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SABVEST LIMITED - Changes to the board and its committees

Release Date: 24/10/2017 12:30
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Changes to the board and its committees

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
ISIN: ZAE000006417 SBV Ordinary shares
ISIN: ZAE000012043 SVN N Ordinary shares
(“Sabvest” or “the Company”)


CHANGES TO THE BOARD AND ITS COMMITTEES


Shareholders are advised that Philip Coutts-Trotter (Philip) and Carl
Coutts-Trotter (Carl) will resign as directors of the Company with effect
from 31 October 2017.


Philip stepped down as Chairman of Sabvest earlier this year but continued
in office as a director. He has also relinquished his executive
responsibilities at S A Bias Industries (Pty) Limited (S A Bias Industries) -
Sabvest’s largest investee company - but continues in the role of Non-
Executive Chairman of S A Bias. In line with the reduction in his business
commitments it has been agreed that Philip will retire from the Sabvest
board this month.


Carl’s role as Chief Executive Officer of the S A Bias Group, an
international Group with operations in 12 countries, currently requires his
full time attention, particularly now that Philip is no longer serving in an
executive capacity. It has accordingly been agreed that Carl will also step
off the Sabvest board this month and focus solely on his S A Bias
Industries responsibilities.


Both Philip and Carl have been extremely valuable board members for
many years and we thank them very sincerely for their participation and
support. The relationship may have changed in form but will continue to be
close and interactive through S A Bias Industries in the future.
The Sabvest board will comprise five directors – two executive and three
independent non-executive. The board committees will be reconstituted as
follows:


Audit & Risk Committee

Nigel Hughes (independent non-executive Chairman)

Dawn Mokhobo (independent non-executive)

Bheki Shongwe (independent non-executive)


Remuneration Committee

Bheki Shongwe (independent non-executive Chairman)

Nigel Hughes (independent non-executive)

Dawn Mokhobo (independent non-executive)


Nominations Committee

Dawn Mokhobo (independent non-executive Chairman)

Nigel Hughes (independent non-executive)

Bheki Shongwe (independent non-executive)


Sandton
24 October 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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