CIL – board reconstitution and AGM postponement

Further to the successful implementation and conclusion of the Rights Offer, and the announcement on SENS on 2 January 2019 wherein shareholders were notified that Fairfax Africa Investments (Pty) Ltd. (“Fairfax Africa”) now holds 49.66% of CIG’s net outstanding shares, shareholders are hereby advised that the board of directors (the “board”) has resolved to reconstitute the CIG board (the “board reconstitution”) by:

  • accepting the resignations of Frank Boner, Alex Darko, Anthony Dixon and Kalu Ojah;
  • appointing Michael Wilkerson (as a non-executive director and Chairman of the Board), Sean Melnick (as a non-executive director), John Beck (as an independent non-executive director), Cindy Hess (as an independent non-executive director), Ahmad Mazar (as a non-executive director) and Quinn McLean (as a non-executive director); and
  • appointing Roger Hogarth (an existing independent non-executive director) as lead independent non- executive director and Chairman of the Audit and Risk Committee.

Annual General Meeting (“AGM”)
Further to the board reconstitution set out above, shareholders are informed that a decision has been taken to postpone the AGM which is now expected to be held on 27 March 2019 (the “postponement”) as the board reconstitution necessitates various amendments to the notice of AGM posted to shareholders on Thursday, 20 December 2018. A revised notice of AGM for CIG shareholders will be issued to shareholders on or about 25 February 2019. The salient dates and times relating to the AGM will be included in the revised notice of AGM.

Further information relating to the company’s AGM and the revised notice of AGM will be published on SENS in due course.

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