ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR & ISIN: ZAE000000139
(“Adcorp” or “the Group“)
CHANGES TO THE BOARD: APPOINTMENT OF ALTERNATIVE NON-EXECUTIVE DIRECTOR & RESIGNATION OF A NON-EXECUTIVE DIRECTOR
In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, shareholders are advised that Mr Timothy Olls has been appointed as an alternative non-executive director to Mr Samuel Sithole of Adcorp with immediate effect.
Mr Olls is an investment professional at Value Capital Partners (“VCP”). Prior to joining VCP, he was a Manager in the Mergers and Acquisitions team at PwC. He holds a Bachelor of Commerce with Honours in Accounting cum laude from Nelson Mandela University, is a registered Chartered Accountant (South Africa), and has passed all 3 levels of the CFA Program and completed the required work experience. The Board is confident that Mr Olls’ skills and expertise align with the current needs of the Company.
The Board welcomes Mr Olls and looks forward to his future contribution to Adcorp.
Shareholders are also advised that Mr Monde Nkosi will be stepping down as non-executive director of Adcorp effective 01 June 2022.
The Board wishes to extend its gratitude to Mr Nkosi for his significant contribution to Adcorp since his appointment.
06 December 2021