AFRICAN BANK INVESTMENTS LIMITED - Changes to the Board of Directors Appointment and Change in Function

Changes to the Board of Directors – Appointment and Change in Function

AFRICAN BANK INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1946/021193/06)
Ordinary share code: ABL      ISIN: ZAE000030060
Hybrid instrument code: ABLP     ISIN: ZAE000065215
(“ABIL” or “the Company”)


CHANGES TO THE BOARD OF DIRECTORS – APPOINTMENT AND CHANGE IN FUNCTION


In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of ABIL
(“the Board”) hereby notifies its shareholders that with effect from 1 October 2016:

-   Mr John Evans (“John”) has been appointed to the Board as Executive Financial Director of the Company.

    John is a Chartered Accountant (CA (Aus)) with 20 years of business advisory experience. He began his
    career in Sydney, Australia with specialist turnaround management business, Jirsch Sutherland.

    In 2001 John joined Deloitte Reorganisation Services in Edinburgh before transferring to Deloitte South
    Africa in 2002. John was a director of the Deloitte Corporate Finance team, with specific focus on
    restructuring and turnaround management projects. In 2008, John founded RS Advisors and has since
    then worked on a number of restructuring and corporate finance assignments in South Africa, Europe and
    the Middle East.

    John was, together with Mr Dawie van der Merwe, one of the joint business rescue practitioners for ABIL.
    Since the successful completion of the business rescue proceedings on 19 May 2016, John has assisted
    the Board with the day-to-day management of the Company.

-   Dr Enos Banda, the Independent Non-Executive Chairman, will assume the role of Executive Chairman
    of the Board.

    Due to the appointment of Dr Banda as Executive Chairman, the Board will appoint a Lead Independent
    Non-Executive Director, and shareholders will be advised of such appointment in due course.

The Board welcomes John and looks forward to his continued contribution to the Company.


Johannesburg
3 October 2016

Sponsor
Merchantec Capital

Date: 03/10/2016 05:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.