ASPEN PHARMACARE HOLDINGS LIMITED - Changes to The Board and its Committees

Changes to The Board and its Committees

ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) (“Aspen Holdings” or “the Company”)
Registration number: 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
and its subsidiaries (collectively “Aspen” or “the Group”)

CHANGES TO THE BOARD AND ITS COMMITTEES – APPOINTMENT OF THEMBA MKHWANAZI
AND BEN KRUGER AS INDEPENDENT NON-EXECUTIVE DIRECTORS AND RETIREMENT OF ROY
ANDERSEN

In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the Aspen
Board of Directors (“the Board”) is pleased to announce the appointment of Messrs Themba
Mkhwanazi and Ben Kruger as directors to the Aspen Holdings board of directors (“Board”) with
effect from 1 April 2019, with Mr Mkhwanazi also serving as a member of the Remuneration &
Nomination Committee and Mr Kruger also serving as a member of the Audit & Risk Committee
from that date.

Themba was appointed as the Chief Executive Officer of Kumba Iron Ore Limited, a member of
the Anglo American Plc Group, in September 2016. Prior to this appointment, he held several
senior executive positions at various companies, including: Anglo American Coal South Africa
(Chief Executive Officer), Rio Tinto Technology and Innovation (Regional General Manager –
Americas), Rio Tinto Australia (General Manager – Expansion Support), Richards Bay Minerals
(Chief Operating Officer) and Huntsman Tioxide Southern Africa (Managing Director). Themba
holds a B.Eng (Hons) in Chemical Engineering from the University of Teesside, Middlesbrough
(UK).

Ben joined Standard Corporate and Merchant Bank in 1985 and, after having fulfilled various
leadership roles in corporate and investment banking, was appointed as Chief Executive in
2001. In March 2013, Ben was appointed as Co-Chief Executive Officer of the Standard Bank
Group Limited, a position he retired from on 31 December 2018. He currently serves as a non-
executive director on the board of ICBC Standard Bank Plc and Stanbic IBTC Holdings Plc and as
an independent non-executive director on the board of JSE Limited. He is a member of the
Institute of Directors of Southern Africa and served on the board of the International Institute
of Finance. Ben is a Chartered Accountant (SA) and has completed the Advanced Programme in
Management at Harvard Business School.

Mr Roy Andersen has confirmed that he will, due to tenure considerations, retire from the
Board with effect from 30 September 2019. The Board wishes to express its sincere
appreciation for Mr Andersen’s dedicated service to Aspen as Lead Independent Director,
chairman of its Remuneration & Nomination Committee and member of its Audit & Risk
Committee, roles he has performed with diligence and distinction since 2008.
Referring to the change in directors, Aspen Holdings Chairman, Mr Kuseni Dlamini, said, "The
Board wishes to express its deep gratitude to Roy, who has made an immense and lasting
contribution to the Aspen Group over the last 11 years. While the Board is sad to bid farewell
to Roy on 30 September 2019, we are delighted to welcome Themba and Ben to the Board
from 1 April 2019. Themba and Ben are astute businessmen and highly regarded leaders in,
respectively, the mining and banking industries. In addition to this significant leadership
experience, they bring in-depth business, financial, funding, technical and governance
knowledge to the Board. We look forward to their contributions to the Group and wish them
every success in the roles they have been appointed to."

Woodmead
7 March 2019


Sponsor
Investec Bank Limited

Date: 07/03/2019 11:00:00 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.