9 Jul 2008 09:00
AECI LIMITED
(Incorporated in the Republic of South Africa)
Registration No. 1924/002590/06
Share code: AFE ISIN No. ZAE000000220
("AECI" or "the Company")
HEARTLAND PROPERTIES: APPOINTMENT OF CEO
AECI is pleased to announce that Anthony Diepenbroek (51) has been appointed Chief Executive Officer of Heartland Properties, which is tasked with realising value from land that has become surplus to the Company's needs. The land is located in Modderfontein, adjacent the N3, and at Somerset West, adjacent the N2, and is some 2 320 hectares in extent. Heartland Properties' objective is to make most of this land available for redevelopment into commercial, industrial and residential use over the next 10 to 15 years.
Mr Diepenbroek has more than 20 years' experience in a broad range of property- and development-related fields. These include construction and project management; sales and marketing; infrastructure and facilities planning; and the management of property portfolios, assets and property investment funds at executive level. In addition, he has served as managing director of other JSE Limited-listed entities in the property sector.
Mr Diepenbroek's qualifications include BSc (Civil Engineering) and Master of Business Administration degrees. He is registered as a Professional Engineer with the Engineering Council of South Africa and is a past president of the South African Property Owners Association.
AECI is confident that, with his visionary guidance and strategic approach to land redevelopment, Heartland Properties will continue to deliver value that meets shareholders' expectations in the years ahead.
Mr Diepenbroek's appointment will take effect on 21 July 2008. He will also join AECI's Executive Committee at that time.
Woodmead, Sandton
9 July 2008
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
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