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Textainer announces (i) retirement of director, and (ii) planned officer retirement, officer promotion and director nomination

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TEXTAINER ANNOUNCES (i) RETIREMENT OF DIRECTOR, AND (ii) PLANNED OFFICER RETIREMENT, OFFICER PROMOTION AND DIRECTOR NOMINATION

We draw attention to the following United States Securities and Exchange Commission filing made on 21 December 2016 by Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 48,2% beneficiary interest:

“Textainer Group Holdings Limited (“Textainer” or the “Company”) is announcing the following changes to its Board of Directors and Executive team:

  1. Mr. Isam Kabbani, a member of the Textainer Board of Directors retired from the Board effective November 18, 2016. Mr. Kabbani served on the Board of Directors since December 1993 and remains a long standing and significant shareholder in the Company. The Board and Company thank Mr. Kabbani for his many years of support to the Company and service on the Board. Mr. Kabbani served as a Class II director with a term ending at the 2018 Annual Meeting. At the present time the Board has determined not to fill the Board vacancy resulting from Mr. Kabbani’s retirement. 
  2. Mr. Robert Pedersen, the President and Chief Executive of Textainer Equipment Management Limited, has announced that effective March 31, 2017 he will retire from the Company. Mr. Pedersen joined the Company in 1991 and in 2006 was promoted to Executive Vice President responsible for worldwide sales and marketing activities. He has served as President and Chief Executive of Textainer Equipment Management Limited, Textainer’s wholly-owned subsidiary which provides container management, acquisition and disposition services for Textainer, since October 2011.
  3. Effective January 1, 2017, Mr. Olivier Ghesquiere, the Company’s Senior Vice President for Sales and Marketing will be promoted to Executive Vice President – Leasing. Mr. Ghesquiere joined the Company in December 2015.
  4. The Board of Directors currently intends to nominate Mr. Pedersen for service on the Board of Directors as a Class III director. The nomination will be included in the 2017 Proxy and if elected by the shareholders, Mr. Pedersen is expected to join the Board in connection with the Annual Meeting in May 2017.”

 

Trencor Services (Pty) Ltd
Secretaries
22 December 2016

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Home News 2016 News Textainer announces (i) retirement of director, and (ii) planned officer retirement, officer promotion and director nomination

About Trencor

TRENCOR LIMITED is an investment holding company listed on the JSE. Trencor benefits from operations that focus on owning, leasing, managing and trading marine cargo containers worldwide, and related finance activities. Trencor has a beneficiary interest in Textainer.

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