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Altron Telecommunications, Multimedia and Information Technology Division and associated Senior Management changes
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code : ATN ISIN : ZAE000029658
Share Code : ATNP ISIN : ZAE000029666
(“Altron” or “the company”)
Creation of new Altron Telecommunications, Multimedia and Information Technology
(“TMT”) Division and Associated Senior Management Changes
Shareholders are referred to the offer made by Altron’s wholly owned subsidiary, Altron Finance
(Pty) Ltd (“Alfin”), to acquire the entire issued ordinary share capital of Allied Technologies Limited
(“Altech”) that the Altron group did not already own (“Altech shares”) by way of a Scheme of
Arrangement, which was approved by Altron and Altech shareholders at separate General
Meetings held on Friday, 26 July 2013 (“the transaction”).
In terms of a circular delivered by Altron to its shareholders on 27 June 2013, shareholders were
advised that the acquisition by Alfin of the Altech shares would, among others, possibly necessitate
a management re-structure within the Altron group, the details whereof would be communicated in
due course.
Shareholders are now advised that following the operative date of the transaction, Altron will create
a new division within the Altron group to be known as the Altron TMT division, which will comprise
of certain Altech and Bytes Technology Group (Pty) Ltd (“Bytes”) businesses, while retaining the
existing legal entities of Altech and Bytes.
The new Altron TMT division will focus on maximising synergies and eliminating overlaps between
the current IT and Telecommunications businesses of Altech and Bytes and will result in the
creation of the largest converged solutions group on the African continent.
Accordingly and in compliance with paragraph 3.59 (c) of the JSE Limited’s Listings Requirements,
shareholders are advised of the following proposed changes to important functions and executive
responsibilities which will take place at Altron following the operative date of the transaction.
Mr Craig Venter, the current chief executive officer of Altech and member of the Altron board and
executive committee will, while continuing to fulfil his existing roles on the Altron board and
executive committee, as well as Altech chief executive officer, be appointed to the position of
Altron group executive: TMT, with strategic and operational responsibility for managing the new
division and reporting to the Altron chief executive, Mr Robert Venter.
Mr Rob Abraham, the current chief executive officer of Bytes and member of the Altron board and
executive committee, will continue in his current position and remain on the Altron board and
executive committee, reporting directly to Mr Craig Venter.
Mr Peter Riskowitz, the current chief financial officer of Bytes will be appointed the chief financial
officer for the Altron TMT division and will report directly to Mr Craig Venter.
In addition to the aforegoing appointments, Dr Willie Oosthuysen, currently the chief technology
and strategic officer of Altech, will, with immediate effect, be appointed to the Altron executive
committee as group executive: technology and strategy, reporting directly to the Altron chief
executive, Mr Robert Venter.
Johannesburg
02 August 2013
Sponsor
Investec Bank
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