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WORKFORCE HOLDINGS LIMITED - Change to the Board of Directors - Appointment of CEO and Change in Functions

Release Date: 26/07/2016 12:07
Code(s): WKF     PDF:  
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Change to the Board of Directors - Appointment of CEO and Change in Functions

Workforce Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF      ISIN: ZAE000087847
(“Workforce” or “the Company” or “the Group”)


CHANGE TO THE BOARD OF DIRECTORS - APPOINTMENT OF CEO AND CHANGE IN FUNCTIONS


In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of
Workforce (“the Board”) hereby notifies its shareholders that Mr Philip Froom has been appointed as an
executive director and Chief Executive Officer with effect from 15 August 2016.

Mr Froom was a shareholder and director of the Paycorp Group Proprietary Limited (“Paycorp”) (a former
subsidiary of the listed company, Transaction Capital Limited), and a founding shareholder and Chief
Executive Officer of subsidiary companies of Paycorp for 11 years. Previously, after completing articles at
Grant Thornton, Mr Froom worked at Mettle Specialised Finance Proprietary Limited, facilitating
securitisations, debt origination and leveraged buyout transactions.

Mr Froom holds a Bachelor of Commerce (with distinction) and a B Com Honours (Taxation) from the
University of the Witwatersrand. In addition, Mr Froom is a qualified Chartered Accountant and a Chartered
Financial Analyst.

Following Mr Froom’s appointment to the Board:
- Mr Ronny Katz will no longer serve as acting Chief Executive Officer and will resume his role as
  Executive Chairman of the Board;
- Mr John Macey will cease acting as Chairman of the Board and he will resume his role as lead
  independent director and Chairperson of the Audit and Risk Committee; and
- Ms Kyansambo Vundla will cease acting as Chairperson of the Audit and Risk Committee and she will
  resume her role as independent non-executive director and member of the Audit and Risk committee.

The Board welcomes Mr Froom, and looks forward to his contributions to the Group.

Johannesburg
26 July 2016

Designated Adviser
Merchantec Capital

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