In compliance with paragraph 3.59 of the JSE Listings Requirements and paragraph 6.42 of the JSE Debt and Specialist Securities Listings Requirements, shareholders and noteholders are advised that Mr Paul Cambo Baloyi has resigned as Chair of the Momentum Group Limited and Momentum Metropolitan Life Limited Boards ("Group Boards") and consequently as member and Chair of the Group’s Nominations Committee, effective 7 November 2025.
Mr Baloyi has also resigned as an independent non-executive director of the Group, effective immediately after the conclusion of the Annual General Meeting of the Group scheduled to take place on 20 November 2025. The Group Boards thank Paul for his service to the Group.
Momentum Group is pleased to announce the appointment of Mr Tyrone Soondarjee as Interim Chair of the Group Boards, as well as a member and Interim Chair of the Group’s Nominations Committee, with effect from 7 November 2025 and until the appointment of the new Chair of the Group Boards.
Mr Soondarjee is a Chartered Accountant (SA) and was appointed as an independent non-executive director to the Group Boards in June 2023. He is an existing member of the Group’s Audit, as well as the Social, Ethics and Transformation committees. The appointment was made pursuant to the policy dealing with the nomination and evaluation of directors of the Group.
The process to appoint a new Chair of the Group Boards will commence immediately. The Group will issue a further announcement once the process has been concluded.