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PEMBURY LIFESTYLE GROUP LIMITED - Changes to the Board Appointment of Director and Change in Function of Director

Release Date: 20/04/2021 10:47
Code(s): PEM     PDF:  
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Changes to the Board – Appointment of Director and Change in Function of Director

PEMBURY LIFESTYLE GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 2013/205899/06)
Share code: PEM    ISIN: ZAE000222949
(“Pembury” or “the Company”)


CHANGES TO THE BOARD – APPOINTMENT OF DIRECTOR AND CHANGE IN FUNCTION OF
DIRECTOR


Appointment of new director

In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of
Pembury (“the Board”) hereby notifies its shareholders that Mr Gugu Nxiweni (“Gugu”) has been appointed
as an independent non-executive director with effect from 15 April 2021. He will also take up the role as the
Chairman of the Audit and Risk Committee.

Gugu has a BComm; BComm (Hons); Post Graduate Certificate in Advanced Auditing and is a Chartered
Accountant (SA). Gugu qualified as a Chartered Accountant after serving his articles at KPMG, Port
Elizabeth, where he was a Partner and was primarily responsible for both the Eastern Cape Management
Consulting practice as well as being the National Lead Partner for Rural Development sector. He was the
driving member of the core team responsible for driving KPMG involvement and response to the National
Development Plan and served as a Lead Partner on various client accounts.

With over 15 years of professional experience, Gugu has acquired significant expert and working
knowledge in Leadership, Governance, Policy, Transaction Advisory, Business Processes, Financial
Modelling and Management, Strategy Development and Implementation, and Public Sector Markets, to
name a few. He is currently the Executive Chairman of the Improvate Group, a position he has held since
2014.

Gugu also holds positions on various boards and sub-committees, including the Nelson Mandela Bay
Business Chamber (Deputy Chair of the Finance Committee), the Nelson Mandela University Investment
Proprietary Limited (Chair the Audit and Risk Committee), the BMF Investments Company Limited and the
Human Settlement Action Group, an NGO that supports and empowers communities in human settlement
related issues within Nelson Mandela Bay. Until recently, Gugu was a board member of SA Super Rugby
Proprietary Limited, an Advisory Committee member of the Impakt Fund’s Investment Advisory Committee
for the Impakt Exelator, a S12J Fund based in Johannesburg and the Black Management Forum, where he
also served as the Chairman of their Audit and Risk Committee.

The Board welcomes Gugu and looks forward to his contribution to the Company.

Change in function of director

Mumsy Mthembu (“Mumsy”) was appointed as a non-executive director to the Board with effect from 17
August 2020. It was intended that Mumsy, in her intended capacity as joint CEO of Lamba Corporation,
would also serve on the boards of its subsidiary companies, including Verityhurst Proprietary Limited
(“Verityhurst”). Shareholders are advised to refer to the announcement dated 30 July 2020 for further
details on Verityhurst. Subsequent to this, Mumsy did not take up employment with, nor a position on the
board of, Verityhurst, and this has necessitated a reassessment of her independence by the Board.

The Board is pleased to advise shareholders that it has agreed that Mumsy is in fact an independent non-
executive director. Accordingly, Mumsy’s status as a director on the Board has changed from non-executive
director to independent non-executive director, with immediate effect.


Johannesburg
20 April 2021

Designated Adviser
Merchantec Capital

Date: 20-04-2021 10:47:00
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