Francois Marais has decided to retire as Chief Executive Officer of the Safari Investments RSA Limited with immediate effect. Francois experienced a family bereavement during the course of the year and as a result requested the board to expedite his retirement. The board resolved to accelerate the succession plan as outlined in the SENS of 18 September and has appointed Dirk Engelbrecht as Chief Executive Officer with immediate effect.

Dirk has been with Safari for five years and has been working very closely with Francois during this period. He will be supported by the highly skilled and mature leadership team and the board. Francois has been appointed as the non-executive chairman of the board of directors with immediate effect.

Dr. Philip Snyman, the current chairman will remain as an independent non-executive director and Francois will be supported by the lead independent non-executive director, Allan Wentzel.