ALVIVA HOLDINGS LIMITED - Resignation and appointment of new chairperson

Resignation and appointment of new chairperson

Alviva Holdings Limited
(Formerly Pinnacle Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “The Company” or “the Group”)


RESIGNATION AND APPOINTMENT OF NEW CHAIRPERSON


In the SENS announcement dated 6 September 2017, Mr Arnold Fourie’s intention to resign as Non-
executive Chairperson and member of the Alviva board of directors (“the Board”) was highlighted to
shareholders. After identifying a suitable successor, he has announced his resignation with immediate
effect. The Board is pleased to announce that Ashley (Oshy) Tugendhaft, the current Deputy
Chairperson, has been appointed as the new Non-Executive Chairperson of Alviva. Oshy has had a
long-standing association with the Company having served the board in various capacities including
Non-Executive Director, Deputy Chairperson and member of the Remuneration Committee (“Remco”).


It is Arnold’s view that the succession planning process that started two years ago has now been
successfully implemented and that the current management team and Board are capable of taking the
Alviva group to new heights.


Following his resignation from the Board, Arnold also steps down from the Remco. The Remco remains
properly constituted comprising three independent Non-Executive Directors and one Non-Executive
Director. The composition of the board and other committees remain compliant following the changes.


‘’The Board expresses its sincere appreciation to Arnold, the Group’s founder, former Chief Executive
Officer and Non-Executive Chairperson for his role in establishing the Group and positioning it as a
leader in the ICT Sector and wishes him well with his future endeavours.”




Midrand
3 October 2017


Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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