Enhanced Investments - Financial Portal

Change to the board – resignation of chief financial officer

Published: 2023-04-26 15:45:30 ET

AECI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI or the Company or the Group)


CHANGE TO THE BOARD – RESIGNATION OF CHIEF FINANCIAL OFFICER


In compliance with paragraphs 3.59 of the JSE Limited (JSE) Listings Requirements and 6.39 of the
JSE Debt Listings Requirements, the AECI Board of Directors of (“the Board”) hereby notifies its
shareholders and noteholders that it has accepted the resignation of the Chief Financial Officer (CFO)
of AECI, Ms Aarti Takoordeen, for personal reasons, and with immediate effect.


Shareholders are further advised that the Board has appointed Rafael Fernandes as acting Chief
Financial Officer of AECI effective until further notice. Mr Fernandes has been group CFO for AECI
Mining since 2015 and knows the company and its leadership well. He is a qualified chartered
accountant (SA) with a B.Com Honours degree in Accounting, an ACMA qualification from CIMA, and
has completed the Strategic Financial Leadership Programme at Stanford University.


The Board has initiated a process to identify a new CFO and will consider internal and external
candidates.


Woodmead, Sandton
26 April 2023


Equity and Debt Sponsor:
Rand Merchant Bank (A division of FirstRand 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.