In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements (the “Requirements”), the board of directors of Labat Africa Limited ("the Board") wishes to advise the following changes to the Board with the Appointment of Mr. Irfaan Noor Mohammed and Mr. Mohammed Paruk.
• Mr. Irfaan Noor Mohammed (“Mr. Mohammed”) has been appointed as an Executive Director of the Company effective 08 January 2025.
o Mr. Mohammed has over 20 years of extensive experience in the ICT industry, with a primary focus on Africa and the Asian subcontinent. He holds a Higher Certificate in Information Systems, a Diploma in IT Infrastructure Management, and a Diploma in Data Science and Analysis.
o Mr. Mohammed is widely recognized for his expertise in the fintech networking arena, earning a reputation as a leader in innovation and technological advancement
Furthermore, to mitigate risks and enhance operational stability, the Board has appointed Mr. Irfaan Noor Mohammed and Mr. Brian van Rooyen as joint CEOs, effective immediately.
The Board would also like to announce the appointment of Mr. Mohammed Paruk as a non-executive Director of the company effective 08 January 2025.
• Mr. Paruk is a seasoned entrepreneur with over 35 years of experience across various industries.
o Highlights of his professional journey include, establishing and managing hardware stores in Lesotho before selling the business to return to KwaZulu-Natal, where he began importing furniture from China and Brazil.
o Ventured into the petroleum industry in 2017, where he successfully managed a fuel service station, achieving a revenue increase of over 60%.
The Company confirms that the appointments were made in accordance with the Board nomination policy. The Board welcomes Mr. Mahommed and Mr. Paruk and looks forward to their contribution to the Company.