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TRENCOR LIMITED - Textainer announces changes to board of directors

Release Date: 24/05/2016 12:10
Code(s): TRE     PDF:  
Wrap Text
Textainer announces changes to board of directors

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TEXTAINER ANNOUNCES CHANGES TO BOARD OF DIRECTORS

We draw attention to the following United States Securities and Exchange Commission
filing made on 23 May 2016 by Textainer Group Holdings Limited, in which Trencor has
a 48,2% beneficiary interest:

“Textainer Group Holdings Limited (NYSE: TGH) (the “Company”) announced that
effective upon the closing of the May 19, 2016 meeting of the Board of Directors of the
Company, Mr. Neil I. Jowell, the current Chairman of the Board of Directors, tendered his
resignation and Mr. Cecil Jowell, a member of the Board of Directors, also tendered his
resignation. As previously disclosed, Mr. James E. Hoelter did not seek re-election to the
Board of Directors at the May 19, 2016 Annual Meeting of Shareholders. The Company
and the Board of Directors offered thanks to the Jowell brothers and Mr. Hoelter for their
many years of dedicated service to the Company and their contributions that led to the
remarkable growth and success of the Company.

The remaining members of the Board of Directors approved the appointment of Mr. Iain
Brown to serve the term of one of the Board vacancies caused by the Jowell brothers’
retirement. This term shall conclude at the 2017 Annual Meeting of Shareholders.
Mr. Iain Brown is a director of Container Investment Services Limited and has been
providing administrative services and strategic advice to owners and investors in the
container leasing industry for over twenty years. He holds a Bachelor of Science in
Engineering degree from the University of Cape Town, a MS in Engineering from
University of Texas and an MBA in Finance from The Wharton School of the University
of Pennsylvania.

The Board of Directors also determined that Mr. Hyman Shwiel will serve as the
Chairman of the Board of Directors and as the chair of the Compensation and Audit
Committees of the Board of Directors. Mr. Dudley Cottingham will serve as the chair of
the Corporate Governance and Nominating Committee of the Board.”

Trencor Services (Pty) Ltd
Secretaries
24 May 2016

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

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