Enhanced Investments - Financial Portal

Resignation of Mr Douglas Craigie Stevenson, Chief Executive Officer of Cell C

Published: 2023-03-23 12:13:19 ET

Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU ISIN: ZAE000109088
(“Blue Label” or “ the Company”)

Resignation of Mr Douglas Craigie Stevenson, Chief Executive Officer of Cell C

Shareholders of Blue Label are advised that the Board of Cell C announced that Mr Douglas
Craigie Stevenson (Douglas), will step down as Chief Executive Officer (CEO) of Cell C,
effective 31 March 2023. Douglas has elected to resign for personal reasons and to pursue
other opportunities in line with his personal career goals.

Joe Mthimunye, Chairman of the Cell C Board, says “We thank Douglas for his valued
contribution and for successfully assisting in navigating Cell C through the recapitalisation
process. Through the implementation of Cell C’s new strategy, he has directed the
Company, in conjunction with his management team, to improved financial stability,
enhanced operational performance and established a path to sustainability. We wish
Douglas well in his future endeavours.”

Mr Brett Copans (Brett) has been appointed to lead the Company as interim CEO and is
appointed to the board with immediate effect. Brett joined Cell C in April 2022 and was
primarily responsible for ensuring the successful conclusion of the recapitalisation
transaction. He was subsequently appointed as Chief Restructuring Officer. Before joining
Cell C, Copans spent 18 years at Investec Bank and then founded Pentrich Financial
Services, a specialist financial services business providing capital raising, advisory and
management services to companies.

The board of Cell C will initiate a process to appoint a permanent CEO.

23 March 2023

Sponsor: Investec Bank Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.