CHANGES TO THE BOARD OF DIRECTORS: RESIGNATION OF NON-EXECUTIVE AND ALTERNATE NON-EXECUTIVE DIRECTORS

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06 Share code: ADR
ISIN: ZAE000000139 (“Adcorp” or the “Company”)

CHANGES TO THE BOARD OF DIRECTORS: RESIGNATION OF NON-EXECUTIVE AND ALTERNATE NON-EXECUTIVE DIRECTORS

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Mr Timothy Olls will be stepping down as a non-executive director of the Board of directors of Adcorp (“the Board”) as well as a member of the Human Capital Committee and the Investment Committee of the Company, with effect from 01 January 2025.

Shareholders are further advised that Mr Sam Sithole will be stepping down as an alternate non-executive director to Mr Olls with effect from 01 January 2025.

The Board would like to express its sincere gratitude to both Mr Olls and Mr Sithole for their valuable contributions to the Company since their appointment.

Mr Olls and Mr Sithole were initially nominated by Value Capital Partners, who remain a strategic investor in Adcorp, having been invested since May 2017.

Johannesburg
26 November 2024

Sponsor
Valeo Capital (Pty) Ltd