KAP Industrial Holdings Limited announced that in terms of the Board's forward-looking succession plan, Mr. Johan Holtzhausen has been appointed as an independent non-executive director of the Company with effect from 1 March 2023. Until the recent unbundling and delisting of PSG Group Limited from the JSE, Johan (52) served as an executive director and a member of its executive committee, during which tenure he was closely involved in the strategic management of investments, as well as the acquisitions, capital raisings and disposals of the group. During his career of almost two and a half decades within the PSG group, he also served in a non-executive capacity on the boards of numerous other companies.

Johan is currently the chairman of the board of directors of CA Sales Holdings Limited, a JSE listed company, which operates in the fast-moving consumer goods sector across southern Africa. Johan has more than 24 years of corporate finance and private equity experience and has been involved in numerous listings, mergers and acquisitions, capital raisings, disposals, cross-border transactions, large private equity and BEE transactions in South Africa, as well as abroad. He has advised various companies on the JSE and TRP regulations, as well as on key corporate governance issues.

Johan is also a member of the JSE Issuer Services Advisory Committee. Johan is an admitted attorney and a JSE approved equity and debt executive. He obtained his BIuris (cum laude) and LLB degrees from the University of the Free State and a HDip Tax (dissertation on transfer pricing) from the University of Johannesburg.

During his earlier career at Edward Nathan Sonnenbergs, he received a Ministerial appointment to adjudicate tax appeals at the Special Income Tax Court. Johan's skillset, experience and expertise, and his extensive and diverse professional network, are expected to bring fresh thinking and perspectives to the Board's deliberations. The Board welcomes Johan and looks forward to his contributions to the future growth and development of KAP.