| Imagery Source: Afrimat Limited |
| Information Source: JSE SENS |
| In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, Afrimat shareholders are advised of the following changes to the board of directors of the Company (“the Board”). |
| Appointment of non-executive directors |
| The Board is pleased to announce the appointment of Messrs Jacques Breytenbach and Pierre Joubert as non-executive board members with effect from 1 June 2025. These appointments form part of the Company’s strategy to bolster the skillset of the Board, strengthen its overall governance and strategic oversight capabilities and makes provision for the retirement of the non-executive directors as disclosed below. |
| Mr Breytenbach is an extensively experienced and accomplished financial professional and is a qualified Chartered Accountant (CA(SA)), holds a Postgraduate Diploma in Auditing from the University of the Witwatersrand, as well as Bachelors and Honours degrees in B.Compt. from the University of South Africa. Mr Breytenbach has over 25 years’ experience in the South African mining industry, alongside 15 years in Tanzania. He has held executive and senior financial management roles for over 18 years. He served as Finance Director and Chief Financial Officer of Petra Diamonds Ltd (“Petra Diamonds”), a diamond mining company listed on the London Stock Exchange. During his tenure at Petra Diamonds, which ended in 2024, Mr Breytenbach led several notable corporate finance transactions, including debt raisings, rights issues, refinancing initiatives, and a capital and debt restructuring of approximately US$800 million in response to market volatility during the Covid-19 pandemic. |
| Mr Joubert holds a B.Eng. in Mining Engineering from the University of Pretoria, a Mine Manager’s Certificate of Competency, a Management Development Programme qualification from UNISA’s School of Business Leadership, and a certificate in Industrial Relations from the University of the Witwatersrand. He has over 44 years of experience in production and project management across leading mining and construction companies in Africa. He has led multidisciplinary teams in successfully developing major mining operations in South Africa, Zambia, and the Democratic Republic of Congo. His project portfolio includes ultra-deep level gold mines, high-grade zinc and copper mines, mechanised platinum operations, and a low-grade copper mine, each executed with a strong focus on safety, operational excellence, and sustainability. He served as Executive Vice President of Ivanhoe Mines, and until retirement earlier this year, Mr Joubert has also played a pivotal role in launching and growing new divisions across broad geographic areas, transforming them into thriving business units. |
| Retirement of non-executive directors |
| In addition, shareholders are advised that Mr Gert Coffee, a non-executive director and member of the Social, ethics and sustainability Committee, who, in terms of the Company’s memorandum of incorporation, is set to retire by rotation at the Company’s 2025 annual general meeting, has not offered himself for re-election and accordingly will retire from the Board with effect from 23 July 2025. |
| Ms Phuti Tsukudu, a non-executive director, member of the Social, Ethics and Sustainability Committee and Chairman of the Remuneration Committee, has indicated that she will retire from the Board at the end of the year. |
| Appointment of Chairman of the Investment Committee |
| Mr Nicolaas Kruger has been appointed as the Chairman of the Investment Committee of the Company. |
| The Board would like to welcome Messrs Breytenbach and Joubert to the Company, and to Mr Kruger in his role as Chairman of the Investment Committee and wish them well in their respective positions and look forward to their contributions. The Board also wishes to thank Mr Coffee and Ms Tsukudu for their extensive and valuable contribution to the Board over their tenure and wish them well in their future endeavours. |
| For the full document, click the link below |
| Afrimat Limited |
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