GNDE - GRINDROD LIMITED - Change in Directorate

01/06/2017 11:05:00

GNDP GND 201706010027A
Change in Directorate

(Incorporated in the Republic of South Africa)
(Registration Number: 1966/009846/06)
ISIN: ZAE000072328 & ZAE000071106
(“Grindrod” or "the Company")


In compliance with paragraph 3.59(a) of the Listings Requirements of the JSE Limited, shareholders are
hereby advised that Alan Olivier, the Group's Chief Executive Officer (CEO), will with effect from 31 July
2017 take early retirement to pursue personal interests. Alan will remain available to the Shipping
Division in a consulting capacity.

On behalf of the Board, we would like to thank Alan for his contribution to the Group over the past 31
years, the last 10 years as CEO. We wish him well in his future endeavours.

The three Grindrod divisions will continue to be managed by the skilled management team, Bongiwe
Ntuli (Freight Services), Martyn Wade (Shipping) and David Polkinghorne (Financial Services).

Michael Hankinson has agreed to act as Executive Chairman in the transitional phase, with Andrew
Waller, Group Financial Director, supporting him. The Board will begin the process of appointing a Group
CEO and notify the market accordingly. Nkululeko Sowazi will be the Lead Independent Non-Executive
Director of the Board.


1 June 2017

Sponsor: Grindrod Bank Limited

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