JOHANNESBURG - Basil Read’s chief financial officer and finance director Pieter van Buuren has resigned his position at the financially troubled listed construction group.
His resignation follows Basil Read Limited, a wholly owned subsidiary of Basil Read Holdings, that houses the construction division, voluntarily commencing with business rescue proceedings on June 15 this year.
The company said yesterday that Van Buuren’s resignation was effective from September 21. It said he had resigned “to pursue other interests”.
Basil Read’s board said it would make a further announcement in due course on the appointment of a chief financial officer to replace him.
The company previously announced that company secretary Andiswa Ndoni had resigned. Ndoni left Basil Read on Friday. Khathutshelo “K2” Mapasa, the chief executive of Basil Read, confirmed last week that the group had secured R265million in post-business rescue commencement funding, a crucial element in the successful execution of its business rescue plan.
Basil Read’s business rescue practitioners last week published the business rescue plan for the construction division.
- BUSINESS REPORT