Sygnia Limited announced that Mr. Aboubakar (Bakar) Jakoet has been appointed as an independent non-executive director of Sygnia with effect from 07 August 2023. Mr. Jakoet, a qualified Chartered Accountant, was the Chief Financial Officer and Executive Director of Pick n Pay Stores Ltd. ("Pick n Pay") up until his resignation in 2019. He was appointed as CFO and a member of the Pick n Pay board in 2011.

He continues to serve on the board of directors of Pick n Pay in a non-executive capacity. He is the Chairperson of the Group Audit Risk and Compliance Committee as well as a member of the Remuneration Committee. In addition to his responsibilities at Pick n Pay, Mr. Jakoet was a member of the University of Cape Town Council, and is Deputy Chairman of the UCT Finance Committee.

Mr. Jakoet is also a non-executive director of Oceana Group Limited, Chairman of their Risk Committee and a member of the Audit committee. Shareholders are advised further that the Sygnia board of directors has appointed Mr. Jakoet as a member of its Audit & Risk Committee.