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TONGAAT HULETT LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1892/000610/06
Share code: TON
ISIN: ZAE000096541
(“Tongaat Hulett” or the “Company”)
CHANGES TO THE BOARD
In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the Company hereby
notifies shareholders that Dan Marokane (“Dan”) will be stepping down from his role as Interim Chief
Executive Officer. It has been public knowledge that Dan will be appointed as Eskom’s new Chief
Executive Officer, prior to the adoption of the Vision business rescue plan, published on
29 November 2023 including amendments proposed and approved, as announced on SENS on
12 January 2024. To ensure a smooth handover, Dan will work with the Tongaat Hulett team and the
business rescue practitioners (“BRPs”’) until the end of February 2024. With the adoption of the Vision
business rescue plan and the planning for its implementation in progress, his handover period will
enable a smooth transition.
Dan has been an integral member of the Tongaat Hulett board of directors and its executive team and
has played a pivotal role since his appointment. Through his leadership he has guided the Company in
support of the BRPs throughout the business rescue process.
Rob Aitken (“Rob”), the current Chief Financial Officer of Tongaat Hulett, has accepted the role of
Interim Chief Executive Officer of Tongaat Hulett. Rob has also played a critical role in the turnaround
of Tongaat Hulett and has provided invaluable support to the BRPs since October 2022 and throughout
the business rescue process.
Dan and Rob have worked closely during the entire period of the Company’s turnaround journey. Rob
is a registered chartered accountant with the South African Institute of Chartered Accountants. He has
held various senior executive roles over the past 15 years and has developed a deep understanding of
the sugar industry and the business of Tongaat Hulett. Rob has demonstrated leadership, grit and
commitment through challenging and uncertain times.
The above changes will be effective from 1 March 2024.
The Company would like to thank Dan for his leadership and contribution during his time with Tongaat
Hulett and wishes him the best of luck as he steps into his new role. The Company would also like to
wish Rob all the best in his new appointment and will provide him the full support required in the journey
that lies ahead.
18 January 2024
Sponsor
PSG Capital
