CARGO CARRIERS LIMITED - Appointment of independent non executive directors

Appointment of independent non executive directors

CARGO CARRIERS LIMITED
(Registration Number 1959/003254/06)
Share code: CRG
ISIN: ZAE000001764
("Cargo Carriers" or "the Company")


APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS


In compliance with section 3.59 of the Listings Requirements of the Johannesburg
Stock Exchange, Cargo Carriers is pleased to announce the appointment of the three
new independent non-executive directors to the Board of Directors, as detailed
below:

Mr Sithembiso Freeman Nomvalo (Bcompt (Hons.)
Sithembiso has held various strategic financial and management roles including that
of Chief Executive Officer of the State Information Technology Agency and Deputy
Director-General: Accountant-General of South Africa.

In 2015, he formed his own consultancy practice to focus on leadership
development, coaching, consulting and corporate governance in order to assist
organisations to build cohesive teams and to drive sustainable strategic change.

Ms Amanda Gcabashe (B.Com, Certificate in Accountancy)
Amanda completed her auditing articles at Gobodo Incorporated (Sizwe Ntsaluba
Gobodo) in 2001 before moving into the corporate advisory and consulting fields.

In 2011, Amanda was appointed at the South African Bureau of Standards (“SABS”)
as a specialist in Traditional Medicine in order to establish a business unit focused on
Indigenous Knowledge Systems and in September 2016 she was appointed as Co-
Executive (Testing and Inspection Division), where she is responsible for improving
the operational efficiencies and profitability of the Testing Division .

Ms Ndumi Medupe (CA(SA))
Ndumi has vast experience in Governance, Risk, Compliance, and Consulting. Having
completed her articles at Deloitte & Touché, she held various Financial Management
and Business Analyst positions at Vodacom and MTN respectively, wherafter she was
appointed as Director: Financial Planning and Budgeting at the Gauteng Department
of Finance. In 2007, Ndumi established Indyebo Consulting, a professional auditing,
accounting and business consulting company providing assurance, advisory and
consulting services to the public and private sectors.

Sithembiso and Amanda’s appointments will be with effect from 30 March 2017,
whilst Ndumi’s appointment will be with effect from 5 May 2017.

Cargo Carries welcomes these new appointments to the Board and looks forward to
benefitting from their shared knowledge and experience.

Johannesburg
17 March 2017

Sponsor
Arbor Capital Sponsors Proprietary Limited

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