Gold Circle-Press Release

Following the Gold Circle AGM held at Greyville on Tuesday 5 December 2017, and the subsequent meeting of the Board of Directors on Thursday 7 December 2017, Gold Circle is pleased to announce that Dr Phumla Mnganga has been re-appointed as Chairperson and Mr Moses Tembe has been re-appointed as Vice Chairperson of the company.

Ms Candice Pillay has been appointed as Chief Financial Officer and will take over from Mr Stuart Gardner who has been acting in this position. Candice will commence her function on 1 April 2018.

Mr Neil Butcher will retain his office as Chairman of the Gold Circle Racing Club and Mr Babu Nunan has been re-appointed as Vice Chairman of the Club.

The composition of the Board of Gold Circle is as follows:

Dr Phumla Mnganga – Chairperson
Mr Moses Tembe – Vice Chairperson
Mr Neil Butcher – Director
Mr Koos de Klerk – Director
Mr Paul Lafferty – Director
Mr Michel Nairac – CEO
Ms M Nhlanhla – Director
Mr Babu Nunan – Director
Mr Greg Petzer – Director
Ms Candice Pillay – CFO
Mr Zwile Zulu – Director

I'm sure someone previously posted the salaries these people receive. Will be interesting to see what they earning these days

CIRCLE PROPRIETARY LIMITED ANNUAL REPORT 2017 - For the year ended 31 July 2017 11
Corporate Governance
Remuneration “R”
P Mnganga 4/4 - - - - 4/4 120 000
M Tembe 3/4 - - - - - 75 000
N P Butcher 3/4 3/3 2/2 - 5/6 - 112 500
J H S De Klerk 4/4 3/3 2/2 - 6/6 - 124 000
P V Lafferty 4/4 - - 2/3 5/6 - 100 500
S Naidoo 3/4 - - - - - 55 000
M M Nhlanhla 4/4 - - - - 3/4 83 500
L Nunan 3/4 - - - 6/6 3/4 104 500

2017 2016
29.3 Directors’ remuneration
N P Butcher 112 500 112 500
J H S de Klerk 124 000 109 000
P V Lafferty 100 500 80 500
P L Loker 1 565 291 1 402 800
P J Maujean 950 000 1 200 000
M J R Mauvis - 40 000
P Mnganga 120 000 104 000
D R Moses - 800 000
S Naidoo 55 000 50 000
M J L Nairac 2 594 000 2 400 000
L Nunan 104 500 97 000
G Petzer 97 000 77 000
L E Rakharebe - 90 500
S H Marshall 700 000 -
D T Moodie 696 280 -
M Tembe 75 000 73 500
M M Nhlanhla 83 500 30 000
G T Hawkins 1 250 830 1 402 800
A J Rivalland 838 250 770 000
S N Mthethwa - -
Z Zulu 72 000 -
9 538 151 8 839 600
Directors fees are payable to all directors. This include fees for attendance at board meetings only. M J L Nairac and A J Rivalland,
received a contracting fee for services rendered to the companies in the group. P L Loker, G T Hawkins, S H Marshall, D T Moodie
and P J Maujean received remuneration for services rendered to companies in the group.