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Appointment of Indep Non-Exec Directors, Change In Role & App of Directors to Nutritional Foods Pty Ltd
NUTRITIONAL HOLDINGS LIMITED
(Registration number: 2004/002282/06)
(Incorporated in the Republic of South Africa)
(Share Code: NUT ISIN Code: ZAE000156485)
(“Nutritional Holdings” or “the Company”)
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS, CHANGE IN ROLE AND
APPOINTMENT OF DIRECTORS TO NUTRITIONAL FOODS PROPRIETARY LIMITED
(“NUTRITIONAL FOODS”)
Director Appointments
The board is pleased to announce two new strategic appointments as Independent
Non-Executive Directors, following nominations received as part of the rebuilding and
repositioning of Nutritional Holdings. The two appointments are as follows:
Mr Igmar Rautenbach (CA(SA):
Igmar completed articles with Ernst & Young and qualified as a Chartered
Accountant in 2001. He obtained a Master’s degree in South African Tax and
successfully completed the CIMA exam. He held various financial roles across General
Commerce which industries include Engineering, FMCG, Banking, Real Estate and IT.
Igmar is experienced in financial reporting, system implementation, capital raising and
business development and has a keen interest in digitalization of business services in
an open economy. He is currently managing a fast-growing system integration
business that provides technology and expertise to large enterprises in Southern
Africa.
Igmar is appointed as an Independent Non-Executive Director and will also be
appointed as a member of the Audit and Risk Committee.
Cobus Kotze: (BA LLB (Stellenbosch))
Cobus is an accomplished and seasoned, Director and professional who has led due
diligences and completed negotiations over more than 20 years. His experience is
diverse, spanning from intellectual property to energy and technology investments of
significant size.
In 1985 Cobus founded PSM group and Luna corporation, which became South
African Investment Limited (‘SAIL’). SAIL invested in various high profile sport teams,
sports facilities and related opportunities. The company was listed on the
Johannesburg Stock exchange and Luxembourg Exchange. Cobus was the head of
business development until Remgro (‘Remgro’) Limited acquired the company’s
shares and he managed Remgro’s investment in the South African television channel
‘ETV’. He was appointed to the ETV board of directors and was responsible for its
turnaround and various financing activities.
Thereafter Cobus was involved in the start-up and financing of Circle Capital and
assisted in the Mediclinic and Capitec BEE transactions, before getting involved in the
telecoms sector in the USA. More recently, Cobus has been involved in the solar
power sector and technology, including payments systems.
Cobus is appointed as an Independent Non-Executive Director and will also be
appointed as a member of the Audit and Risk Committee.
The Board welcomes these two strong, experienced candidates to the Board as part
of the strengthening of the Board, compliance and corporate governance.
Change in role to Financial Director
Shareholders are advised that the role of Mr Neville Moodley has changed from
executive director to Financial Director with immediate effect. In accordance with
the Companies Act and JSE Listings Requirements, the experience and expertise of Mr
Moodley will be considered by the Audit and Risk Committee in due course, once it
has been reconstituted. However, Mr Moodley was working with the former financial
director in a financial manager function and was involved in the preparation for the
audits of the subsidiaries and holding company.
Board composition & Committee restructure
The Board composition is still under review and further appointments will be made to
address the composition of the various committees as well as the effective
functioning of the Board.
The company will make a further announcement in due course once the Board
restructure has been finalised.
Nutritional Foods
Shareholders are advised that the board has resolved that the executive directors of
the Company, Mr Nikhyle Dasarath and Mr Neville Moodley be appointed to the
Board of Nutritional Foods as the first step in regaining control of the subsidiary board
and its operations.
The intention is to rebuild Nutritional Foods and recommission some of the existing
plant and equipment. More detail will be provided in due course.
By order of the Board
Johannesburg
28 March 2022
Date: 28-03-2022 09:07:00
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