Prescient appoints a new FD
Prescient Limited Directors announced the appointment of Murray Louw, currently the non-executive Chairman of the Group, as Financial Director with effect from 1 February 2017.
It is envisaged that the appointment will take effect following the completion of the delisting of the financial services operations of the Group (“PFH”), as approved by shareholders on 28 October 2016. Following the completion of this transaction Prescient Limited will remain listed and will be renamed “PBT Group Limited”. The Board welcomes Murray into his new executive role which he also held prior to 2012.
Michael Buckham, current Financial Director of the Group, has decided to resign in order to continue his career with another listed company. However, Michael will remain with the Group until 31 January 2017 in order to finalise the delisting of PFH. We thank Mike for his valued contribution to the Group as Financial Director and wish him well in his new position.
Herman Steyn will fulfil the role of Chairman of PFH. In addition, we are pleased to announce the appointment of Willie Venter as Chief Executive Officer of PFH. Willie has been an integral part of the leadership team of PFH since 2007 and is well positioned to lead the financial services business. The executive teams of all of the operating subsidiaries will remain unchanged following the completion of the delisting.
Further to the Circular to Shareholders posted on 30 September 2016, PFH is in continuing negotiations with respect to BEE ownership transactions at the levels of PFH and Prescient Investment Management. These transactions are expected to conclude in early 2017, concurrently, or soon after the delisting of PFH.