CHANGES TO THE BOARD AND COMMITTEES

Alviva Holdings Limited

(Formerly Pinnacle Holdings Limited)

(Incorporated in the Republic of South Africa)

Registration number 1986/000334/06

Share Code: AVV

ISIN: ZAE000227484

(“Alviva” or “The Company”)

 

CHANGES TO THE BOARD AND COMMITTEES

Following the AGM held on 23 November 2017, Mr Bheki Sibiya, the Lead Independent Director, opted not to stand for re-election as a director, leaving a vacancy on the Board. The Board is pleased to advise the appointment of Ms Parmesvari Natesan (38) as an independent non-executive director and Lead Independent Director with immediate effect. In addition, Ms Natesan will serve as a member of the Audit and Risk Committee and the Social and Ethics Committee.

Ms Natesan holds the following qualifications –  B Com (Cum Laude), B Com (Honours) Nelson Mandela Metropolitan University; Chartered Accountant (SA). She completed her articles in 2005 and then held the positions of Audit Manager and Senior Technical Manager. She joined the Institute of Directors in Southern Africa (“IoDSA”) in 2010 as Senior Governance Specialist and has served as an Executive Director of IoDSA since September 2014. Her current role of Executive Director: Centre for Corporate Governance at the IoDSA involves strategic direction and oversight over the Centre for Corporate Governance, the IoDSA’s technical division, as well as Director Development, the IoDSA’s training division. She serves on various committees and holds various memberships including: Member of the South African Institute of Chartered Accountants, member of the  King Committee on Corporate Governance, member of the King IV Task Team and Institute of Directors Southern Africa and Institute of Directors UK. She served as a member of the IoDSA’s Social and Ethics Committee and currently serves as a member of the IoDSA’s Investment Committee. She also serves as a member of the Nomination Committee of the South African Institute of Professional Accountants and is Independent Non-executive Trustee of the Professional Provident Society Holdings Trust.

 

COMPOSITION OF BOARD AND COMMITTEES

 

Following the appointment of Ms Natesan the Board and Committees of the Board are composed as follows:

 

The Board

The Board will comprise of six directors, two executive directors and four non-executive directors. The executive directors are the Chief Executive Officer and the Chief Financial Officer. The majority of the non-executive directors are independent. The Chairperson, who is a non-executive director, is not considered to be independent and thus a Lead Independent Director is appointed.

 

Audit and Risk Committee

Ms M Medupe – Chairperson – BAcc Post Graduate Diploma in Accountancy, CA (SA)

Ms SH Chaba – Member – BA (Economics and Industrial Psychology); Post Graduate Diploma in Human Resources Management, Senior Executive Programme (Wits and Harvard Business Schools)

Ms P Natesan – Member – B Com (Cum Laude), B Com (Honours), CA (SA)

 

Following the vacancy left by Mr Sibiya, Ms Natesan is appointed as a member of the Committee.

 

Remuneration Committee

Ms SH Chaba – Chairperson

Ms N Medupe – Member

Mr A Tugendhaft – Member

Following a request from Ms Medupe to stand down as Chairperson of the Committee but to continue as a member Ms Chaba is appointed Chairperson of the Committee.

 

Social and Ethics Committee

Ms SH Chaba – Chairperson

Ms P Natesan – Member

Mr R Nkuna – Member

 

Following the vacancy left by Mr Sibiya, Ms Natesan is appointed as a member of the Committee.

 

Midrand

6 December 2017

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