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AFRICAN PHOENIX INVESTMENTS LIMITED - Changes to the Board of Directors

Release Date: 12/06/2019 17:00
Code(s): AXL AXLP     PDF:  
 
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Changes to the Board of Directors

AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL       ISIN: ZAE000221370
Hybrid instrument code: AXLP      ISIN: ZAE000221388
(“Phoenix” or “the Company”)


CHANGES TO THE BOARD OF DIRECTORS


In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors
of Phoenix (“the Board”) hereby notifies its shareholders of the following changes to the Board with
effect from 11 June 2019:

-   Appointment of Director:

    Mr Alton Solomons (“Alton”) has been appointed as an independent non-executive director.

    Alton has over 18 (eighteen) years’ post articles experience in the investments industry, primarily
    in Private Equity. Alton is currently a non-executive director at Ademia Capital Proprietary Limited,
    Coidlink Proprietary Limited and Play Africa Group NOC.

    For the 7 (seven) years prior to January 2019 Alton served as the Chief Executive Officer (“CEO”)
    of Sanlam Private Equity (“SPE”). He joined SPE as an Investment Principal in May 2005 and was
    promoted to Partner in January 2008. In his roles as Principal, Partner and CEO, Alton’s
    responsibilities covered all aspects of the investment cycle including origination, structuring,
    valuations, maintenance and investment exits. His experience on concluding investment
    transactions covers all industries, sectors and investment sizes. Alton received the Black Business
    Executive Council Kaelo Award in 2014. His role as CEO also included attracting and managing
    senior investment staff performance and development as well as reporting on the business unit’s
    performance to key stakeholders.

    Prior to joining SPE, Alton spent 3 (three) years at the Industrial Development Corporation (“IDC”).
    He is a Chartered Accountant by profession and completed his articles with
    PricewaterhouseCoopers. Alton is also a CFA Charterholder from the CFA Institute in the USA.

-   Appointment of Director:

    Mr Monde Nkosi (“Monde”) has been appointed as a non-executive director.

    Monde is an Investment Professional at Value Capital Partners (“VCP”) and a non-executive
    director of Adcorp Holdings Limited. Prior to joining VCP, he was a Senior Associate on the
    investment team of FFL Partners, a San Francisco-based private equity firm managing more than
    USD2 billion.

    Monde holds a Bachelor of Business Science (Finance Honours) from the University of Cape Town
    as well as a Master of Arts and Master of Business Administration from Stanford University in the
    USA.

    The Board welcomes Alton and Monde and looks forward to their contributions to the Company.

-   Resignation of Director:

    Mr Samuel Sithole (“Sam”) has resigned as a non-executive director of the Board.
    The Board thanks Sam for his contributions to the Company and wishes him well in his future
    endeavours.


Audit and Risk Committee Composition

The Board would also like to confirm the appointment of Thiru Pather and Alton Solomons (both
independent non-executive directors) as members of the Audit and Risk Committee. Reshma Mathura
remains the chairperson of this committee. Following her appointment as the chairperson of the Board,
Alethea Conrad resigns as a member of the Audit and Risk Committee.


Johannesburg
12 June 2019

Sponsor
Merchantec Capital

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