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”)


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.


26 November 2018

Investec Bank Limited

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