VUNANI LIMITED - Changes to the board of directors and management structure at Vunani Limited

Changes to the board of directors and management structure at Vunani Limited

VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000163382
("Vunani" or "the company")


CHANGES TO THE BOARD OF DIRECTORS AND MANAGEMENT STRUCTURE AT VUNANI
LIMITED

Shareholders are advised by the Board of Directors of Vunani (the “Board”) that with effect
from 1 April 2020, it will align its executive management structure with its business growth
and succession plans as follows;

Ethan Dube will step aside from his position as Chief Executive Officer (“CEO”) of the company
in order to take up his new position as Deputy Chairman (Executive) to focus his efforts on
managing the Private Equity and non-financial services of the business, together with Mark
Anderson, an Executive Director of the company and Vunani Capital.

Butana Khoza will succeed Ethan, as CEO of Vunani. Ethan and Butana have worked together
since they established Vunani and it had always been the plan that Butana would succeed to
the CEO position in time. Butana held the CEO position for Vunani Fund Managers (“VFM”)
for five years and his designated successor, Ms Snowy Masakale, took on the VFM leadership
role effective 2 March 2020, as announced in September 2019.

This management realignment better positions Vunani to effectively manage both the
financial services, as well as the non-financial services, of the business in a clearly delineated
leadership and distinct business structure.

Vunani Chairman, Mr Lionel Jacobs said: “The board is confident that these transitions will
improve and focus operations and service levels of the company’s short to medium term
strategic goals. Indeed, we believe they optimize the business structure to progress our
plans and execution for our clients and partners.”

For more information and background on Vunani’s management, please refer to the
company website hosted at: www.vunanilimited.co.za

Sandton
24 March 2020

Sponsor
Grindrod Bank Limited

IR Advisor
Singular IR

Date: 24-03-2020 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.