMITED - Changes to the Board

Release Date: 29/05/2013 10:30
Code(s): ADW     PDF:  
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Changes to the Board

African Dawn Capital Limited
Incorporated in the Republic of South Africa
(Registration Number:1998/020520/06 )
JSE share code: ADW
ISIN: ZAE000060703
(“Afdawn” or the “company")



CHANGES TO THE BOARD


In terms of paragraph 3.59 of the Listings Requirements
of the JSE Limited, the board of Afdawn wishes to advise
of the following changes to the board of directors which
are in line with the ongoing operational and strategic
repositioning of the company. This is another step
towards the new announced vision of becoming an active
investment holding company and these appointments are
building capabilities to enable the vision. The Board
will pursue a re-engineering phase that will see the
establishment of a platform based on capabilities,
resources and entrepreneurial acumen. The Board members
have the strategic skills to evaluate proposals of the
acquisition of new investments, consider management’
endeavours towards adding value to these investees as
well as the strategic ability needed to guide the tactics
of unlocking of value.




APPOINTMENTS TO THE BOARD


Afdawn wishes to announce the following appointments:
WENDY (“WENDY”) LUHABE as independent non-executive
director, effective immediately and who will be appointed
to the audit committee of the company.


Wendy is a social entrepreneur activist who has extensive
board experience in Corporate Strategy, Marketing,
Corporate Governance and Human Capital Development in
both the private and public sectors. Wendy was recognised
by the World Economic Forum in Switzerland as a Global
Leader for Tomorrow, the Osaka Junior Chamber in Japan as
an Outstanding Young Person and by Unisa Business School
in South Africa for Leadership in Practise. She was
featured in a Sunday Times survey as one of South
Africa’s 20 most powerful women she was also honoured as
one of 50 Leading Women Entrepreneurs of the World. She
is a recipient of 3 honorary doctorates and a member of
the International Council of Business Women Leaders
initiated by Ms Hilary Clinton, on the Economic
Empowerment of Women. She is currently an advisor to The
Big Break Legacy TV production, an initiative to make
South Africa an Entrepreneurial nation. She is also on
the Supervisory Board of the IMD business school in
Lausanne, Switzerland


VANYA (“VANYA”) LESSING as independent non- executive
director, effective immediately and who will be appointed
to the audit committee of the company.


Vanya is the CEO of the Sure Travel Group; she is also
the Vice-President of (Association of South African
Travel Agents).   In this position Ms Lessing was
responsible for looking after the broader interests of
the travel industry, liaising and negotiating with many
Government and world body travel organizations. This was
a time of change management for the travel industry, in
that a new business model was introduced.   Ms Lessing led
travel companies and suppliers through a series of
sensitive negotiations, resulting in a successful
transition to the new model.   Board positions held during
this period were ASATA, Tourism Business Council of South
Africa, THETA (now Cathsseta) and the United Federation
of Travel Agents Associations (global body) Vanya has
extensive experience in collaboration interaction with
related SMEs and expediting turn-around strategies. The
Sure Group has more than 100 franchisees. Her strong
negotiating abilities will bring ‘on the ground’
expertise to the Board.




KEET (“KEET”) VAN ZYL as independent non-executive
director, effective immediately.


Keet is a ‘Venture Catalyst’ with extensive high-growth
investment experience. He structured various private
equity funds in Southern Africa for a US fund-of-funds
investor and worked in growth finance at industry-leading
companies such as Procter & Gamble, Investec Bank and
Here Be Dragons (HBD) Venture Capital – the fund managers
behind SA internet billionaire Mark Shuttleworth's
successful venture capital fund. He co-founded growth
equity fund manager: Knife Capital (where he is a partner
and board member of various portfolio investments) to
fund and support knowledge-enabled entrepreneurs. Keet is
passionate about building the early-stage funding
ecosystem in Sub-Saharan Africa. He co-founded business
angel investment group AngelHub as well as the new
Grindstone business accelerator that will assist SA
technology SMEs to become sustainable and fundable. Keet
has expansive experience in the total Venture Capital
value chain and will bring VC experiences and skills that
will reduce risk and improve desired outcomes in line
with the new vision of the company. The appointment of
Keet van Zyl also establishes a bilateral relationship
with Knife Capital that will result in strong operational
synergies between the entities.

The board wishes Wendy, Vanya and Keet well in their new
roles with the company.   The additional technical and
financial skills which they bring will benefit the
company as it progresses in implementing its growth
strategy.


RESIGNATION FROM THE BOARD


Mrs Lynnette (“Lyn”) Taylor, resigns as an independent
non-executive member the board effective immediately.


The board wishes to thank Lyn for her valuable
contribution to the board and the company during her
tenure on the board.


Johannesburg
29 May 2013


Designated Advisor
Sasfin Capital
(a Division of Sasfin Bank Limited)

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