The board of directors of African Phoenix Investments Limited notified its Shareholders that, with effect from 6 November 2019: Ms. Alethea Conrad (Lea) has resigned as an independent non-executive director and Chairperson of the Board; and Ms. Thiru Pather (Thiru), Ms. Reshma Mathura (Reshma) and Mr. Alton Solomons (Alton) have resigned as independent non-executive directors. Appointing each of Messrs Nick Sennett, Andrew James Hannington and Tshepo Maseko as non-executive directors of the company. Zarclear has proposed that the Board would benefit from the appointment of additional non-executive directors with "deep accounting and relevant and varied financial services experience and expertise". In support of its proposal, Zarclear has nominated each of Messrs Nick Sennett, Andrew James Hannington and Tshepo Maseko for election to the Board. The resignations of Lea, Thiru, Reshma and Alton will create space for the aforementioned nominated non-executive directors to present an alternative potential strategy for the Company going forward.