ADCORP HOLDINGS LIMITED - Appointment of independent non-executive directors and resignation of a Director

Release Date: 06/09/2018 14:12
Code(s): ADR
Wrap Text
Appointment of independent non-executive directors and resignation of a Director

Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139


In compliance with the Listings Requirements of the JSE Limited, shareholders are advised that
Mr Herman Singh and Dr Phumla Mnganga have been appointed as independent non-executive
directors of Adcorp. Mr Singh is appointed as a member of Adcorp’s Audit and Risk Committee
as well as the Investment Committee. Dr Mnganga is appointed as a member of Adcorp’s
Transformation, Social and Ethics Committee as well as the Investment Committee. All the above
appointments are effective from 6 September 2018.

In addition, Mr Mark Jurgens has resigned as a director of Adcorp with effect from 6 September
2018. Mr Jurgens will remain in the employ of Adcorp in his role of heading up Adcorp’s Australian

Mr Singh is an Engineer who has focused his career on the convergence of Technology and
Business. His BSc. In Mechanical Engineering, GDE in Industrial Engineering and MBA were all
granted at Wits University. He was a GM and Director at Barloworld subsidiary Alstom in 1989,
MD of Siemens Industry in 1996, Director of eCommerce at Standard Bank in 2000, Managing
Executive of mCommerce at Vodacom in 2013 and group chief digital officer at MTN in 2015. He
is currently deputy chairman of Jumia ( Africa’s largest ecommerce company), chairman of aYo
Insurance (a joint venture with MTN and MMI), on the advisory board of MEIG and IIG the two
largest ecommerce players in the Middle East as well as a non-executive director of MTN Ivory
Coast and MTN Cameroon.

Dr Mnganga obtained her doctorate from Wits Business School and her MBL from Unisa. She is
the founder and Managing Director of Lehumo Women’s Investment Holdings, a women owned
and managed investment holding company. Prior to this she was employed as an
HRD/transformation executive for the Tongaat Hulett Group, and previously as a change
management senior consultant at Deloitte. Dr Mnganga was the Chairperson of the University of
Kwazulu Natal and the past Chairperson of the Siyazisiza Trust, a large rural community trust that
benefits rural women and vulnerable families. She currently serves as an independent non-
executive director on the Boards of Directors of the Spar Group, Crookes Brothers Limited and
Gold Circle.

The Board welcomes Mr Singh and Dr Mnganga and looks forward to their contribution to the
6 September 2018

Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

Date: 06/09/2018 02:12:00 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.

Email this JSE Sens Item to a Friend.

Share This Story