REVIEW OF OPERATIONS

THE BOARD REQUESTED THAT MANAGEMENT "PROGRESS KEY PROJECTS, WHILE CAREFULLY REVIEWING ALL OTHER CAPITAL EXPENDITURE". MANAGEMENT REDUCED ITS CAPITAL BUDGET BY R250 MILLION BY DELAYING SOME REPLACEMENT AND LESS URGENT CAPITAL EXPENDITURE PROJECTS. OF THE R1,2 BILLION SPENT ON CAPITAL EXPENDITURE, R738 MILLION WAS INVESTED IN THE STRATEGIC CAPITAL PROGRAMME.

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REVIEW OF OPERATIONS: CHEMICAL SERVICES LIMITED MANAGEMENT TEAM

1 FRANK BAKER (56)
Outgoing managing director and an executive director of AECI.

2 MARK DYTOR (48)
Having joined Chemserve as a sales representative in 1984, and after successfully managing two group companies, Mark was appointed to Chemserve's executive committee in 1998 and subsequently to its board. He is Chemserve's acting managing director. In addition to this and his portfolio of chairmanships, he has been tasked with the growth of Chemserve's mining chemicals business. Within the AECI Group, he is a non-executive director of AEL.

3 OSCAR LORETI (46)
He joined Chemserve as group technical manager in 2007 and his qualifications include a Masters degree in technology mechanical engineering. Oscar is responsible for driving the group's SHE management system, ensuring that technical standards are set and maintained, and ensuring that expansion projects are completed professionally. Before joining Chemserve, he had gained experience in engineering-related activities in the steel industry.

4 CHRIS KOTZE (44)
Chris joined Chemserve's quality assurance department in 1990. He was appointed to his current position as group information technology manager
in 1998. His qualifications include a BSc degree and a diploma in Datametrics.

5 EDWIN LUDICK (45)
Edwin joined the Chemserve group as a human resources manager in 1991, was appointed to its executive committee in 2008 and to its board in January 2010. He is currently managing director of Chemserve Systems, having managed other group businesses prior to this. He has a BCom (Hons) degree.

6 JOHN MAHLASE (48)
He is Chemserve's group human resources manager and, formerly, its industrial relations manager. Before joining the group as a human resources consultant in 1997, John had gained extensive experience in the discipline. He has an Honours degree in industrial psychology as well as an Advanced Diploma in labour law.

7 CHRIS POVALL (52)
Chris joined the company 12 years ago as financial manager and was appointed to Chemserve's executive committee and board as financial director in 2006. Prior to his Chemserve career, he had gained experience in the auditing field and had been financial director of a major media company. Chris has a BCom degree and is a qualified chartered accountant.

8 SCHALK VENTER (43)
With a qualification in analytical chemistry, Schalk joined Chemserve Systems in 1991 as a sales representative. He was appointed managing director of this subsidiary in 1997 and moved to AECI Coatings in the same capacity in 2001. He was appointed to the Chemserve executive committee in 2005 and to its board in 2007. He is currently managing director of Akulu Marchon.