Transcap - appointment of director

The King IV Report on Corporate Governance for South Africa 2016 (King IV) recommends that a lead independent director should be appointed. The lead independent director performs specific duties primarily aimed at strengthening the chair of the board of directors. These duties include inter alia overseeing the evaluation of the chair, being a sounding board for the chair, being an avenue of communication for the other directors on any issues relating to the chair, and chairing discussions and decision making where the chair has a conflict of interest.

In light of the above, and in accordance with the requirements of paragraph 3.59(c) of the JSE Limited Listings Requirements, shareholders are advised that Mr Kuben Pillay, currently an independent non-executive director, has been appointed as the Lead Independent Non-Executive Director with effect from 15 July 2019.

Mr Pillay has been a director of Transcap since August 2016 and currently serves as the Chairman of the Remuneration Committee and as a member of the Nominations Committee and Social and Ethics Committee.

2019-07-19 17:02:57