GC Press Release

Gold Circle wishes to advise Members of the resignation of Mr Moses Tembe as a Director and Vice Chairman of Gold Circle and a Director of the Gold Circle Racing Club.
Gold Circle expresses its appreciation for the considerable contributions made by Mr Tembe over the last few years.
Mr Tembe will not be lost to the industry as he has recently been appointed to the Board of Phumelela Gaming and Leisure as Lead Independent Director.

interesting no restraint of trade agreement or such in the staff contracts.

Two months after the dude crosses the floor, GC tell their members. WTF

PHUMELELA GAMING & LEISURE LIMITED - Appointment of Lead Independent Director
Release Date: 21/09/2018 14:40
Code(s): PHM

Appointment of Lead Independent Director

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


Appointment of Lead Independent Director



The Board is pleased to announce the appointment of Mr Moses Tembe as Lead
Independent director with immediate effect.

Mr Tembe holds a BA degree in Public Administration and Political Science from the
University of South Africa, as well as the Caltex sponsored Business Management
Programme from the University of Cape Town.

In his career, he has held various senior positions, amongst others; Secretary-General
of Inyanda (KZN NAFCOC), President of the Durban Chamber of Commerce and
Industry, Vice-Chairman: KZN Business Initiative, Chairman of the eThekwini
Community Foundation and member of the Board of the Durban Infrastructure
Development Trust. He currently serves as Vice-Chairman of Gold Circle Racing and
Gaming Group.

With over 30 year’s business experience, he has received numerous awards, including
the Ithala Business Award and Investec Entrepreneur Award.

He also served on Boards of various JSE listed companies, including the Mr Price
Group, Santova and Beige Holdings.

The Board welcomes Mr Tembe and looks forward to his valuable contribution.

In compliance with the Companies Act (71 of 2008) and the company’s memorandum
of incorporation, the above appointment shall be put to shareholders for approval at
the upcoming annual general meeting on 11 December 2018.




Johannesburg
21 September 2018


Sponsor and Investment Bank
Investec Bank Limited

Is it incompetence? Maybe negligence? Maybe the well managed conflict of interest directors were busy managing their conflicted interests........Wait a few weeks and it will be defended as "Nay Sayers" ignoring the good work GC are doing.......

Nothing will change until there is a management overhaul..... until then GC will continue to bleed owners without attracting any new ones.

Maybe it's because GC have only recently received his official resignation as a director.

But who cares, as long as gossip rules the racing industry

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Maybe because it is only going to be ratified on the 11th December by shareholders according to the Phumelela release?