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2018/05/25, 16:09:00
Johannesburg Stock Exchange - SENS NEWS DELAYED
Notice of Changes to the Board Directorate and Composition of Massmart Board Committees

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Company registration No. 1940/014066/06
JSE Code: MSM
ISIN: ZAE 000152617
("Massmart" or the "Company")


NOTICE OF CHANGES TO THE BOARD DIRECTORATE AND COMPOSITION OF MASSMART BOARD
COMMITTEES

BOARD DIRECTORATE

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the Massmart Board is pleased to
inform shareholders that Ms. Olufunke (Funke) Ighodaro has been appointed as a non-executive director of the
Company and a member of the Massmart Audit and Risk Committees with effect from 25 May 2018.

Ms. Ighodaro’s accomplishments as a seasoned corporate executive have seen her play a vital and strategic role
in a number of corporates, where she served and continues to serve in various governance structures. She
currently serves as independent non-executive director and audit committee member of Datatec Limited,
independent non-executive director of the Institute of Chartered Accountants in England and Wales Members’
Advisory Board for Africa, independent non-executive director and chairperson of the audit committee at
Transaction Capital Limited and interim executive director and Chief Financial Officer of Emerging Markets
Telecommunications Services Limited, (formerly Etisalat Nigeria, now trading as 9mobile).

Previously, Ms. Ighodaro held various senior executive roles, including as Chief Financial Officer of Tiger Brands
Limited until 2016, Chief Financial Officer of Primedia Limited until 2011 and executive director of Kagiso Trust
Investments and managing director of its private equity business until 2001.

Ms. Ighodaro holds the degree B.Sc (Hons) from Salford University and is a Fellow of the Institute of Chartered
Accountants in England and Wales.

Ms. Ighodaro brings to Massmart a wealth of experience and expertise earned in various sectors, including FMCG,
corporate finance and investment management, media and telecommunications, and she will be a great addition
to the Massmart Board and its Committees.

MR. CHRIS SEABROOKE

Further to announcements made to shareholders by the Board of Directors of the Company on 04 July 2017 and
13 September 2017, shareholders are hereby informed that Mr. Chris Seabrooke, the current Deputy Chairman
of the Board, the Lead Independent Non-Executive Director and Chairman of the Massmart Audit, Risk and
Remuneration Committees will retire from the Board and its Committees with effect from
30 September 2018.

The Board, Massmart Executive Committee and management would like to extend their appreciation to Mr.
Seabrooke for his significant and immense contribution to the Massmart business over the past 18 years. The
Massmart Board, the Executive Committee and management wish Mr. Seabrooke all of the very best in his future
endeavors.

AUDIT AND RISK COMMITTEES

Ms. Ighodaro will succeed Mr. Chris Seabrooke as the Chairman of the Audit and Risk Committees with effect
from 01 October 2018.

Mr. Kuseni Dlamini, the Chairman of the Massmart Board resigns as an alternate member of the Audit Committee
with effect from 25 May 2018.
REMUNERATION COMMITTEE

Ms Phumzile Langeni, the current Chairman of the Social & Ethics Committee and member of the Nominations
and Remuneration Committees will succeed Mr. Chris Seabrooke as the Chairman of the Remuneration
Committee with effect from 01 October 2018.


25 May 2018

Sponsor
Deutsche Securities (SA) Proprietary Limited

Date: 25/05/2018 04:09:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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