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Changes To The Board Of Directors And Committees

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 of changes to the board of directors of Adcorp.

Mr Mncane Mthunzi and Mr Paul Moeketsi have resigned as non-executive directors with effect from 6 June 2019. The board of directors extends their appreciation to Mr Mthunzi and Mr Moeketsi for their significant contributions to Adcorp since their appointments in February 2010 and February 2018 respectively.

Ms Ronel van Dijk and Mr Monde Nkosi have been appointed as independent non-executive directors of Adcorp with effect from 6 June 2019. Ms van Dijk is a seasoned financial executive who served as Chief Financial Officer of Spur Corporation Limited from 2003 to 2018. Ms van Dijk is a CA(SA) and holds a Bachelor of Accounting and Bachelor of Accounting Honours from Stellenbosch University. Mr Nkosi is an investment professional at Value Capital Partners (“VCP”). Prior to joining VCP, he was a Senior Associate on the investment team of FFL Partners, a San Francisco-based private equity firm managing more than $2bn. He holds a Bachelor of Business Science with Honours in Finance from the University of Cape Town, a Master of Arts in Education from Stanford University and an MBA from Stanford University, where he was an Arjay Miller Scholar. Mr

Nkosi has served as an alternate non-executive director of Adcorp since October 2018. The board welcomes Ms van Dijk and Mr Nkosi and looks forward to their contributions to Adcorp.

Shareholders are also advised of changes to the committees of the board with effect from 6 June 2019. Dr Phumla Mnganga will replace Mr Mncane Mthunzi as Chairman of the Transformation, Social and Ethics Committee. Mr Cecil Maswanganyi will replace Mr Paul Moeketsi as Chairman of the Investment Committee. Dr Phumla Mnganga will replace Mr Cecil Maswanganyi on the Remuneration Committee and the Nominations Committee. Dr Sydney Mufamadi will step down from the Audit and Risk Committee. Ms Ronel van Dijk will join the Audit and Risk Committee. Mr Monde Nkosi will join the

Investment Committee.

The revised composition of the Board Sub-Committees are as follows:

​Committee: ​Audit and Risk ​Investment ​Nominations ​Remuneration ​Transformation, Social and Ethics
​Chairman: ​Sindisiwe Maboso-Koyana* ​Cecil Maswanganyi ​Gloria Seroba* Sam Sithole​ ​Phumla Mnganga*
​Members: ​Herman Singh* CJ Kujenga​ ​Phumla Mnganga* ​Phumla Mnganga* ​Cecil Maswanganyi
​Michael Spicer* ​Gugu Dingaan ​Michael Spicer* Michael Spicer*​ ​Gugu Dingaan
​Ronel van Dijk* ​​Herman Singh* ​Sam Sithole​ ​Sindisiwe Maboso-Koyana* Sydney Mufamadi*​
​Innocent Dutiro
​Monde Nkosi

7 June 2019

Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

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