BELL EQUIPMENT LIMITED - Appointment of Chief Executive Officer and Board and Committee Changes

Appointment of Chief Executive Officer and Board and Committee Changes

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/013656/06
Share code: BEL
ISIN: ZAE000028304
("Bell Equipment" or "the Company")

APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND BOARD AND COMMITTEE
CHANGES

Following the notification of Leon Goosen's resignation as chief
executive ("CEO") with effect from 31 December 2023, Bell
Equipment is pleased to announce the appointment of Ashley Bell,
currently a non-executive director of the Company, as CEO of
the Company with effect from 1 January 2024. As a result,
Ashley's status as director will change to that of Executive
Director upon his appointment as CEO, effective from such date.

Having served on the Board of the Company ("the Board") since
2015, Ashley brings a deep understanding of the yellow metal
industry, which is integral to our business. His tenure on the
Board has provided him with comprehensive insights into
operational practices and allowed him to play a role in the
Company's future strategic initiatives.

Gary Bell, Chairman of the Board, and Hennie van der Merwe, the
Lead Independent Director, said "on behalf of the Board, we
extend our congratulations to Ashley on his appointment. His
comprehensive knowledge of the Bell group will be of immediate
value and a great asset to the Bell team, and his commitment to
the group's family values and proven strategic vision align with
Bell Equipment's long-term objectives. He will be backed by a
dedicated Board and a robust executive team which fully supports
his appointment."

The Board extends its appreciation to Leon for his leadership
and valuable contribution to the Company during his tenure as
CEO, and the Company wishes him well in his future
endeavours.

Avishkar Goordeen, the alternate director to Leon Goosen, will
be appointed as the alternate director to Ashley Bell effective
1 January 2024.

Ashley Bell currently serves on the Risk & Sustainability
Committee as a non-executive director. In view of his above
change in status to executive director, Ushadevi Maharaj, an
independent non-executive director of the Board, has been
appointed as a member of this committee with effect from 1
January 2024. Ashley shall continue to serve on the Risk and
Sustainability   Committee   and   the   Social,   Ethics   and
Transformation Committee in his capacity as chief executive and
prescribed officer rather than as non-executive director.


Richards Bay
30 November 2023

Sponsor
INVESTEC BANK LIMITED

Date: 30-11-2023 04:00:00
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