AFRICAN PHOENIX INVESTMENTS LIMITED - Appointment of Non-Executive Directors

Appointment of Non-Executive Directors

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


APPOINTMENT OF NON-EXECUTIVE DIRECTORS


In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors
of African Phoenix (“the Board”) hereby notifies its shareholders that with effect from
18 February 2020:

o   Mr Raisaka Ronald Masebelanga (“Raisaka”) has been appointed as an independent non-
    executive director and member of the Audit and Risk Committee.

    Raisaka, who holds a B. Juris, LLB and LLM, is an Executive Director of Village Main Reef Limited,
    an investment company engaged in mining and resource operations with interests predominately
    in gold and other commodities. He has vast legal and corporate experience, having held a number
    of influential positions at De Beers over many years and previous directorships at, inter alia, the
    Diamond Development Company and Omnia Holdings Limited.

o   Ms Lungile Ngakane (“Lungile”) has been appointed as an independent non-executive director
    and member of the Audit and Risk Committee.

    Lungile, who holds a Bachelor of Law (Honours) and an LLB, is the Chief Legal and Compliance
    Officer of AII5 Holding Proprietary Limited, an Africa-focused diversified investment and advisory
    company. After starting and managing her own legal practice, Lungile went on to assume the role
    of senior legal advisor and company secretary of Built Environment Africa Capital Holdings
    Proprietary Limited (“BuiltAfrica”) where she was responsible for ensuring compliance with all
    regulatory and statutory requirements. Whilst at BuiltAfrica, she was appointed as a non-executive
    director on the boards of multiple companies in which BuiltAfrica was an investor.

The Board welcomes Raisaka and Lungile and looks forward to their contributions to the Company.


Johannesburg
18 February 2020

Sponsor
Merchantec Capital

Date: 18-02-2020 01:00:00
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