The JSE-listed technology group known to most people as Altron, but which is technically Allied Electronics Corporation, is changing its name … to Altron.

The name change will be voted on by shareholders at the company’s AGM, which will take place online on 28 July.

“The proposed amended name of the company, to Altron Limited, was approved and reserved for use by the Companies and Intellectual Property Commission from 7 June 2021 until 7 December 2021 and the name Altron Limited was approved by the JSE on 31 May 2021,” Altron said. “The new name of the company will be reflected as Altron Limited, with its abbreviated name being ‘Altron’.”

The JSE short code remains “AEL”. There will be no change to the ISIN and JSE codes, Altron said.

Meanwhile, in a separate development, Altron said its chairman, Mike Leeming, will retire from the board and the various board committees on which he serves at the AGM. It follows the resignation last month of chief financial officer Cedric Miller.

New director

“An announcement on the appointment of a chairman will be published once a decision has been adopted by the board,” Altron said.

At the same time, the company has appointed Alupheli Sithebe as a non-executive director and member of the audit committee with effect from 28 July, subject to approval at the AGM.

Sithebe was founding member and MD of Kamva Advisory & Associates, a financial services consulting business. She later joined the Industrial Development Corp as a senior dealmaker, and her most recent experience includes deal origination and investment execution at Senatla Capital, a mid-market private equity fund and principal of African Phoenix Investments. – © 2021 NewsCentral Media