AFRICAN RAINBOW MINERALS LIMITED - Changes to the ARM Board of Directors and to the composition of an ARM Board Committee

Changes to the ARM Board of Directors and to the composition of an ARM Board Committee

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or the “Company”)

CHANGES TO THE ARM BOARD OF DIRECTORS AND TO THE
COMPOSITION OF AN ARM BOARD COMMITTEE

In terms of paragraph 3.59 of the Listings Requirements
of the JSE Limited (the “Listings Requirements”)
notification is hereby given of the following changes
to the ARM Board of Directors (the “Board”) and to the
composition of an ARM Board committee:

1. Appointment of Ms Tsundzukani Mhlanga as Finance
Director of ARM

As announced by ARM on 31 March 2020, Ms Abigail
Mukhuba has stepped down from the Board effective from
30 September 2020, being her last day as ARM Finance
Director.

The Board undertook a process to identify a permanent
successor for Ms Mukhuba and is pleased to announce the
decision to appoint Ms Tsundzukani Mhlanga, the current
Chief Finance Officer, as the new ARM Finance Director,
with effect from and including 1 October 2020 until her
appointment is approved by the shareholders at the next
annual general meeting of the Company.

2. Appointment of Ms Pitsi Mnisi as a Non-executive
Director of ARM

The Board is pleased to announce the decision to
appoint Ms Pitsi Mnisi as a Non-executive Director of
the Company with effect from and including 30 September
2020, until her appointment is approved by the
shareholders at the next annual general meeting of the
Company.

3. Dr Manana Bakane-Tuoane steps down as a Non-
executive Director of ARM

Dr Manana Bakane-Tuoane, an Independent Non-executive
Director of ARM, has stepped down from the Board with
effect from 29 September 2020.

The Executive Chairman of ARM, Dr Patrice Motsepe,
said:

“I would like to express my gratitude to Abigail
Mukhuba for the very good work she did as Finance
Director of the Company. We wish her everything of the
best in her new job at Sanlam. I also want to welcome
Tsundzukani Mhlanga as the incoming Finance Director.
She previously worked in the mining industry and her
skills and expertise will stand her in good stead in
her new role at ARM. We are pleased that Derrick King
will continue as Senior Executive Finance and I want to
thank him for his continued commitment to ARM. We also
welcome Pitsi Mnisi to the Board as a new Non-executive
Director. Pitsi has over 15 years’ experience in the
corporate finance and mining industries. Finally, I am
grateful   to   Dr   Manana   Bakane-Tuoane   for   her
contributions to the ARM Board over many years and wish
her everything of the best.”

4. Change to the composition of the ARM Investment
Committee

Mr Tom Boardman, an Independent Non-Executive Director
of ARM, has been appointed by the Board as a member of
the Investment Committee.

For more information, please contact:

Jongisa Magagula
Executive Director: Investor Relations and New Business
Development
Office: +27 11 779 1507
Email: jongisa.magagula@arm.co.za

Sandton
29 September 2020
Sponsor: Investec Bank Limited

Date: 29-09-2020 03:17:00
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