Phumelela - resignation of CEO
The board of directors hereby notifies its shareholders that Mr Rian du Plessis has tendered his resignation as CEO of Phumelela Gaming and Leisure Ltd. (˘the Company÷) for personal reasons, effective from 17 September 2018. Rian has committed to assist his successor until the end of March 2019 to ensure a smooth transition.
Rian has full confidence in the CompanyĂs executive management team, underlying business fundamentals and strategic direction and has undertaken not to dispose of any Phumelela shares held directly or indirectly by him, his family or otherwise in the foreseeable future.
The board advises that Mr John Stuart, the current executive director: International Operations, has been appointed to fulfil the role as CEO.
With more than 39 years of experience in the horse racing and gaming industry, the board welcomes JohnĂs increased participation in the business and looks forward to his ongoing contribution.
The CompanyĂs financial results announcement scheduled for 5 October 2018 will be delivered by the new CEO.