Reunert Limited announced that Mr. Brand Pretorius and Mr. Rynhardt van Rooyen, long-serving independent non-executive directors of the Company, will retire from the Reunert board of directors ("Board"), at the upcoming annual general meeting of Reunert, scheduled to be held on 10 February 2020 (the "2020 AGM"). Shareholders are further advised that, immediately following the 2020 AGM: and subject to the passing of the relevant resolutions, Mr. Pierre Fourie, an independent non-executive director of the Company, will succeed Mr. van Rooyen as the chair of the Audit Committee; and Mr. John Hulley will succeed Mr. Pretorius as chair of the Risk Committee.
Reunert Limited is a diversified group organized around 3 areas of activity:
- electric engineering services (51.9% of net sales): design, manufacturing, installation and maintenance of electric cables, fiber optics, transformers, low, medium and high voltage switching systems, etc. primarily for the public services, mining industry and real estate construction sectors;
- telecommunication services (22.2%): design and development of office solutions and vocal communication systems, and networking of data for professionals, individuals, government administrations and parastatal companies;
- design and manufacturing of defense systems and equipment (25.8%): communication tactic systems, terrestrial and naval research systems, fuses, artillery products, etc.;
- other (0.1%).
Net sales are distributed geographically as follows: South Africa (70.8%), Africa (15.1%), Asia (5.6%), Europe (4.9%), Australia (1.9%) and Americas (1.7%).