INVICTA HOLDINGS LIMITED - Changes to executive management and retirement of director

Changes to executive management and retirement of director

Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Ordinary Share code: IVT Ordinary Share ISIN ZAE000029773
Preference Share code: IVTP Preference Share ISIN: ZAE000173399
("Invicta" or the “Group”)

Changes to executive management and retirement of director


In compliance with paragraph 3.59 of the JSE Listings Requirements, shareholders are advised
that Arnold Goldstone has notified the board of his intention to take early retirement as Invicta’s
Chief Executive Officer and executive director and relocate abroad after nearly 30 years of
service with the Group. Arnold will continue in his current position until 31 December 2019 (“Early
Retirement Date”) in order to ensure a smooth handover.


Arnold has agreed to continue as the non-executive chairman of Kian Ann Engineering, Invicta’s
Singaporean subsidiary, from 1 January 2020 to assist the Group with growth in South East Asia.
He has also confirmed his willingness and availability to serve Invicta in other capacities after his
Early Retirement Date if required by the board.


The board thanks Arnold for his dedication and invaluable contributions to Invicta and wishes him
well upon his early retirement.


A process in underway to find a suitable successor for him and shareholders will be informed
once a candidate has been appointed.


The board is pleased to confirm that Invicta executive director, Anthony (Tony) Sinclair, the Chief
Executive Officer of Invicta’s Capital Equipment Group (“CEG”), has agreed to continue in his
current role following his mandatory retirement in July 2019. Tony has been with CEG for 35
years and his continued service as the CEO of CEG ensures that his skills and knowledge can
contribute to the continuity of growth and success of CEG.


The board is further pleased to advise shareholders that the management team of Invicta’s
Engineering Solutions Group (“ESG”) has been materially strengthened by the appointment of
Robin Briggs as the new Managing Director to the BMG division of ESG with effect from 1 May
2019.


BMG is the largest division within ESG and the role of BMG MD has been fulfilled by Invicta
executive director Gavin Pelser, who has, for the past two and a half years, been performing the
dual role of ESG CEO and BMG MD. The appointment of Robin (45), who has vast bearings and
industrial consumables experience, will enhance and deepen the skills of the management team
at ESG, improve succession planning and free Gavin Pelser up to focus his energy on the growth
of ESG.


The board is looking forward to growth opportunities and is confident that the depth of skills
available to Invicta will enable it to excel.

Cape Town
12 April 2019

Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 12/04/2019 03:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.