AFRICAN BANK LIMITED - Appointment of Gustav Raubenheimer as Chief Financial Officer Designate for Good Bank

Appointment of Gustav Raubenheimer as Chief Financial Officer Designate for Good Bank

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank” or “the Bank”)

Appointment of Gustav Raubenheimer as Chief Financial Officer Designate for Good Bank 

Stakeholders are referred to the statement regarding the Curatorship of African Bank ("the
Curatorship") made by the then Governor of the South African Reserve Bank ("SARB"), Ms. Gill
Marcus, on 10 August 2014 ("the SARB statement") and to the SENS announcements released by
African Bank Investments Limited ("ABIL") and African Bank on 26 September 2014, 10 December
2014, 3 March 2015 and 31 March 2015, and by African Bank on 28 and 29 May 2015 ("the
Restructuring SENS Announcements") and the announcement on 11 June 2015 (“the June 2015
Curatorship update”).

The SARB statement noted that Mr. Tom Winterboer was appointed as Curator of African Bank ("the
Curator") in terms of the Banks Act No. 94 of 1990 (as amended) on 10 August 2014. At the same
time the SARB statement set out proposals for a restructuring of African Bank ("the Restructuring
Proposal").

The SARB statement and the Restructuring SENS Announcements detailed the proposed structure
including the implementation of the Good Bank Restructuring Proposal.

The Curator and Brian Riley, the CEO designate, are pleased to announce that the SARB has
approved the appointment of Gustav Raubenheimer (45) to the position of CFO Designate of Good
Bank and its new Holding Company (“New HoldCo”) with immediate effect.

Gustav has been with African Bank since October 2012 as the Executive for credit. Prior to joining
African Bank, Gustav was the Chief Risk Officer for Retail and Business Banking at Absa Bank from
2008 to 2012. He joined Absa from Nedbank where he was the Head of the Retail Credit Lab from
2002 to 2008. Gustav’s employment contract remains with African Bank for the time being and will be
novated to Good Bank.

Gustav is a qualified Chartered Accountant (South Africa) and qualified as a Chartered Financial
Analyst (“CFA”) in 2003. He also holds a Treasury Diploma from UNISA and has completed an
Advanced Management Course from the University of the Witwatersrand.


On behalf of the Curator of African Bank

Midrand
31 July 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Footnote : T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by the
Minister of Finance of the Republic of South Africa and pursuant to the Banks Act No. 94 of 1990 (as
amended) to manage the affairs of African Bank Limited subject to the supervision of the Registrar of
Banks. Please note that Mr Winterboer acts in the aforesaid capacity.

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