AVENG LIMITED - Changes to the Board

Changes to the Board

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")

CHANGES TO THE BOARD

In compliance with paragraph 3.59(b) of the Listings Requirements of the JSE Limited, shareholders
are hereby advised that, in line with the Board’s original intention and further to the announcement
dated 6 April 2020, the Board confirms the retirement of Mr Eric Diack from the Board. Mr Diack has
been a valued member of the Board and has provided the Company with steadfast leadership
through a period of significant uncertainty. The Board thanks Mr Diack for his valuable contribution
and wishes him well in his future endeavours.

Mr Philip Hourquebie, who has been a Board member since August 2015 and the Chair of the Audit
and Risk Committee since August 2017, has been appointed Chairman of the Board. Mr Hourquebie
has extensive operational and strategic experience, gained particularly from his long career at EY
(formerly Ernst & Young). During this time, he held various positions including CEO South Africa;
Managing Partner: sub-Saharan Africa region; and Managing Partner: central and south-east Europe
region. He is currently a Director of Investec Ltd, Investec plc, Investec Bank Ltd and Investec
Property Fund Ltd, and Trustee of the Denis Hurley Association.

Following Mr Hourquebie’s appointment as the Chairman of the Board, the following Board
committees have been reconstituted as follows:

Ms Bridgette Modise, currently an independent non-executive director, has been appointed as Chair
of the Audit and Risk Committee and a member of the Investment Committee. Mr Hourquebie, with
his appointment as Chairman of the Board, steps down from the Audit and Risk Committee and has
been appointed as Chair of the Investment Committee. All of the above appointments are with
immediate effect.



The composition of the Aveng Board remains compliant with the King IV requirements.

Melrose Arch

17 June 2020



JSE Sponsor

UBS South Africa Proprietary Limited



Michael Canterbury

Group Executive: Strategy & Investor Relations

Tel: 011 779 2800
Email: michael.canterbury@avenggroup.com

Date: 17-06-2020 03:50:00
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