AVENG LIMITED - Appointment of Chief Executive Officer

Appointment of Chief Executive Officer

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The Board of Directors of Aveng today announced the appointment of Sean Flanagan as Chief
Executive Officer (CEO), with effect from 1 February 2019.

Eric Diack, who was appointed interim CEO on 26 September 2017, will remain Executive Chairman
for an envisaged six-month transition period, which will ensure an orderly hand-over. After this, Eric
will resume his role as Aveng’s Non-Executive Chairman.

Eric Diack commented, “We are delighted with Sean’s appointment. He has been an Independent
Non-Executive Board member since 1 November 2015, which makes this an ideal appointment as he
already has a detailed knowledge and thorough understanding of the Group. Sean has been
intimately involved in the various strategic initiatives that have been underway at Aveng over the
past year. He is, therefore, already up-to-speed with our strategic imperatives and will advance the
process without any delays.”

Sean has a Bachelor of Science (Building) degree. He has over 30 years of industry-specific
experience derived from contract and claims negotiation, project engineering, project and
construction management, implementing company strategies, leading mergers and acquisitions,
trouble shooting in underperforming projects and businesses, as well as full executive responsibility
for a large portfolio of businesses and major projects. He was previously with Murray & Roberts for
19 years in which time he occupied a range of operational, general management and executive
director board roles.

Sean Flanagan added, "I am excited and honoured to be moving into an executive role at Aveng.
Aveng is currently undergoing a reset and renovation programme to ensure the long-term
sustainability and viability of the Group, and I have been working at a non-executive level on this
transformation. I am pleased that I will now be able to advance the foundations of change that Eric
Diack and his team have successfully laid. This Group has a strong South African legacy and heritage,
which makes me proud to be leading the team on this journey. We are working toward
strengthening our position in the markets in which we operate to become a leading international
infrastructure and resources group.”

The Board, which will announce reconstituted committee members in due course, looks forward to
Sean’s continued contribution to the Aveng Group.


Jet Park
20 December 2018

JSE Sponsor
UBS South Africa Proprietary Limited

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