Change to the Board of Directors
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of RACEC hereby notifies its shareholders that Mr Qedukwazi (”Ted”) Zulu been appointed as a non-executive director and Mr Stephen Smithyman has been appointed as alternate director to Ted Zulu with effect from18 August 2009.
Ted Zulu is the chief executive officer (”CEO”) of Solethu Investments (Proprietary) Limited (”Solethu”) and the founder and CEO of RRL Grindrod (Proprietary) Limited (”RRL Grindrod”). Ted developed a deep understanding of rail operations during his eight-year tenure at Transnet Freight Rail where he managed the coal terminals, mining sector and cement sector.
Stephen Smithyman is a chartered accountant who completed his articles at Deloitte and Touche. Stephen specialised in leverage finance at Standard Bank and is currently a director of both Solethu and RRL Grindrod.
Cape Town
19 August 2009
Designated Adviser
Merchant Sponsors (Proprietary) Limited
Date: 19/08/2009 14:31:01 Produced by the JSE SENS Department.
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