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PEPKOR HOLDINGS LIMITED - Chairman Of Pepkor

Release Date: 18/11/2020 17:15
Code(s): PPH PEP02 PEP01     PDF:  
Wrap Text
Chairman Of Pepkor

PEPKOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: PPH
Debt Code: PPHI
ISIN: ZAE000259479
(“Pepkor” or “the Company”)

CHAIRMAN OF PEPKOR

In accordance with paragraph 3.59(c) of the JSE Limited Listings Requirements, the board
of directors of the Company (“the Board”) wishes to advise shareholders that the current
Chairman of Pepkor, Mr. Jayendra Naidoo, who has been in office since August 2017, has
advised the Board that he will not make himself available for re-election as Chairman when
his term ends on 30 November 2020.

The Company’s Chief Executive Officer, Mr. Leon Lourens, said “Jayendra has led the Board
since the Company's listing in 2017 and has played a central role in enabling the Company
to navigate a challenging period, commencing with listing in 2017, managing the implications
for Pepkor arising from the Steinhoff crisis, and lately managing the prolonged impact of the
COVID-19 pandemic. The Company has emerged in a much stronger position and the Board
thanks Jayendra for his service and wise leadership during his tenure as Chairman. We look
forward to his continued contribution as a non-executive director of the Board.”

Mr. Naidoo commented that “Given the positive progress and stability of Pepkor, and other
considerations, amongst others, the current state of litigation involving Pepkor’s major
shareholder and a company related to myself, I believe it is appropriate for the next term of
three years that the Company is led by an independent Chairman.”

A process is underway for the Board to appoint a new Chairman. Shareholders will be kept
advised of developments.

Parow
18 November 2020

Equity Sponsor
PSG Capital

Debt Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)

Date: 18-11-2020 05:15:00
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