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Changes to the board of directors : Retirement of CEO and appointment of interim CEO
Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number 1984/007758/06
Share Code: BSR ISIN: ZAE000029781
("Basil Read" or the “Company" or the “Group”)
CHANGES TO THE BOARD OF DIRECTORS: RETIREMENT OF CHIEF EXECUTIVE OFFICER AND APPOINTMENT OF INTERIM
CHIEF EXECUTIVE OFFICER
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, Basil Read announces that Mr Marius Heyns, the Chief
Executive Officer (“CEO”) of the Company, has advised the board of directors (the “Board”) of his intention to retire. As a consequence,
the Board has accepted Marius’ resignation as a director of the Company with effect from 31 May 2014.
Marius will continue to serve as CEO of the Company until his retirement. Basil Read has initiated the necessary processes with regard
to the appointment of a successor for Marius as CEO of the Company.
To this end, Mr Terence Desmond Hughes, the Managing Director of Basil Read Developments, has been appointed as interim CEO
with effect from 1 June 2014, however will commence working with Marius and the Board with effect from 1 May 2014, to ensure an
efficient hand-over process. Des (P. Eng (UK) MSPE; Pr. CPM; MSE Civil, ASCIOB) has been with the group for the last 13 years, and
has 43 years’ experience in the construction industry. He started his career in the industry with GT Hemingway Consulting Engineers –
Cape, and subsequently held various positions with ZMG Consulting Engineers – London (UK), Murray & Stewart –Cape, and LTA
Building – Cape respectively, before joining Basil Read Building – Cape in 1996.
Basil Read has a strong and capable management team that will assist in ensuring that the appropriate business focus remains in place
during the period when the process of seeking a successor for Marius takes place.
The Chairman and the Board wish to acknowledge the significant contribution Marius has made to the Company over the past 20 years,
of which ten have been as CEO, and wishes him well for the future.
Johannesburg
27 March 2014
For further information please contact:
Marius Heyns
CEO: Basil Read
Office: +27 11 418 6570
JSE Sponsor
Macquarie First South Capital Proprietary Limited
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