Rian Du plessis resigns

Resignation of Chief Executive Officer

Phumelela Gaming & Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
Share code: PHM ISIN: ZAE000039269

RESIGNATION OF CHIEF EXECUTIVE OFFICER (“CEO”)


In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of directors
of Phumelela Gaming and Leisure Limited ("the Board") hereby notifies its shareholders that Mr Rian du
Plessis has tendered his resignation as CEO of Phumelela Gaming and Leisure Limited (“the Company”)
for personal reasons, effective from 17 September 2018. Rian has committed to assist his successor until
the end of March 2019 to ensure a smooth transition.

Rian has full confidence in the Company’s executive management team, underlying business
fundamentals and strategic direction and has undertaken not to dispose of any Phumelela shares held
directly or indirectly by him, his family or otherwise in the foreseeable future.

The Board and management team would like to thank Rian for his valued service and contribution to the
Company over the past ten years. He led the development of a sophisticated business with multiple
revenue streams and has formed a management team supporting long term stability and growth. The
Board wishes Rian every success in his future endeavours.

The Board is pleased to advise that Mr John Stuart, the current Executive Director: International
Operations, has been appointed to fulfil the role as CEO.

With more than 39 years of experience in the horse racing and gaming industry, the Board welcomes
John’s increased participation in the business and looks forward to his ongoing contribution.

The Company’s financial results announcement scheduled for 5 October 2018 will be delivered by the
new CEO.

Read More www.sharenet.co.za/v3/sens_display.php?t...000&seq=56&scode=PHM

I smell a rat. This is all too sudden!!!

You know thats 2 major resignations in one week, in fact in one day, and they tell the owners the trainers nothing..we keep this thing called racing alive, surely if there are major problems people involved should be told more.

Something scary is brewing with these resignations in one day

What a great day. Two of Joostes yes men gone.

What a pity Larry is still around. I am hearing he spent the day with Michel Nairac. Time for him to move to his Mauritian investment and escape the inevitable scrutiny thats coming.

RATS ARE JUMPING

Watch the share trades...will give some insight...

CLOSING PRICE ( 17/09/2018)
Close 1,344
High 1,344
Low 1,325
Volume 949
Move 1 day 4.59%
Move 1 week 1.43%
Move 1 month -0.44%
Move MTD 1.43%
Move YTD -23.20%
Move 1 year -30.36%
Move 3 year -29.26%
Move 5 year -9.19%

.....Wow a Jooste man.... doing a Jooste.....all while the financials are currently being prepared for release at month end.....the timing of this resignation indicates that they can't be good.....unless this is an attempt at a damage control measure to try soften the bigger blow when investors find how bad the results really are ......

I have a feeling the results won't be bad. I think they will be fine. The problem I have is the infrastructure of racing in SA, closing all this tracks, no upgrades, no long term plans over the last decade for new better located and better equipped tracks will come home to roost the actual sport.

The few shareholders of Phum have done very very well since its inception thats for sure.

oscar wrote: I have a feeling the results won't be bad. I think they will be fine. The problem I have is the infrastructure of racing in SA, closing all this tracks, no upgrades, no long term plans over the last decade for new better located and better equipped tracks will come home to roost the actual sport.

The few shareholders of Phum have done very very well since its inception thats for sure.

.....I read with interest a poster on this matter in the SP recons that Duppie may have gotten out for personal financial gain so that he can sell off his shares.... and not being a director PHUM will no longer be subject to SENS announcements when he starts unloading his chop .....so the financials could still be respectable.....but for how long....as in the months to come Jooste has to liquidate his chop too.....:ohmy:

I was once invited by Phum and was sitting with Rian. I could not believe that he was busy punting the entire day and he gave us the Jooste tips as well.

Over the Air wrote: What a great day. Two of Joostes yes men gone.

What a pity Larry is still around. I am hearing he spent the day with Michel Nairac. Time for him to move to his Mauritian investment and escape the inevitable scrutiny thats coming.

RATS ARE JUMPING

Larry Weinstein is going nowhere, please substantiate these rumours.

How is the forensic audit going?

RIVERJ wrote:

Over the Air wrote: What a great day. Two of Joostes yes men gone.

What a pity Larry is still around. I am hearing he spent the day with Michel Nairac. Time for him to move to his Mauritian investment and escape the inevitable scrutiny thats coming.

RATS ARE JUMPING

Larry Weinstein is going nowhere, please substantiate these rumours.

How is the forensic audit going?

.....of course Larry is going no where....he has tenure at the RA for life..... or for as long as the R A is required.....but what if PHUM decides to un-bundle the assets and a move is made for a "racing club" model to take over the running of the racing assets.....the RA will be replaced by an all inclusive owners body that does not require any management with a track record of limited achievement.....:dry: