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18
JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
The funding negotiations with Escalator Capital Limited,
subsequent to the 30 June 2010 financial year end, re-
sulted in a change of the board members which began in
in September 2010 and was concluded in February 2011
with the appointment of Richard Connellan, the non ex-
ecutive chairman of the group. The initial focus of the
new board is to provide a analysis of the business with
the objective of improving the financial performance of
the group and unlocking shareholder value.
The principal aspects of the process followed by the
board involved:
•
Evaluation of the operations of the two subsidiaries,
the markets they trade in and the intrinsic potential
of the businesses;
•
Assess the strategic direction of the business; and
•
Implement corporate governance structures ensur-
ing compliance to acceptable business practice.
The next phase is to embark on a strategic acquisition
process in order to increase the volume and value of sub-
sidiary holding. The table below represents the changes
from the previous annual report.
Retiring/previous
New appointments
Implementation
Executive directors:
LF Rehrl
No changes
February 2011
Non-executive directors:
No changes
KA Rayner
RJ Connellan
January 2011
February 2011
Company Secretary:
DP van der Merwe
TM Jonker
October 2011
Auditors:
No changes
No change
September 2010
Registered Address:
Business address:
Business address:
4 SS Building 9
Tijger Valley
Silver Lakes Road
Pretoria
0081
1st Floor, Bushwillow House,
Green Hill Village Office Park,
Lynnwood Road,
Cnr Botterklapper & Nentabos Street,
The Willows,
Pretoria East.
September 2011
Postal address:
Postal address:
PO Box 1243
Stellenbosch
7599
PO Box 39660
Garsfontein East
0060
Group Restructure