25 Jul FORMAL RESIGNATION FROM THE BOARD OF THE INDUSTRIAL DEVELOPMENT CORPORATION
Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa) Registration No. 1940/014201/06)
Bond Issuer code: IN02 (“IDC”)
CHANGES TO THE BOARD
Noteholders are referred to the announcement released on SENS on the 27 June 2025 regarding the appointment of directors subject to verification of qualifications and relevant security clearance. Dr Nomusa Dube-Ncube (“Dr Dube-Ncube”) who was appointed as a non-executive director, has since withdrawn from the IDC Board appointment with effect from 23 July 2025 following her recent appointment by His Excellency, President Matamela Cyril Ramaphosa, to serve the Republic of South Africa as Deputy Minister of Higher Education and Training.
Noteholders are further advised that Dr Ncube-Dube’s term of office on the IDC Board had not yet commenced at the time of her appointment as Deputy Minister of Higher Education and Training and IDC would like to wish Dr Dube-Ncube all the best in her new endeavor.
The process of identifying a suitable replacement has commenced and will be announced as soon as such an appointment has been made.
Johannesburg
24 July 2025
Debt Sponsor
The Standard Bank of South Africa Limited
