Trencor

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Change in chief executive officer and to roles of directors

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(
Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor)

CHANGE IN CHIEF EXECUTIVE OFFICER AND TO ROLES OF DIRECTORS

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, it is announced that at the forthcoming annual general meeting (“AGM”) currently scheduled for 6 June 2017, and with effect therefrom:

  • Mr Jimmy McQueen will retire as chief executive officer, executive director and chairman of the executive committee but will remain on the board in a non-executive capacity; and
  • Mr Hennie van der Merwe, previously managing director of Trencor from 2003 to 2011 and currently a part-time executive director, will be appointed as chief executive officer and chairman of the executive committee in the place of Mr McQueen.

The above changes are subject to Mr McQueen and Mr Van der Merwe, both of whom retire by rotation at the AGM, being re-elected as directors.  They are both available and offer themselves for re-election.

Mr McQueen intends to retire from the boards of all local and off-shore group entities on which he serves, other than that of Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 48,04% beneficiary interest.

The board extends its appreciation to Mr McQueen for his dedication and hard work over the past 41 years with Trencor, during which he was an integral part of the senior management team that led Trencor to many successes. The board wishes him well in his deserved retirement.  

Trencor Services (Pty) Ltd
Secretaries
19 January 2017

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

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About Trencor

TRENCOR LIMITED is an investment holding company listed on the JSE. Trencor benefits from operations that focus on owning, leasing, managing and trading marine cargo containers worldwide, and related finance activities. Trencor has a beneficiary interest in Textainer.

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