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WESCOAL HOLDINGS LIMITED - Changes to the board

Release Date: 27/09/2019 12:15
Code(s): WSL     PDF:  
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Changes to the board

Incorporated in the Republic of South Africa
(Registration number 2005/006913/06)
Share code: WSL
ISIN: ZAE000069639
(“Wescoal” or the “Company” or the “Group”)


Shareholders are referred to the notice of annual general meeting (“AGM”) forming part of the
annual financial statements of the Company, which was distributed to shareholders on 31 July
2019, and are advised as follows:

Ms Teresita van Gaalen and Mr Kosie Pansegrouw, independent non-executive directors of the
Company, who are scheduled to retire from the Board by rotation in terms of the Memorandum of
Incorporation of the Company on the date of the AGM, being 16 October 2019, have informed the
Company that they wish to withdraw their availability for re-election at the AGM and will retire
from the Board with effect from 16 October 2019.

Consequently, ordinary resolution number 1.1 and ordinary resolution number 2.2 and 2.3 of the
notice of AGM of the Company will be withdrawn and the aforementioned independent non-
executive directors will retire from the Board, the Audit and Risk Committee of the Board and the
Share Incentive Trust of the Company (as Trustees) with effect from 16 October 2019.

The Board wishes Ms Teresita van Gaalen (appointed 17 July 2009) and Mr Kosie Pansegrouw
(appointed 1 June 2005) well and thanks them for the unwavering and valuable service to the
Company. Both directors have each served the Company for a period longer than 10 years.

The Company has commenced the process to recruit new Board members, this will be concluded in
the next 8 weeks and further announcements regarding the reconstitution of the Board and its
Committees will follow in due course.

Jacques De Bie, Singular Systems
Tel: +27826915384

27 September 2019

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27/09/2019 12:15:00
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