AFRIMAT LIMITED - Changes To The Board And Its Committees

Changes To The Board And Its Committees

AFRIMAT LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT
ISIN: ZAE000086302
(“Afrimat” or “the Company”)




CHANGES TO THE BOARD AND ITS COMMITTEES


In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders
are hereby advised of the following changes to the board of directors of the Company
(“Board”) and its committees, elaborating on details provided in a SENS released on 17
February 2021 ("Announcement”).

In the Announcement, Afrimat announced the appointment of Deputy Chairman, Mr Francois
M Louw (“Mr Louw”), who currently also serves as the Company’s Lead Independent
Director. The rationale for this appointment was to ensure a smooth transition and thus an
uninterrupted adherence to corporate governance principles.

Subsequently, Mr Marthinus (Matie) W von Wielligh (“Mr von Wielligh”), the current
Chairman of the Board and a member of its Audit & Risk, Remuneration & Nominations, and
Social, ethics & Sustainability committees, will be retiring by rotation at Afrimat’s next Annual
General Meeting (‘AGM’). Matie has chosen to stepdown as Chairman and will not be making
himself available for re-election.

The Board wishes to express its gratitude to Mr von Wielligh who has served with distinction
and has contributed greatly to the Company’s growth, acquisitions, investment rationale,
culture, and overall success since his appointment to the Board in October 2006.

The Board is also pleased to announce that Mr Louw is thus appointed as Chairman
Designate of the Board and will assume the role of Chairman from the date of the Company’s
next AGM, currently anticipated to be held on or about 3 August 2022. The hand-over process
to Mr Louw will take place in an appropriate way

Mr Louw was appointed to the Board in November 2017 and is a member of the Audit & Risk
and Remuneration & Nominations committees. He currently serves as the Lead Independent
Director and Chairman of the Investment Committee and was appointed as Deputy Chairman
in February 2021 to prepare him for the role of Chairman. His chairmanship of the Investment
Committee and role as Lead Independent Director will be relinquished to other independent
directors and will be announced on SENS at a suitable time.

“From myself and my fellow directors, I would like to thank Matie for his unwavering support
of Afrimat in terms of his commitment, guidance, thoughtfulness, general participation and
care. Matie has played a significant role in my personal development over many years for
which I am truly grateful. Likewise, Francois has worked closely alongside Matie and we know
that his expertise and guidance will be seamlessly integrated into Afrimat’s governance
structures, which he is already well entrenched in. We look forward to the Board being lead
and guided by Francois,” Andries van Heerden, CEO of Afrimat.
Cape Town
11 May 2022

Sponsor
PSG Capital

Date: 11-05-2022 04:00:00
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