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Changes to the Board of Directors
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/027663/06)
Share code: CGR ISIN: ZAE000109203
(“Calgro M3” or “the Company”)
CHANGES TO THE BOARD OF DIRECTORS
Calgro M3 wishes to announce, in line with its succession plan, the following changes to the
Company’s board of directors:
Mr Ben Pierre Malherbe will step down as Chief Executive Officer of the Company on 28 February
2017 and will be appointed as a Non-executive Director with effect 1 March 2017.
Mr Willem (Wikus) Jakobus Lategan has been appointed by the Board to replace Mr Malherbe as
Chief Executive Officer with effect from 1 March 2017. Mr Lategan was appointed Financial Director
in August 2008, and was promoted to Managing Director on 1 June 2015. The position of Managing
Director was created as part of the succession plan and will now fall away.
Mr Manda Nkuhlu will join the board as an Executive Director of the Company with effect from 1
March 2017. Mr Nkuhlu joined the Company on 1 September 2014 with extensive knowledge and
experience in the residential property development sector. He was appointed as a member of the
Company’s executive committee on 1 May 2015, as part of the succession plan.
The above moves are part of our carefully crafted succession trajectory.
Mr Malherbe is one of the founding members of Calgro M3 and was appointed as Chief Operations
Officer in November 2007. He was promoted to the position of Chief Executive Officer on 1 February
2009. The Company is delighted to be retaining Mr Malherbe’s experience, know-how and expertise
as a Non-executive Director.
Mr Malherbe has served the Company with dedication and distinction and has overseen the
transformation of the Company from a minor listed participant in the Construction Sector on, firstly
the AltX, and then the main board of the JSE Limited. He was responsible for the Company’s venture
into the Integrated Development Sector of the residential market and under his guidance, Calgro M3
has become the market leader in the South African residential housing sector, and as such his
contribution to the success and continued growth of the Company has been immense.
The Board would like to thank Mr Malherbe for his valued commitment and contribution during his
tenure as an Executive Director and Chief Executive Officer, and look forward to his ongoing support
and input in future.
The Board would like to congratulate Messrs Lategan and Nkuhlu with their appointment as Chief
Executive Officer and Executive Director respectively, and wishes them luck in their new roles and
the challenges which those roles will bring.
Johannesburg
17 October 2016
Sponsor
Grindrod Bank Limited
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