AECI Ltd. announced that Group Chief Executive Officer (“CEO”) Mark Anthony Dytor will formally retire with effect from 31 July 2023. Shareholders and noteholders are advised that Mark has decided to accelerate his retirement which will take effect from 31 January 2023 to pursue other interests. Furthermore, as announced on SENS on 27 July 2022, the AECI Board of Directors has initiated an extensive search process to identify a permanent Group CEO.

The search process is being led by the Chairman of the Board, Dr. Khotso Mokhele and supported by a Search Committee compromising both local and international directors. The appointment of a suitable successor is at a very advanced stage of conclusion. In the interim, the Board has appointed Mr. Sam Coetzer, a current Independent Non-Executive Director of AECI, as acting Group CEO with effect from 1 February 2023 until the Board has completed its CEO appointment process.