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Appointment and a resignation

Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139


In compliance with the Listings Requirements of the JSE Limited, shareholders are advised that Mr. Herman Singh and Dr. Phumla Mnganga have been appointed as independent non-executive directors of Adcorp. Mr. Singh is appointed as a member of Adcorp’s Audit and Risk Committee as well as the Investment Committee. Dr. Mnganga is appointed as a member of Adcorp’s Transformation, Social and Ethics Committee as well as the Investment Committee. All the above appointments are effective from 6 September 2018.

In addition, Mr. Mark Jurgens has resigned as a director of Adcorp with effect from 6 September 2018. Mr. Jurgens will remain in the employ of Adcorp in his role of heading up Adcorp’s Australian operations.

Mr. Singh is an Engineer who has focused his career on the convergence of Technology and Business.  His BSc. In Mechanical Engineering, GDE in Industrial Engineering and MBA were all granted at Wits University. He was a GM and Director at Barloworld subsidiary Alstom in 1989, MD of Siemens Industry in 1996, Director of eCommerce at Standard Bank in 2000, Managing Executive of mCommerce at Vodacom in 2013 and group chief digital officer at MTN in 2015. He is currently deputy chairman of Jumia (Africa’s largest e-commerce company), chairman of aYo Insurance (a joint venture with MTN and MMI), on the advisory board of MEIG and IIG the two largest e-commerce players in the Middle East as well as a non-executive director of MTN Ivory Coast and MTN Cameroon.

Dr. Mnganga obtained her doctorate from Wits Business School and her MBL from Unisa. She is the founder and Managing Director of Lehumo Women’s Investment Holdings, a women owned and managed investment holding company. Prior to this, she was employed as an HRD/transformation executive for the Tongaat Hulett Group, and previously as a change management senior consultant at Deloitte. Dr. Mnganga was the Chairperson of the University of KwaZulu Natal and the past Chairperson of the Siyazisiza Trust, a large rural community trust that benefits rural women and vulnerable families. She currently serves as an independent non-executive director on the Boards of Directors of the Spar Group, Crookes Brothers Limited and Gold Circle.

The Board welcomes Mr. Singh and Dr. Mnganga and looks forward to their contribution to the Group.

6 September 2018

Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

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