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Appointment of Director (Clive Smith)

Adcorp Holdings Limited
Registration number 1974/001804/06
Share code: ADR
ISIN number: ZAE000000139


In compliance with the JSE Limited Listings Requirements, shareholders are advised that Mr. Clive Smith is appointed as a non-executive director with effect from 10 January 2020.

Mr. Smith was the Group Chief Executive Officer of Tsebo Solutions Group (“Tsebo”) from January 2004 to May 2019. Under his leadership, Tsebo grew into a highly successful workplace services business with 42,000 employees and providing facilities management, catering, cleaning, hygiene, security and related services across more than 7,000 sites in 28 countries in Africa and the Middle East. During his tenure, Mr. Smith also oversaw complex transactions including international acquisitions and two rounds of institutional private equity funding.

In light of Mr. Smith’s significant operational, financial and strategic experience in the workplace services industry, the Board is pleased to announce that he will also serve as a consultant to Adcorp.

The Board welcomes Mr. Smith and looks forward to his contributions to Adcorp.

10 January 2020

Sponsor: Nedbank Corporate and Investment Banking

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