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Changes to the Board
African Dawn 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
It is announced that Mr JS (Mac) van der Merwe has stepped
down as CEO of the company with effect from 24 February 2014.
Mr WJ (Jacques) Groenewald has been appointed as Acting CEO of
the company with effect from the same date. He has also been
appointed to the boards of various Afdawn group subsidiaries,
including major subsidiaries, in a non-executive capacity.
Mr van der Merwe will at this time remain as non-executive
chairman of the company.
The rationale of the latest changes is to further bolster
specific capabilities thus optimizing the introduction of the
vision ‘to become an active investment holding company
investing in innovative growth SMEs’.
Jacques has extensive comprehension and understanding of the
Knife Capital tool sets and investment growth methodologies.
With the acquisition of Knife Capital, a talented management
team is being introduced that will be allowed to establish a
new business culture, based on their capabilities and approach.
The Board is of the view that for strategic renewal to take
place, the new team under the leadership of Jacques should be
able to trigger the required corporate and operational changes.
Jacques background and intimate knowledge of the Afdawn
evolvement makes him an ideal candidate to lead the company in
this next phase.
25 February 2014
Designated Advisor
Sasfin Capital (a division of Sasfin Bank Limited)
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