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CLOVER INDUSTRIES LIMITED - Appointment of independent non-executive directors

Release Date: 08/12/2017 12:00
Code(s): CLR     PDF:  
Wrap Text
Clover Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
NSX Ordinary Share code: CLN
ISIN No: ZAE000152377
('Clover')

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS


In accordance with paragraph 3.59 of the Listings Requirements of
the JSE Limited, shareholders are advised that Messrs James
Wellwood (Whitey) Basson and Morgan Flemming have been appointed
as Independent Non-Executive Directors to the Clover Board of
Directors ('the Board'), with effect from 1 January 2018. Mr James Wellwood (Whitey) Basson
Mr Basson holds a BCom CTA from the University of Stellenbosch and
received an honourable doctor degree in Commerce (DComm) honoris
causa from the Chancellor of Stellenbosch University. In 1970, he
qualified as Chartered Accountant after serving his articles with
Ernst & Young Chartered Accountants, at the time known as ER Syfret & Co.
Mr Basson has 45 years' experience in retail, having built the
Shoprite Group from a small 8-store business to the largest retail
chain in Africa, currently with a market capitalization in excess
of c. R135Bn. His vast experience in the retail sector will bring invaluable knowledge to the Board. Mr Morgan Flemming
Mr Flemming holds a M.A. (Hons) Degree from the University of
Edinburgh. He was previously a member of the Groupe Danone
Executive Committee and CEO of Nutricia, Danone's Medical
Nutrition Division. Mr Flemming has a wealth of experience in the
fast-moving consumer goods (FMCG) sector having held various
senior positions at British American Tobacco, the Coca-Cola Company and Groupe Danone. Chairman, Mr Werner Buchner commented:
'On behalf of the Board, I welcome Mr Basson and Mr Flemming to
the Board and look forward to them bringing fresh strategic
insights to our Board. I wish them well in executing their new responsibilities at Clover.' Johannesburg 8 December 2017 Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited) NSX Sponsor IJG SECURITIES
Date: 08/12/2017 12:00:00 Supplied by www.sharenet.co.za 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.

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