VILLAGE MAIN REEF LIMITED - Restructures Board

Restructures Board

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”)




VILLAGE MAIN REEF RESTRUCTURES BOARD


Further to the announcement of Village’s strategic review contained in the Company’s quarterly results,
notification is hereby given of the following changes to the Board of Directors, which changes are effective
from 1 February 2015.

Ms Octavia Matloa has been appointed as Deputy Chairman and Lead Independent Non-Executive Director.
Mr Godfrey Ntoele has been appointed as an independent Non-Executive Director after the resignation of
Ms Khetiwe McClain who resigned as director to pursue opportunities related to the rehabilitation of Buffels, a
Village subsidiary. In addition, Mr Dalu Ncube has also resigned to pursue personal business interests which
may potentially cause a conflict of interest in his current role as an Executive Director of Village Main Reef.

Mr Ntoele spent some 18 years with Telkom SA Limited, during which time he held several positions including
Managing Executive of Business Services. He is currently acting as a business development consultant.
Mr Ntoele has a BA (Law) degree, has completed the Rhodes University Management Development
Programme and received the Program for Management Development Certificate from the Harvard Graduate
School of Business.

This current restructuring supports Village’s objective of having an appropriately sized and configured Board of
Directors and is aligned with the re-organisation taking place throughout the Company.

Mr Bernard Swanepoel, Chairman of the Board of Directors, said, “We congratulate Ms Matloa on her
appointment as Deputy Chairman and welcome Mr Ntoele to the Board. I would like to thank all members of
the Village Board for their various contributions during the past few years and wish Ms McClain and Mr Ncube
well in their future endeavours.”

Illovo
26 January 2015


Sponsor
Bravura Capital (Pty) Ltd

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