Changes to the Board of Directors
ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX” or the “Company” or “the Group”)
CHANGES TO THE BOARD OF DIRECTORS
Further to the announcement released 15 July 2019 regarding the divestment of the EFML business,
resulting in a much smaller business necessitating some rationalization and in compliance with paragraph
3.59 of the JSE Limited Listings Requirements, shareholders are advised of the following changes to the
board of directors (“Board”) of enX:
Early retirement of Chief Executive Officer
Steven Joffe has notified the Board of his intention to take early retirement as enX’s Chief Executive
Officer (“CEO”) and executive director. Steven will step-down as director and CEO with immediate effect.
Appointment of acting CEO
The Board would like to advise shareholders that Gary Neubert has been appointed acting CEO, effective
immediately. Gary had been the divisional CEO of the material handling business for the past 13 years
and has proven himself to be a well-respected leader. This business has showed growth in size and
performance under his leadership. Gary has a strong management team allowing him sufficient capacity
to also act as Group CEO.
Appointment of independent non-executive director and Chair of the audit and risk committee
Following the announcement on 2 July 2019 regarding the resignation of Miss N Lila, the board is pleased
to announce the appointment of Babalwa Ngonyama as independent non-executive director and Chair of
the audit and risk committee, effective 19 July 2019. She is the CEO of Sinayo Securities (Pty) Ltd, a
women owned and managed business and the former Chief Financial Officer of Safika Holdings (Pty) Ltd.
Previously she was the Group Chief Internal Auditor of Nedbank Limited. Babalwa is a Chartered
Accountant with an MBA and an astute leader with highly regarded business acumen. She sits on the
board and audit committee of Aspen Limited, Hollard Life and Insurance, Vukile Property Fund Limited as
well as Clover Limited. Babalwa is a lead independent director of Implats Limited.
The Board welcomes both Gary and Babalwa to the Board. The Board thanks Steven for his contribution
and wishes him well in respect of his future endeavours.
19 July 2019
The Standard Bank of South Africa Limited
Date: 19/07/2019 04:40:00
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