TORRE INDUSTRIES LIMITED - Change to the board

Release Date: 15/03/2019 09:00
Code(s): TOR
 
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Change to the board

TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR     ISIN: ZAE000188629
(“Torre Industries” or “the Company”)

CHANGE TO THE BOARD

In compliance with paragraph 3.59 of the JSE Limited Listings
Requirements, shareholders are advised that Mr Shivan Mansingh
has informed the Board of his intention to resign as an employee
and Chief Financial Officer (“CFO”) of Torre Industries,
effective 31 March 2019. Shivan’s resignation is in anticipation
of the termination of the listing of the Company on the JSE, the
details of which were announced on SENS on 21 December 2018 and
12 February 2019. The effective date of the scheme of arrangement
and delisting is subject to the fulfilment of outstanding
regulatory conditions precedent.

Shivan will, however, and to the extent required, remain a member
of the Torre Industries Board as a non-executive director until
the Scheme and Delisting have become unconditional in all
respects, in order to fulfil his obligations in terms of
regulation 108 of the Companies Regulations, 2011, promulgated
under the Companies Act, No. 71 of 2008.

Details of the appointment of a new interim CFO will be announced
in due course in the event that the scheme of arrangement has
not become unconditional by 31 March 2019.

The Board thanks Shivan for his contribution to Torre Industries
as Chief Financial Officer and wishes him all the best in his
future endeavours.

Johannesburg
15 March 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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