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PSV HOLDINGS LIMITED - Changes to the Board of Directors Change in Function and Appointment of Directors

Release Date: 06/09/2019 17:10
Code(s): PSV     PDF:  
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Changes to the Board of Directors – Change in Function and Appointment of Directors

PSV Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/004365/06)
Share code: PSV ISIN: ZAE000078705
("PSV" or “the Company”)


Further to the change to the board of directors announcement dated 16 August 2019 and in compliance
with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of PSV (“the Board”)
hereby notifies its shareholders of the following changes to the Board with effect from 5 September 2019:

-    Mr Aldworth Mbalati (“Aldworth”), currently an executive director, has been appointed as the executive
     chairman of the Board.

-    Mr Basil Kgaugelo Mashabane (“Basil”) has been appointed as lead independent non-executive

     Basil is an Admitted Attorney (High Court of South Africa, 2003) holding an LLB from the University of
     Pretoria and an MSc in Finance and Financial Law from the University of London. In addition to this
     he obtained an LLM in Corporate Law and an Advanced Certificate in Corporate and Securities Law
     from Unisa and is currently an LLD Candidate in Mercantile Law at Unisa. He has 15 years’ experience
     in litigation and corporate law with 8 of those years spent as Legal Counsel and more recently as the
     Deputy Executive Director of the Takeover Regulation Panel.

-    Mr Olivier Bernard (“Olivier”) has been appointed as a non-executive director.

     Olivier studied Business and Finance in Neoma (previously known as Reims Management School) in
     France, and a few years later studied Management at INSEAD. He gained experience with Blue Chip
     companies within the Oilfield Service Industry in various countries within Europe and Africa. From 2000
     until 2016 he was a key member of the team developing the biggest onshore support base in sub
     Saharan Africa, based in Luanda (Angola), with a total investment of USD 1 billion. During this time,
     he assumed various positions, negotiating financing with international banks, implementing SAP (a
     German-based multinational software corporation that makes enterprise software to manage business
     operations and customer relations), and ultimately in the General Management of the company. He
     moved to Regis in 2017 to become the group COO.

The Board welcomes Basil and Olivier and looks forward to their contribution to the Company.

The reconstituted Board will advise on further appointments in order to fill committee vacancies and
statutory requirements.

6 September 2019

Designated Adviser
Merchantec Capital

Date: 06/09/2019 05:10:00
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