AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Resignation of a Prescribed Officer
Resignation of a Prescribed Officer
ALLIED ELECTRONICS CORPORATION LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
("Altron" or "Altron Group" or "the Company")
RESIGNATION OF A PRESCRIBED OFFICER
The Company announces that Mr Andrew Holden, Altron´s Chief Operating Officer has tendered his
resignation effective from 31 May 2021. Mr Holden´s resignation applies to all his roles and
responsibilities within the Altron Group and its affiliates effective from 31 May 2021.
Mr Holden leaves the Altron Group to pursue career opportunities in the United Kingdom. The
Company has accepted Mr Holden´s resignation and would like to express sincere appreciation to him
for his years of dedicated service and to wish him well in his future endeavors.
In line with the strategic direction of the Altron Group (Altron 2.0), the Board has elected not to replace
the role of the Chief Operating Officer and Mr Holden´s portfolio will be absorbed by the existing Chief
Executive Officer, Mr Mteto Nyati who has been a part of the Altron Group since 2017. Other
operational functions handled by Mr Holden will be assumed by some members of the Executive
Committee and this is in line with achieving cost efficiencies.
Johannesburg
30 April 2021
Sponsor: Investec Bank Limited
Date: 30-04-2021 03:00:00
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