SABVEST LIMITED - Retirement of director and changes to Sabvest Board committees

Retirement of director and changes to Sabvest Board committees

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
Ordinary share code: SBV and ISIN: ZAE000006417
N Ordinary share code: SVN and ISIN: ZAE000012043
(“Sabvest”)

RETIREMENT OF DIRECTOR AND CHANGES TO SABVEST BOARD COMMITTEES

Shareholders are advised that Mr Nigel Hughes has given notice of his wish to retire from the Board
effective 31 December 2019.

Nigel has been a director since the listing of Sabvest in 1988 and is currently a member of all four board
committees, Chair of the Audit and Risk Committee (“Auditcom”), Chair of the Social and Ethics
Committee (“SECom”) and Lead Independent Director.

Nigel has been an excellent and very valuable non-executive director and retained strong independent
views notwithstanding his length of tenure. The Board thanks him very sincerely for his services to and
support of Sabvest over this lengthy period.

Ms Lindiwe Mthimunye-Bakoro (46) M.Com, H. Dip Tax Law, CA (SA), an existing Auditcom member, will
take over as Chair of the Auditcom. Mr Bheki Shongwe (64) BA (Econ,) MBA, ACIS, FCIBM will take over as
Chair of the SECom and will be appointed Lead Independent Director. All four committees comprise of
three independent directors each and are accordingly properly constituted. The Board will comprise of
three executive and three independent non-executive directors. At least one additional independent non-
executive director will therefore be appointed shortly.

Sandton
20 November 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 20/11/2019 03:14:00
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