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PURPLE GROUP LIMITED - Resignation of a director, change in the functions of directors, change in composition of the board and change in th

Release Date: 31/08/2016 12:10
Code(s): PPE     PDF:  
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Resignation of a director, change in the functions of directors, change in composition of the board and change in th

Purple Group Limited

(Incorporated in the Republic of South Africa)

(Registration number 1998/013637/06)

Share code: PPE ISIN: ZAE000185526

(“Purple Group” or “the Company”)



RESIGNATION OF A DIRECTOR, CHANGE IN THE FUNCTIONS OF DIRECTORS, CHANGE IN COMPOSITION
OF THE BOARD AND CHANGE IN THE COMPOSITION OF THE AUDIT AND REMUNERATION
COMMITTEES

In compliance with paragraph 3.59(c) of the Listings Requirements of the JSE Limited, shareholders are
hereby notified of the following changes:


Thembeka Gwagwa has resigned from the Board with immediate effect to pursue other ventures. The
Board would like to thank Thembeka for her contribution to the Company and wish her well.


Mr Craig Carter is currently a Non-Executive Director of the board and the Chairman of the Audit
Committee and the Social and Ethics committee. Effective immediately Mr Carter’s function will be
changed to an Independent Non-Executive Director and he has been appointed as the Chairman of the
Remuneration Committee.


Mr Dennis Alter is currently a Non-Executive Director of the Board and a member of the Audit Committee.
Effective immediately Mr Alter’s function will be changed to Independent Non-Executive Director.


Mark Barnes, the Non-Executive Chairman of the Board has been appointed onto the Audit Committee to
replace Thembeka Gwagwa.


Subsequent to the aforementioned changes, the Board will from 31 August 2016 comprise Mr Mark
Barnes (Non-Executive Chairman), Charles Savage (Chief Executive Officer), Gary van Dyk (Chief Financial
and Operations Officer), Dennis Alter (Independent Non-executive Director), Craig Carter (Independent
Non-executive Director), and Ronnie Lubner (Lead Non-executive Director).
The Remuneration Committee will from 31 August 2016 comprise Mr Craig Carter (Chairman), Mr
Ronnie Lubner and Mr Mark Barnes.


The Audit Committee will from 31 August 2016 comprise Mr Craig Carter (Chairman), Mr Dennis Alter
and Mr Mark Barnes.


The composition of the Board and the other Committees will continue to be reviewed to ensure that it
remains compliant with the King III requirements insofar as is practicable.


Johannesburg
31 August 2016
Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

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