Raubex : Change in function of a director - appointment of governance, risk and compliance executive

In compliance with paragraph 3.59 of the JSE Listing Requirements, shareholders are advised of the following change to the function of a director.

The Company is pleased to announce that Mrs Ntombi Felicia Msiza, who joined Raubex as an Independent Non-executive Director in February 2011, has been appointed as an Executive Director responsible for Governance, Risk and Compliance effective from 1 March 2017.

Felicia is qualified with a Bachelor of Commerce degree, a Higher Diploma in Taxation and a Masters in Business Administration with distinction for her thesis on Corporate Governance and Business Ethics. She also has extensive work experience in the field of governance, including internal audit, external audit and risk management.

Felicia will join Raubex from Denel SOC where she currently serves as Group Chief Audit Executive. She previously served as Director of Risk and Assurance at City Power SOC, Head of Internal Audit at the Independent Development Trust (IDT) and as a Partner and Director at SizweNtsaluba VSP. Felicia also held a directorship position within the Institute of Internal Auditors of South Africa (IIASA) where she served on the Audit Committee and Public Sector Committee in addition to various roles in both the public and private sector.

Following the change in function of Mrs Msiza, the board will comprise of three executive directors and four non-executive directors, two of whom are independent. The company will seek to appoint an additional independent non-executive director in due course.

Koos Raubenheimer, Chairman of Raubex Group said, "We are very pleased to have Felicia on board in an executive position which not only demonstrates our commitment to transformation and gender diversity, but will further strengthen our corporate governance and compliance structures within the group"

Johannesburg 23 January 2017 Sponsor

Investec Bank Limited