Adcorp Holdings Limited advised that Mr. Timothy Olls has been appointed as an alternative non-executive director to Mr. Samuel Sithole of Adcorp with effect from December 6, 2021. Mr. Olls is an investment professional at Value Capital Partners. Prior to joining VCP, he was a Manager in the Mergers and Acquisitions team at PwC. He holds a Bachelor of Commerce with Honours in Accounting cum laude from Nelson Mandela University, is a registered Chartered Accountant (South Africa), and has passed all 3 levels of the CFA Program and completed the required work experience. The Board is confident that Mr. Olls' skills and expertise align with the current needs of the Company. Shareholders are also advised that Mr. Monde Nkosi will be stepping down as non-executive director of Adcorp effective June 1, 2022.