OCEANA GROUP LIMITED - Termination Of Employment Of Chief Financial Officer And Executive Director

Termination Of Employment Of Chief Financial Officer And Executive Director

OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or “the Company” or “the Group”)

TERMINATION OF EMPLOYMENT OF CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR (H KARRIM)

Shareholders are referred to the SENS announcement of 7 February 2022 wherein the board
of directors of Oceana notified shareholders that it had on a precautionary basis and pending
a further process, suspended the Company’s Chief Financial Officer, Ms Hajra Karrim until
further notice.

In accordance with section 3.59 of the Listings Requirements of the JSE Limited, shareholders
are informed that the contract of employment between the Company and its Chief Financial
Officer Ms Hajra Karrim has been terminated with immediate effect. Ms Karrim’s departure
results from the completion of a disciplinary procedure that resulted in her summary dismissal
based on findings of gross misconduct. The disciplinary process was chaired by a retired judge
of the Supreme Court of Appeal.

As a result of the termination of her employment, and pursuant to the provisions of the
Companies Act, 71 of 2008, the tenure of Ms Karrim’s appointment as an ex-officio director of
the Company has also ceased.

Mr Ralph Buddle will continue to serve as Interim Group Financial Officer while the Company
completes the process of appointing a suitable replacement for Ms Karrim and a further
announcement will be made in this regard in due course. The board is pleased to also welcome
Mr Ralph Buddle to the board of directors as an ex-officio executive director, effective
immediately.


Cape Town
3 June 2022

JSE Sponsor
The Standard Bank of South Africa Limited

Namibian Sponsor
Old Mutual Investment Services (Namibia) Proprietary Limited

Date: 03-06-2022 12:33:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.