Change to the Board of Directors
19 July 2012
In accordance with 3.59(b) of the Listings Requirements of the JSE Limited, shareholders are hereby informed of the following changes to the Board of Directors of Wesizwe (“the Board”):
- the resignation of Professor Robert Garnett as an independent non-executive director of the Company with effect from 19 July 2012. The Board would like to thank Professor Robert Garnett for his valuable contribution and wishes him well with his endeavours in pursuing his academic interests in developing the next generation of accountants; and
- the resignation of Mr. Qiyin (James) Zhang as a non-executive director of the Company with effect from 19 July 2012. The Board would like to thank Mr. James Zhang for his contribution and wishes him well for his future.
Results of the Annual General Meeting
Shareholders are advised that at the annual general meeting held earlier today, all resolutions were passed with the requisite majority with the exception of:
- ordinary resolution number 1 relating to the re-election of Mr. Mlibo Mgudlwa as non-executive director of the Company;
- ordinary resolution numbers 5 and 15 which resolutions was withdrawn as a result of the resignation of Professor Garnett as per paragraph 1.1 above; and
- ordinary resolution number 11 which was withdrawn as a result of the resignation of Mr. Zhang as per paragraph 1.2 above. In light of the Board Evaluation completed earlier this year and the subsequent recommendation that the Board be reduced, the above vacancies will be reviewed by the Board and should any new appointments be made, same will be duly communicated to shareholders.
19 July 2012
PSG Capital Proprietary Limited