Peregrine Holdings Limited announced that Nomfanelo Magwentshu and Lungile Ndlovu are to retire from office at the annual general meeting of the company to be held during October 2013. Nomfanelo and Lungile, who have served as non-executive directors of the company since 1 July 2011, with Nomfanelo also being a member of the audit committee, have both advised that, although being eligible, they will not be offering themselves for re-election. Stefaan Sithole will be appointed as an independent non-executive director of the company, will serve on the audit committee and also be appointed as chairman of the social and ethics committee.

In 2001 Stefaan became a partner at Sithole AB & T Incorporated and since 2002 he has been the managing partner of Sithole Incorporated and Sithole SS Chartered Accountants. His relationship with Peregrine commenced in November 2006 when he became trustee of Peregrine's three empowerment trusts and was later appointed to the board of Nala Empowerment Investment Company and Peregrine SA Holdings.