Comparex`s corporate finance director, Carel van der Merwe, has resigned with effect from today.
CEO Rian du Plessis says Van der Merwe`s decision was made for family and personal reasons.
John Cohen, the group`s human resources and legal director, is to assume responsibility for corporate finance.
This post, together with his current responsibilities, will be consolidated into a new group corporate services function.
"During the past year Carel helped to assemble an extremely capable corporate finance team, with three experienced professionals in London and one in SA," says Du Plessis.
He adds that Comparex is committed to expanding its presence in the territories in which it is represented as well as to moving into other European countries.
"The extreme volatility in the global technology stock markets since the beginning of the year resulted in a delay in implementing suitable acquisitions.
"We have been particularly cautious in preserving shareholder value in all targeted acquisitions. We are actively evaluating a number of opportunities and remain confident that one or more of these will be concluded in due course."
The Comparex share was trading 30c or 2.97% higher at R10.40 on the JSE by mid-morning.
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