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COMAIR LIMITED - Appointment of Directors

Release Date: 29/05/2019 15:20
Code(s): COM     PDF:  
 
Wrap Text
Appointment of Directors

Comair Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1967/006783/06)
ISIN: ZAE00002983
Share Code: COM
(“Comair” or “the Company”)

APPOINTMENT OF DIRECTORS

In accordance with paragraph 3.59(b) of the JSE Limited Listings Requirements, the board
of directors of the Company (“the Board”) is pleased to advise shareholders that Mr Glen
Orsmond and Ms Wrenelle Stander have been appointed as joint CEO’s of the Company with
effect from 31 July 2019. In terms of the appointments, Ms Stander will be responsible for
looking after the airline business of the Company and Mr Orsmond will be responsible for
looking after the non-airline business and financial services. Ms Stander is an executive
director of Comair, while Mr Orsmond, who previously served as the Company’s financial
director during the period 1995 to 2013, has been appointed an executive director of the
Company effective 31 July 2019

Mr. Erik Venter will remain in the role of CEO of the Company until 31 July 2019 during which
time he will facilitate a hand-over process to Mr Orsmond and Ms Stander in their new roles
and responsibilities.

Over the last 25 years Ms Stander has served across the private, public and NGO sectors of
the economy. Ms Stander has held the positions of Deputy Chief Executive Officer of the
South African Civil Aviation Authority, Manging Director of the of the Air Traffic and Navigation
Service Company, Managing Director of Sasol Gas and Senior Vice President of Public
Affairs of Sasol. She is currently an executive director of Company and heads up the
Company’s airline business. She holds a BA (Hons) degree from the University of Cape Town
and an MBA from Oxford Brookes University in the United Kingdom

Mr Orsmond has over 25 years of experience in an executive capacity in the airline industry,
during which period he was involved in developing and implementing business strategies
around the key elements of airline costs, revenue, flight operations, technical services, cash
generation, branding, sales, distribution and customer service. He has also served as
financial director and CEO of 2 (two) JSE listed entities, namely the Company and 1Time
Airlines Limited. Mr Orsmond holds a B Com, CA (SA) degree and a post graduate diploma
in accounting, and is a qualified chartered accountant

The Board congratulates Ms Stander and Mr Orsmond on their appointment and looks
forward to their contribution to the Company going forward.

Bonaero Park
29 May 2019

Sponsor
PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED (“COMAIR”) SHOULD
NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH
AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERNSHIP RESTRICTION CONTAINED IN
SECTIONS 16 (4) ( c ) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING
RIGHTS OF SHAREHOLDERS MAY BE DECREASAED PROPORTIONATELY SUCH THAT THE VOTING
RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN
SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO COMAIR’S MEMORANDUM OF
INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAIL. IF FOREIGN
SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUNT AS TO WHAT ACTION TO TAKE
THEY SHOULD SEE ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.

Date: 29/05/2019 03:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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