AEL: ALLIED ELECTRONICS CORPORATION LIMITED – Appointment of Acting Group Chief Financial Officer

AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Appointment of Acting Group Chief Financial Officer
Appointment of Acting Group Chief Financial Officer

Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
("Altron")


APPOINTMENT OF ACTING GROUP CHIEF FINANCIAL OFFICER ("CFO")


Shareholders are referred to the announcement on SENS on 1 December 2017 regarding the
resignation of the group CFO and are hereby advised that the Altron Board has appointed Mr
Tim Jacobs as acting group CFO, with effect from 1 March 2018, until such time as a
permanent appointment is made.

Mr Jacobs is a qualified Chartered Accountant and holds a BCom degree in accounting,
commercial law and business administration, as well as a H.Dip.Acc from Rhodes University.
With over 20 years´ commercial experience, Mr Jacobs has the required financial
competencies for the acting CFO role.

Mr Jacobs joins Altron from MultiChoice Africa Limited ("MultiChoice"), part of the Naspers
group, which operates in numerous African countries, where he held the position of CFO
before being promoted to Chief Executive Officer in 2014. Previously Mr Jacobs held CFO
positions at Nampak Limited and Transaction Capital Limited.

Shareholders will be advised once a permanent candidate has been appointed to the group
CFO position.


Johannesburg
1 March 2018

Sponsor
Investec Bank Limited

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