BORALA MINING (PTY) LTD

( Mining & Suppliers of Engineering Products & Services )

Reg No : 2000/026039/07

OUR

MISSION

“TO BECOME ONE OF THE LEADING BBBEE COMPANY THAT STRIVES

TO ENHANCE ECONOMIC AND BUSINESS ASPIRATIONS OF THE

PREVIOUSLY DISADVANTAGED ENTREPRENEURS IN THE MINING AND

SUPPLY OF ENGINEERING PRODUCTS.”

2000

Corporate Member of NAFCOC

1. BACKGROUND

BORALA MINING (PTY) LTD is a Broad Based Black Economic Empowerment

Mining Group that was founded in 2000 by black technical professionals, Women

Engineers and Lesiba Family Education Foundation in Polokwane, South Africa.

Mining Engineers and Accountants – During underground mine

Inspection and financial valuation process

Borala owns and operates some of its assets through partnerships with

international companies which boosted its track record and portfolio in the mining

sector. The also possess credibility and technical expertise through some of its

subsidiaries and joint venture arrangements as well as its individual directors’

experiences and contacts. The company is managed by entrepreneurs with

business focus and expertise in Mining Engineering; Business Administration,

Structural, Civil & Electrical Engineering consulting as well as the distribution of

Engineering products such as:

Bearings

Seals

V-Belts

Timing Belts

Polly V Pulleys

Conveyer Belts and Accessories

Chains and Sprockets

Borala Mining’s mainstream business activity is to act as a Holding company that

identifies, explore, develop and operate business and investment opportunities.

The company negotiates on behalf on its shareholders and subsidiaries for the

acquisition of prospecting rights and mining rights as well as the procurement

supply of engineering related mining products and also to engage in the repair

and maintenance.

The company is currently having at least five areas of interest namely:

Platinum Group Metals (PGMs) - through Palala Resources in

Smokey Hill Platinum and Limpopo Platinum Holding in

Sekhukhuneland and other low cost assets in Thabazimbi

Chrome assets Thabazimbi

Coal assets in Mpumalanga, Waterberg Limpopo and Musina

Some of the Products

The company distributes Engineering Products like Ball Bearings,Roller Bearings, Seals, V-Belts, Timing Belts, Poly V Belts, Chains and Sprockets, Taper Lock Bushes, V- Pulleys, Poly V

Pulleys, Air and Hydraulic Hoses, Conveyor Belts and Accessories,Crocodile Fasteners, Electric Motors and Gearboxes, Lagging Material and Conveyor Belt Bonding Material

(Tigrostick SC 022).

Dimension Stones and Beneficiation Initiatives in Limpopo & North

west

Gold and Diamond in Giyane, Pietersburg green stone belts

through interest in Palala Resources and Buttonskops Prospecting

& Exploration.

Oil and Gas – in South Sudan and Energy in South Africa

This led to the formation of Borala Platinum; Borala Coal; Borala Fero-chrome;

Borala Gold & Diamond and Borala Dimension Stone & Processing; Borala

Energy & Oil; Bitumen and Supply of Mining /Engineering Equipments &

Machines.

2. AIMS AND OBJECTIVES

Apart from acting as the investment holding for black entrepreneurs wishing to

engage in mining and the supply and distribution of mining or engineering related

goods and services, Borala has the following strategic objectives to fulfill:

Identification and negotiation of viable business opportunities for the

interest of its shareholders and the mining companies (clients).

Form Joint Ventures and Partnership in Mining and Prospecting with

Established Big Companies

Champion the supply and distribution of mining products and services

within the mining houses or projects in the whole South Africa and the

African Continent

Act as an umbrella body in directing and driving the activities of black

entrepreneurs.

Empowerment of enterprising individuals and PDI companies to take

responsibility for their own circumstances through entrepreneurial skills

development.

3. OUR FOCUS / SUBSIDIARIES

In view of its emphasis and focus on broad based empowerment and

professionalism in business, Borala Mining (Pty) Ltd offers services through

its partnerships, joint ventures and divisions and/or subsidiaries in:

MINING SECTOR – Gold; Coal; Platinum; Diamond; Vermiculite;

Dimension stones etc.

OIL AND ENERGY SECTOR – Oil and Gas; Bitumen; Renewable

energy

BUSINESS MANAGEMENT & CONSULTING – Mining Engineering &

Business management etc.

INDUSTRIAL SECTOR – Mining Equipments & machineries supplies

& products

Smokey Hill / Phokathaba Platinum Project established & commissioned 2010. Borala through Palala Resources

5. SOME MINERALS PURSUED

Gold Diamond

Licenses acquired – SA and Sudan

Granite Copper

Platinum Uranium

6. ESTABLISHMENT AND CORPORATE STRUCTURE

The company was established as a response to Government’s Mining Charter

requirements and the desire to involve the local business and entrepreneurs in

actual mining and the procurement of goods and services. The ownership and

management structure of Borala Mining Group is as follows:

Borala Mining (Pty) Ltd is a 100% Black Owned Company:-

1. Women Empowerment Group- Razorbill Prop. 10%

2. Borala Group Holdings (Pty) Ltd: 70%

3. Lesiba F Trust: Edu-care Support 10%

4. Borala BBBEE Trust – Empowerment & support 10%

Razorbill

Properties

Women group

EDU-CARE

SUPPORT

FOUNDATION

BORALA

BBBEE /

WORKERS

TRUST:

BBT SA

Promoters/Tech

nical drivers

BORALA

MINING

Group(Pty)Ltd.

6. MANAGEMENT- BORALA MINING (PTY) LTD

Borala Subsidiaries/Divisions

100% 26% 70% 25% 20% 54% 60% 28%

-Smokey Hill Platinum - Elephant Granite (Pty) Ltd

-Limpopo Platinum

CHAIRLADY

Non Executive

Ms MC Mosena Pr.Eng

MBA & M.Eng.(Mining)

WITS;

ASSOC. DIR. TECHNICAL

P Stacey Pr Eng (Mining)

&

Ms MD Phuluwa

Director: Social & Labour

Plans

CHIEF EXECUTIVE OFFICER &

DIRECTOR

Mr SG Mosena Pr.

CE DC Eng; B.Com (Admn);

H.Dip.DP; MCRP;

MSc.Econ(UK); MBA

ASSOC. DIR. FINANCE

K Duneja CA (SA) CFA

(USA);B.COM HON. ACC

&

Ms NN Mosena

B.Arch; BSc.Eng (Hons).Civ

& Struc; MEng (UK)

PALALA RESOURCES

-Gold

-Platinum

-Pyrite

-Titanium

LEKOA

INDUSTRIA

L SUPPLIES

-Mining

Equipments;

Tools; Products

-Inputs Supply

Park

COLO

GRANITE

-Black

granite Quarry

-Processing

Factory

Borala

Empowerment

Consortium

-Gold

-Coal

-Chrome

-Uranium Manganese

BUTTON

SKOP CC

-Gold

-Silver

-Uranium

-Copper

-Nikkel

MELTING

POT

-Coal

NTSHOBELA

VERMICULITE

-Mine Quarry

-Processing

Factory

ONE

VISION

QUARRY

-Red

granite

PALALA

GLOBAL

-Gold

-Diamond

-Oil

-Gas

-Iron

7. OUR PREFERRED MINING AND INDUSTRIAL ENGINEERING

SUPPLIERS OF EQUIPMENTS

8. CORPORATE IDENTITY

The activities of BORALA MINING (Pty) Ltd are transacted in the following

corporate offices:

Head office: BORALA OFFICE PARK

92 Biccard Street

POLOKOANE

LIMPOPO PROVINCE

Fax/Tel 015 298 8855 /086 515 3254 /082 455 1016

Postal Address: Postnet Suite 196

Private Bag X9307

POLOKWANE , 0699

E-mail: sgmosena@boralamining.co.za or lesiba@tiscali.co.za

Website: www.boralamining.co.za

• Zhous Enterprise International – A Chinese Owned company based in Jetpark for distribution on Bearings, Seals, V-belts, Chains and Sprockets.

• All- Rubber Company – An Australian company for the supply of Conveyor Belts and accessories.

• Hangzhou Chinabase Machinery Co. – A Chinese base company for Electric Motor supplies.

• Shanthi Gears – A German/Indian Company for the supply of Gearboxes.

9. BOOKKEEPERS / AUDITORS / BANKERS

The transactions of Borala Mining Group(Pty) Ltd are handled by:

Auditors / Accountant: Name : SAB&T Polokwane

Bankers details

Bank : ABSA BANK

Branch : Polokoane

Type of A/C : Cheque Account

10. SOME DIRECTORS /MANAGERS QUALIFICATIONS

CE & Chairlady

SG Mosena Pr TRP.(MSAPI) CE DC Eng; MCRP; MSc Econ (UK); MBA;

H.Dip. DP: Bachelor Degree.; Owner & CEO of

Dux Consulting Engineers; Director of BMI

Holding;

Director of companies, Deputy President and

National Secretary General of NAFCOC and

National President of SAMEC (NAFCOC

Mining Sector); Vice President of Black

Business Council & ANC Treasurer in Limpopo

Cell 082 455 1016

Ms MC Mosena Pr Eng BA Bus. Econ; STD; PG Dip. Marketing; MBA;

Graduate Diploma Mining Engineering;WITS:

M.Eng (Mining);WITS; Director of companies.

Director of Borala Mining & MVM Africa

Consulting Engineers; Manager & Owner of

Mamakadi Quality Cleaning Services; NAFTO

member.

083 645 5589

Ms MD Phuluwa Businesswoman; Owner of Phuluwa Spaar &

Supermarket, Phuluwa Bottle Store and Bar

Lounge, Member of companies and BMI

Holding Associate Director. Community Leader

– SANCO ; NAF.RET

Ms NN Musena B.Arch and/ BSc.Eng(Hons) Civil & Structural

Engineering; and MEng Civil & Structural

Engineering – UK; Directors of companies –

Borala mining; Civildev (Pty) Ltd, LIMPSA

Business Women, COM.IT; SAWIMA &

member of ANCYL & NAFCOC Youth.

CHIEF EXECUTIVE OFFICE & DIRECTOR: STRATEGY PLANING

SEKWAMO GILBERT MOSENA

1. PERSONAL

Born on the 12th April 1962 – Polokwane – Limpopo province in RSA

2. EDUCATIONAL / SKILLS ACQUIRED AND/OR PURSUED

Bachelor Degree and CE D. C Eng – Urban Planning and Egineering Consulting

H.Dip. Development Planning - Witwatersrand University (WITS)

MSc. City and Regional Planning - course work only: University of Cape Town

MSc. Economics - (Regional Development Planning) - University of Wales in UK

MBA - ( Dissertation / Specialised in Financing of SMEs) - University of Limpopo

LLB – (Corporate Law) – Registered in 1993 and 2004 : currently pursuing - UNISA

3. CURRENT BUSINESS POSITIONS & DIRECTORSHIP

Owner and Executive Chairperson: Dux Consulting Engineers & Planners

Director & CEO: Borala Mining & Industrial Holding (Pty) Ltd ( BMI Holding )

Chairperson and director: Palala Global Ltd – Sudan, Zambia & Mozambique

Board member: Limpopo Operating Licensing Board

Member : Melting Pot CC; NAFCOC–SAMEC; Buttonskop Prospecting; Ntshobela Vermiculite

Director : Com.IT Technologies (Pty) Ltd

Director : Colo granite (Pty) Ltd

Director: Palala Resources (Pty) Ltd

Director: Borala Mining (Pty) Ltd

Director: Phokathaba Platinum (Pty) Ltd

Director: Limpopo Platinum Holding (Pty) Ltd

Director: One Vision Investments 275 (Pty) Ltd

Member of NEDLAC – Economic subcommittee

4. AWARDS RECEIVED

1988: Awarded ANC Scholarship to study MSc. Economics in UK

1993: Awarded ANC Certificate in Local Government and Governance

1997: Awarded Housing Person of the Year – Limpopo Province

2002: Awarded MBA Top Student Award by the combined University of Limpopo

CHIEF OPERATIONS OFFICER & ASSOCIATE DIRECTOR / CONSULTANT TECHNICAL

SERVICES

Mr P Stacey: Pr Eng (Mining) WITS

Qualifications

B.Comm - University of The Witwatersrand

B.Sc Eng(Mining) - University of The Witwatersrand

Graduate Dipl Eng (Civil Eng) – University of the Witatersrand

Specific post-graduate fields of study: Project & Contract Management,

Environmental Engineering, Mineral Economics

Skills, Range of Activities

Consulting engineering and contracting to the mining, construction and process

engineering industries including:

Geological Appraisal, Resource Identification

Statistical Analysis, Quantification

Infra-structural and Construction Planning & Design

Business Modeling and Financial Presentation

Project Planning & Implementation,

Contract Control, Performance Appraisal

Environmental Engineering

Industrial and Chemical Process Evaluation and Design

Some pertinent information about principal member Peter Ivan Stacey

Birth Place Ireland

Citizenship RSA

Previous JCI - Mineral Exploration Admin – Southern Africa

Employment Civil Construction, Industrial Admin – South Africa

History Fraser & Chalmers Equipment : Administration of a several

Proprietary process engineering and project subsidiaries

Rand Mines : Mining Engineer Douglas Colliery, ERPM

Durban Roodepoort Deep

Fraser Alexander: Technical Director Mining Services.

Contracting and consulting for Anglo America Corp. Genmin and Rand Mines Groups

Present Stacey & Associates:. Consulting Engineers, geological exploration and project

management, Feasibility studies on medium to large mining operations in Southern

Africa/Madagascar, with special emphasis on resource and financial Modeling.

MINING

Chrome

Gold

Coal

Manganese

Lead & Zinc

Copper

Diamonds

Stacey & Associates has an excellent track record in exploration,

as well as development and operation of both underground and opencast

Mineral resources. These include:

CHROME: an in depth knowledge of the chrome resources and mineral rights on the

Bushveld Igneous Complex in South Africa as well as the experience of project managing

a successful chrome venture from borehole data modeling to final ferrochrome

production.

COAL: Production and process expertise gained in the Witbank and Northern Natal

Coalfields; Exploration and appraisal of coal measures in the Nongoma area of Eastern

Natal, including exploration, design, planning and environmental impact analysis for the

Somkele Anthracite mine (currently operated by the Petra Mining group); Exploration

evaluation and planning on opencast prospects in Zimbabwe’s Hwange coalfield. Mine

design, planning and bankable feasibility exercises on Southern African and Madagascar

projects for major clients.

MANGANESE: Extensive exploration in Southern Africa. Exploration, planning, design

and implemntation of Otjosondu Manganese mine in Namibia, including complete project

management and extensive design input into the beneficiation plant.

DIAMONDS: Involved from exploration through to production and marketing on as

many as a dozen projects in southern Africa.

INDUSTRIAL MINERALS:

Exploration and resource evaluation of silicate and alumino-silicate minerals in Southerm

Africa and eastern Europe, including high grade glass sands, nepheline syenite, feldspar

and andalusite..

MISCELLANEOUS OTHER MINERAL EXPLORATION: Tantalite,in Mozambique,

Northern Cape, Namibia. Beryl in Mozambique, Madagascar, Namibia. RSA, Gold in

Limpopo and Mpumalanga RSA., Chome, Copper & Manganese in Guinea. Vanadium in

Pilanesberg, RSA, etc etc.

CONSTRUCTION TECHNOLOGY

Stacey & Associates four years ago embarked on a research and development programme

to address the challenges of construction, particularly related to mining in Africa. Initially

work was done on modifying and developing processes to use refractory waste materials

to manufacture lightweight panels and the application of lightweight cold rolled steel

sections for roof and deck. Ultimately with significant changes in raw material costs the

focus has moved to concrete composites and the group has completed the successful

design of cost effective solutions and is in the prototype testwork phase of this project..

Contact Details

Address: 47 Claim Street, Boksburg 1459

Tel 011 917 3744

Fax 011 917 3048

Cell 082 578 1057

e-mail pstacey@global.co.za

Some Further Background Information

Peter Stacey offers an extensive range of skills and experience in a diversity of construction, mining and

mineral projects. A widespread network allows access to state of the art technology in all aspects of

construction, processing and production technology..

Some Specific and Relevant Projects

Project: CMI (Consolidated Metallurgical Industries (Rustenburg)

(subsequently taken over by X-strata)

Description: Mining and beneficiation of chrome

Role of S & A: Primary appraisal of geological information including borehole data,

develop operational model and feasibility study for original

owner and entrepreneur,Purity Minerals (Pty) Dr R.F Ballen.

Assisted in financial presentation and negotiation of funding

(Credit Suisse +- R100-m ) Project subsequently acquired by

Johannesburg Consolidated Investments Limited (JCI) for R182-m (1989)

Project: Otjosondo Manganese Namibia

Description: Exploration, Mining and beneficiation of manganese ore

Role of S & A Assessment of geological and exploration data, identify investor

Present feasibility, carry out additional exploration and develop process and

mining plan, marketing strategy to ensure successful

project.. Planned and implemented opencast mine,

designed and constructed 50 000tpm benficiation plant

(contractors Titaco/EL Bateman, Klockner Humboldt Deutz)

Project: Bermix Ferrochrome - Krugersdorp

Description: Recovery of ferrochrome from slag

Role of S & A: Identified, quantifiefd and and evaluated resource.

Carried out feasibility and negotiated acquisition

Designed and implemented 40 000tpm mining and beneficiation

Client: Recmix Inc (Canada & USA) and Begslagens AB (Sweden).

Project: Kimpe Copper - DRC

Description: Joint development of chemical HydroMet process for

copper/cobalt/nickel extraction

Role of S & A: Identified, quantified and evaluated resource.

Carried out bulk sampling, leaching and pilot production to prove

metallurgical viability

Client : KGHM Polska (largest European copper producer)

BRIEF OUTLINE OF SEVERAL OTHER S & A PROJECTS:

Assessment on behalf of Metalleghe SA and Selca SA (Italian ferro alloy producers) of viability

of restructuring Albanian chrome mining industry.

Assessment and Feasibility study for N. Cape underground Manganese Mine for Purity Minerals

Management and formalization of Selca/Metalleghe’s bid to process Columbus/

Middelburg Steel and Alloy slag reserve (Contract value +- R200-m).

Evaluation, expoloration and plant design and construction of diamond operations for a variety of

local and foreign investors.

Due Diligence carried out on mining and process of Fairview Gold Mine (Gencor)

For Noble Peak Resources Inc (Canada)

Exploration, assessment and negotiation for development of Zambian phosphate mine and fertilizer

plant. Client RSA/Zambian consortium/ Nitrogen Chemicals of Zambia.

Mine Plan, environmental management programme and mining rights application for

Pilanesberg Vanadium (Purity Minerals)

Mine Plan, environmental management programme and mining rights application for

Pilanesberg Vanadium (Purity Minerals)

Mine Plan, bankable feasibility for Piet Retief Colliery (now Kiepersol Colliery). Detailed

capita/cost budgeting, complete procurement management and contractor selection for mining

contract, beneficiationb plant and primary infrastructure

Current Activities Independent contractor/entrepreneur indentifying mining,

and Modus Operandi construction and metallurgical opportunities. Developing

Business models, securing investment and turning projects to

account.

GROUP CHAIRLADY & NON EXEC BUSINESS DEVT.

Ms MC Mosena Pr Eng (Mining)

5. PERSONAL

Born on the 9th July 1967 – Sekhukhuneland – Limpopo province in RSA.

6. EDUCATIONAL QUALIFICATIONS OBTAINED/ SKILLS ACQUIRED

STD – Secondary Teachers’ Diploma – Mokopane College of Education -1986 -1988

BA Bus. Econ Degree - University of Venda -1992-1994

PG Dip. In Marketing - University of South Africa – 1998-1999

MBA - ( The Role of Marketing in Women’s Initiated Ventures: The Case of Polokwane-Limpopo

Province) University of Limpopo – 2001-2003

GDE - Graduate Diploma in Engineering (Mining Engineering)– University of Witwatersrand

(WITS) – 2008 -2009

M.Eng (Mining) WITS - Masters in Mining Engineering - Completed coursework and

dissertation entitled “ The Economic Impacts of Minerals Beneficiation: The Case of Granite

Processing Plant. “ 2010

7. CURRENT COMMUNITY INVOLVEMENT/ MEMBERSHIP

Member of NAFCOC Limpopo – Mining and Energy Sector : Women Empowerment Unit

Member of ANC & ANCWL – Small Enterprises Development Desk

Member of SAWIMA (South African Women in Mining)

Former member of SADTU (worker’s union)

Co-ordinator of Small Scale Mining Operators in Limpopo province

Former member of SANCO (community) – Skills Development & Training

Director of companies

8. AWARDS RECEIVED

2007: Awarded Government Bursary to Study Mining Engineering Qualification

9. EMPLOYMENT RECORD / HISTORY

Manager – Mining Cluster: Limpopo Department of Economic Development & Tourism -2006 to

date. Sometimes acted as Senior Manager for Sector Industries

Senior Lecturer – Capricorn Technical FET College – 1996 -2005

Part-time Lecturer – Tshwane University of Technology- 2004-2005

Part-time Lecturer – Damelin College -2000

Lecturer: Kwena Moloto College of Education – 1995 -1996

Teacher – Kgahlanemorulana Secondary School: 1989-1991

NB. Summary of Duties & Responsibilities at the moment:

- Management of Small Scale Mining activities in the province in line with Enterprises development

- Monitoring the implementation of Mining charter and Legislations –SMEs and Communities

- Co-ordinating SME’s in mining and women empowerment in particular

- Provide guidance on BBBEE, Skills training, procurement and beneficiation as well as marketing

- Facilitating and assisting the host mining communities and their expectations

- Monitoring mining companies’ compliance : social responsibilities and environmental issues

:

CHIEF FINANCE OFFICER/CONSULTANT: BORALA (ASSOCIATES)

Kushal Duneja, CA (SA), CFA (USA)

Personal Details Full Name Kushal Duneja

Date of Birth 26/01/1972

Phone Numbers Home +27 11 234 5624

Mobile +27 72 919 5400

Email Address kduneja@gmail.com

Location Johannesburg, South Africa (Gauteng) »

Education Chartered Financial Analyst (2006) Chartered Financial Analyst Institute, USA **Completed all levels in minimum time – scored 3/3

Chartered Accountant, South Africa (1999) South African Institute of Chartered Accountants Professional Qualification at SAICA in Gauteng, South Africa **Qualified at the first attempt Advanced Auditing, University of Johannesburg (1999) CTA / Honors Bachelors of Accounting Science (1998) Degree at UNISA in Johannesburg, South Africa (Gauteng)

Honors Bachelor of Commerce, University of Delhi (1993) ** Highest Marks at the University in Audit and Taxation O’ Levels, University of London (1988) **Distinction in Chemistry, Higher Merits in all other subjects » Languages Read, Write, Speak English 3 Kushal Duneja has over 16 years experience across the financial services industry at top tier organizations like PricewaterhouseCoopers, Citibank and Alliance Capital (now Alliance Bernstein). Furthermore, he has the unique advantage of working in roles across front, middle and back office - he has worked as an Auditor and IT risk manager at PwC and Ernst and Young, where he was responsible for audits of Banks (Standard Bank), Stockbrokers (UBS, Investec), Custody and Settlement Agents (SocGen, ABSA). He has worked as an Equity Investment Analyst at Alliance Capital (buy side) and Citigroup Investment Research (sell side) and as financial controller and Operations manager at Citibank. At age 39, Kushal has built tremendous skills and a solid foundation from the experience. He has worked across several geographies including Europe, Africa, Middle East and India. He is an expert at various valuation models including DCF, NAV, DDM, and NPV. He has researched mining, retail and industrial stocks listed on the JSE, conducted due diligences, prepared legal documents and mandates. As a financial controller he has been responsible for project appraisals NPV, IRR and ROI criteria, and been responsible for preparing budgets, cost allocation models, shadow accounting techniques etc. Within IT and IT risk he has designed processes, developed solutions for financial systems, implemented IT modules etc. He has worked as an individual as an equity analyst and has also led a team of over 15 individuals across 32 countries as CEEMEA head of financial control and IT riskThis well rounded exposure and experience sets him well for various roles. Kushal is a qualified Chartered Accountant (SA) and a CFA Charterholder. He holds a Bachelor of Commerce (Honours), Bachelor of Accounting Science (Honours) and a Certificate in Advanced Auditing. 2

» Employment Details Growth Factors May 2009 – Present Set up own firm to provide niche Corporate Finance and Consulting to clients. Have completed mandates to set up Fund Management Business, Fund raising for aquaculture business, mining, and metals businesses; Currently working with Ecobank (a large Pan African bank) on several projects across the Bank.

African Alliance Sept 2008 – May 2009 Portfolio Manager, Small Cap Fund African Equities (across 12 countries) Prepare the fund prospectus and embark on a road show to raise funds. Research, Analyze and invest in African Stocks with market cap less than $100m; Manage the funds and benchmark performance against a suitable index or based on an absolute basis. Citigroup Dec 2002 – Aug 2008 Citigroup Investment Research Senior Analyst, Equity research (South Africa) Duties & Responsibilities Research Diversified Industrial Stocks listed on the JSE. Responsible for coverage of the industrials sector, regular update to traders and clients Perform investment valuation using various methods including DCF, P/E relative, ROIC/WACC to determine the fundamental value of stocks. Provide a recommendation on stocks to clients. *I briefly left Citi, between Jan08 and May08 during a management change to join IDC and returned to Citi in June08. At IDC I worked in the corporate and structured finance department as a senior account manager. Perform due diligence, financial modeling and negotiations for various project and corporate finance deals. Perform BEE deals. Head of Finance and Controls, CTI, CEEMEA (Bahrain) Duties & Responsibilities Financial Control for Central Eastern Europe, Middle East, and Africa region covering 32 countries 600 staff and $ 200 MM of expenses. Budgeting, Performance Measurement, Attrition, Cost Saving initiatives, Systems Implementation and process improvement Oversee the IT controls and financial control for Operations in the CEEMEA region for CTI, Citigroup. Key Achievements:

region by CTI;

based model;

ral Europe to execute the strategy of performing IT functions

in low cost locations;

infrastructure; Ernst and Young Audit Manager Lead Auditor for all Stockbrokers and Custody Clients September 2001 – November 2002 Duties & Responsibilities Managed audit and Special Regulatory Engagements; Review stock exchange listing and other requirements; Audit Manager for all Stock broking clients; Plan audits and address major risks; manage budgets and billing; Steer team members; counsel and mentor staff; Build and Maintain client relationships; Reporting to the Financial Services Board and The JSE Securities Exchange. Main clients were UBS, Société Générale Securities (SocGen), Investec Securities, and ABSA (now Barclays). During this time major changes were introduced in the South African Securities market with the conversion to dematerialized share certificates, introduction of a new custody and settlement participants and the end of weekly settlements with rolling daily settlements. This resulted in several significant challenges that had a significant impact on the audit and reporting requirements. Key Achievements

ng, challenging environment. CDC Capital Partners Investment Analyst Private Equity May 2001 – August 2001 Duties & Responsibilities Investment analysis of private equity deals in particular MBO’s and Venture Capital projects; Advanced financial modeling using excel; To perform detailed financial statement analysis work, and act as a team member in private equity deals. Research and identify opportunities in the pharmaceutical sector. CDC Capital Partners (ex Commonwealth Development Corporation) was formed under the private public partnership program of the UK government. Its venture in South Africa made losses that led to a restructuring and eventual divestiture to another private equity firm. Key Achievement:

in a $25MM MBO deal of a pharmaceutical company that was approved by the investment committee. 5

Alliance Capital (now Alliance Bernstein) Equity Research Analyst, Investment Analyst JSE May 2000 – April 01 Duties and Responsibilities Investment Analysis of listed Equities using detailed Fundamental Analysis; Financial modeling using DCF, NAV, PE valuation models; Recommend investment in equities on the JSE, by performing thorough bottoms up research of the company, in accordance with Alliance Capital Standards. Present to Chief Investment officers across the company and to the board of Trustees; Communicate regularly with management and brokers analysts locally and internationally to assess the likely performance and investment attractiveness of the company.

Key Achievements:

Financial services sectors) gaining a sound knowledge of several industries.

ood results!

PricewaterhouseCoopers Management Consultant and IT Risk Auditor (South Africa) November 1998 – April 2000 Duties and Responsibilities Performed system requirements and review analysis for clients that involved reviewing financial systems, and recommending a suitable IT solution to the clients. This required getting a thorough understanding of the business and user requirements, and the areas where the current system failed to meet requirements. As part of the IT Risk Auditor role reviewed both general and application controls to obtain reasonable assurance to the financial audit that the information produced by the IT systems. Main clients were in Financial Services Group. Key Achievements:

additional engagements; Created add on sales by leveraging the audit relationship to generate revenues

in time to enable the Y2K assessments

Irshad Nakhooda & Associates CA (SA) Audit Manager (South Africa) April 1994 – October 1998 Registered Public Accountant and Auditor Completed training contract (articles) Continued as Audit Manager after completion of the training contract. Was responsible for all Income Tax and VAT related issues. Worked in Auditing, Accounting, Taxation Government Returns, Legal & Company Secretarial work 6

Key Achievements

origination » Extra Curricula Achievements

riting Competition across 5 countries in District 921 – 1988

University of Delhi

hi

» Skills Extensive Financial Modeling, Valuations,

Advanced Excel (5 to 10 years experience)