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SANRAL-CFO Resignation
The South African National Roads Agency SOC Limited
Incorporated in the Republic of South Africa
(Registration number 1998/009584/30)
Alpha code: BINRA
("SANRAL" or the "Company")
RESIGNATION OF THE SANRAL CHIEF FINANCIAL OFFICER
On the 7th of September 2023, SANRAL advised noteholders that Ms Inge Mulder, the Chief
Financial Officer ("CFO") at SANRAL, was on temporary leave of absence until further notice, pending
internal processes that were underway at SANRAL.
The CFO joined SANRAL in 2003, and has worked for the organisation for over 21 years as its CFO.
After several years at SANRAL, the parties have agreed to the termination of the CFO's employment
with effect from 31 July 2024. Accordingly, SANRAL hereby advises noteholders and investors that
the CFO's employment with SANRAL will terminate with effect from 31 July 2024.
SANRAL thanks the CFO for her service to the organisation during the last 21 years and wishes her
the best in her future endeavours.
From the time that the outgoing CFO commenced her temporary leave of absence, to date, SANRAL
ensured that appropriate measures were in place to ensure business continuity. To this end, Mr
Dumisani Maluleke (CA (SA)), who has been the Deputy CFO at SANRAL since February 2014, was
appointed by SANRAL as the Acting CFO in the outgoing CFO's absence and he was responsible for
the completion and public release of SANRAL's Integrated Annual Report of 2023, incorporating the
audited annual financial statements for the year ended 31 March 2023. In light of the CFO's
departure, the Acting CFO will continue to perform all the duties and responsibilities for the position in
which he has been appointed to act. He has the full support and oversight of the Chief Executive
Officer and the Board of Directors of SANRAL at all material times.
The process to appoint a permanent CFO will commence shortly and noteholders and investors will
be informed accordingly once the appointment has been made.
It should be noted that, in terms of the SANRAL Act, No.7 of 1998, the CFO is not a director of
SANRAL but forms part of the executive management.
16 July 2024
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 16-07-2024 05:12:00
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