MNY - Moneyweb Holdings Limited - Media Announcement 30 March 2012

MEDIA ANNOUNCEMENT 30 MARCH 2012   

The board of Moneyweb Holdings has resolved to restructure its executive management.

As from April 1, the founder of the business, Alec Hogg, will be re-appointed CEO, a position he held from inception in 1997 until 2010. Current CEO Andrew Smith will remain an executive director of the company until 30 June, 2012. Dr Smith, who is based abroad, has been involved with Moneyweb since its listing in 1999, for most of the period as non-executive chairman. In the past two years he fulfilled a valuable role, during which time the company substantially refocused and increased the scale and depth of its platforms and turnover, particularly following the successful launch of looklocal.   

Current financial director John Donnelly, who also resides abroad, has played an important stabilisation role. He will relinquish his duties on June 30, 2012 in favour of a locally-based financial director who will be appointed at that time.

The directors of Moneyweb wish to express their sincere appreciation for the invaluable contribution of Dr Smith and Mr Donnelly.

Statement issued by Moneyweb, through the JSE Sens Service, March 30 2012

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