News

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

TEXTAINER ANNOUNCES CHANGE IN EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 48% interest:

“Hamilton, Bermuda, September 13, 2018 – Textainer Group Holdings Limited (NYSE: TGH) (“Textainer”), one of the world’s largest lessors of intermodal containers, today announced that effective September 30, 2018, Hilliard C. Terry, III, the Company’s Executive Vice President and Chief Financial Officer, will leave the Company to pursue other opportunities outside the industry. At that time, Michael K. Chan, currently the Company’s Senior Vice President of Finance, will be promoted to Executive Vice President and Chief Financial Officer.

Mr. Terry joined Textainer in January 2012 as Executive Vice President and CFO. He previously worked at Agilent Technologies, Inc. as Vice President and Treasurer. Mr. Chan re-joined Textainer in April 2017 from Ygrene Energy Fund where he served as CFO and was responsible for raising nearly $1 billion in capital for the residential and commercial clean energy lender. Mr. Chan previously was Senior Director of Treasury and Capital Markets for The Cronos Group, a global intermodal container leasing company, and he held the CFO position for The Chartres Lodging Group. Mr. Chan was Textainer’s Corporate Controller from 1994 through 2006. Mr. Chan is a member of the American Institute of Certified Public Accountants (AICPA).

“I wish to thank Hilliard for his many contributions to Textainer over the past seven years and wish him the very best in his future endeavors” said Olivier Ghesquiere, President and Chief Executive Officer of Textainer. “Textainer has greatly benefited from Hilliard’s extensive public company experience, as well as his strong treasury and investor relations capabilities especially during the numerous asset-backed note and bank loan transactions undertaken during his tenure.”

Mr. Chan returned to Textainer seventeen months ago after gaining significant experience as CFO and in senior finance roles in several industries. “Michael’s prior CFO experience coupled with his 12 years of experience at Textainer earlier in his career and tenure with Cronos, another leading container lessor, has allowed him to seamlessly transition back into Textainer over the past year and has prepared him well for his new CFO role. Over the past year, Michael and Hilliard have worked together on nearly $3 billion of financing transactions and we are confident that Hilliard is leaving Textainer in a sound financial position and with a capable successor in Michael Chan,” said Mr. Ghesquiere.

Contact:

Textainer Group Holdings Limited

Hilliard C, Terry, III
Executive Vice President and Chief Financial Officer
Phone: +1 (415) 658-8214

Michael K, Chan
Senior Vice President, Finance
Phone: +1 (415) 658-8261
ir@textainer.com

Trencor Services (Pty) Ltd
Secretaries
14 September 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)