ZEDER INVESTMENTS LIMITED - Potential Change In Strategy And Retirement Of CEO

Potential Change In Strategy And Retirement Of CEO

ZEDER INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2006/019240/06)
Share code: ZED
ISIN: ZAE000088431
LEI: 37890022AF5FD117D649
(“Zeder” or “the Company”)

Potential change in strategy and retirement of CEO

Shareholders are hereby advised that the Zeder board has decided to reconsider the strategy
of Zeder going forward following the disposal of Pioneer Foods and Quantum Foods. The
board is currently investigating whether to change the Zeder strategy, including one of value
unlocking in a responsible way. Zeder has excellent investee companies that can benefit from
African expansion and further investment. Such companies are well positioned to continue to
play a meaningful role and expand their footprint locally and on the continent. Zeder will in due
course communicate in more detail to the market.

Following inter alia a potential change in strategy, Mr Norman Celliers has decided to resign
as chief executive officer and executive director with effect from 1 October 2020. Mr Celliers
will be available to advise the Zeder board, to the extent required, following his resignation.

Mr Celliers joined the Zeder group approximately 8 years ago and was instrumental in initially
rationalising the investment portfolio and then creating various platform companies within the
group ranging from agribusiness to logistics. Mr Celliers and the Zeder team further assisted
to transform certain investments in Zeder’s portfolio from a cooperative undertaking to fully
fledged commercial enterprises. Additionally, Mr Celliers played a leading role in assisting
Zeder with exiting specific investments.

Zeder is well capitalised and remains suitably positioned to take advantage of opportunities in
the market including expanding certain platform enterprises into Africa should the board
decide not to change the strategy going forward.

The Zeder board wishes to thank Mr Celliers for his leadership and efforts over his tenure at
Zeder and wishes him well with his future endeavours.

Mr Johann le Roux, the current CFO, will be the acting CEO for an interim period commencing
1 October 2020. Mr Le Roux has been with Zeder since 2014 and is a chartered accountant
by profession.

Stellenbosch
9 September 2020

Sponsor
PSG Capital

Independent sponsor
UBS South Africa

Date: 09-09-2020 05:45:00
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