AECI
LIMITED
(Incorporated
in the Republic of South
Africa)
(Registration
Number 1924/002590/06)
Tax
reference number: 9000008608
Share
code: AFE ISIN:
ZAE000000220
Hybrid
code: AFEP ISIN: ZAE000000238
Bond
company code: AECI
LEI:
3789008641 F1D3D90E85
(AECI or
the Company or the Group)
Resignation
of the Chief Financial Officer and changes to the Board of
Directors ("Board")
In line
with paragraph 3.59 of the JSE Limited ("JSE") Listings
Requirements and paragraph 6.42 of the JSE Debt & Specialist
Securities Listings Requirements, shareholders and noteholders are
hereby informed that Ms. Rochelle Gabriels is stepping down as
Chief Financial Officer ("CFO") and Executive Director of AECI with
effect from 31 December 2024, on
mutually agreed terms.
To ensure
a seamless transition of executive authority, Mr.
Ian Kramer, currently Senior Finance
Advisor to the Company, has been appointed as the acting CFO of
AECI, from 31 December 2024,
for a period of six months. Ms.
Gabriels has committed to facilitating a structured and
smooth handover
process and will remain available to support and assist the acting
CFO during the transitional period.
Dr. Khotso
Mokhele, Chairman of AECI, said:
"On behalf of the Board, I wish to thank Rochelle for her service
during a challenging and transformational year for the Company and
recognise the impact she has made on the Group. We appreciate her
continued support, to ensure a smooth handover and wish her all the
best in the future."
"The
appointment of Ian Kramer as the
acting CFO ensures stability and continuity for the Group. Ian is a
highly accomplished finance executive with global experience in
finance, auditing and business leadership, and his extensive
expertise in the mining industry will serve as an additional asset
to the Group. He is well placed to lead the finance team and to
continue its work delivering on the Company's growth
strategy".
Ian Kramer is a Chartered Accountant CA (SA) and holds a
B.Com (Honours) Accountancy degree from the University of
Pretoria. His expertise spans
financial reporting, tax, risk management, IT, and treasury
functions. Most recently, Ian served as Senior Vice President:
Group Finance and Interim CFO at AngloGold Ashanti plc, where he
led and supported a number of significant projects, including
corporate restructures, external reporting optimisation and major
bond issuances.
The
process of identifying suitable candidates for the appointment of a
permanent CFO and Executive Director has commenced, and
shareholders and noteholders will be advised of this appointment in
due course.
Woodmead,
Sandton
23 December 2024
Equity
Sponsor: Rand Merchant Bank (a
division of FirstRand Bank Limited)
Debt
Sponsor: Questco Proprietary Limited