AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Appointment of Independent non executive director and retirement of directors Appointment of Independent non executive director and retirement of directors Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron" or "the Company") APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND RETIREMENT OF DIRECTORS In accordance with Section 3.59 of the JSE Limited Listings Requirements the Altron Board is pleased to announce to shareholders the appointment of Dr Phumla Mnganga as independent non-executive director and member of the Altron Social and Ethics Committee, with effect from 1 February 2019. Dr Mnganga has over 20 years´ experience in the implementation of business development strategies in line with organisational growth and transformation objectives. Dr Mnganga obtained her doctorate from Wits Business School and her MBL from Unisa. She is the founder and Managing Director of Lehumo Women´s Investment Holdings, a women-owned and managed investment holding company. Prior to this she was employed as a HRD/transformation executive for the Tongaat-Hulett Group, and previously as a change management senior consultant at Deloitte. Dr Mnganga was the Chairperson of the University of KwaZulu-Natal and the past Chairperson of the Siyazisiza Trust, a large community trust that benefits rural women and vulnerable families. She currently serves as an independent non-executive director on the boards of directors of the Spar Group Limited, Adcorp Holdings Limited and Crookes Brothers Holdings Limited. Shareholders are further advised that Dr Penuell Maduna and Ms Dawn Mokhobo will retire as non-executive directors from the Board and as committee members with effect from 28 February 2019. The Board takes this opportunity to thank Dr Maduna and Ms Mokhobo for their valuable contribution made to the Company during their respective tenures on the Board and welcomes Dr Mnganga to the Altron group. Johannesburg 26 November 2018 Sponsor Investec Bank Limited Date: 26/11/2018 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.