Bateman Engineering N.V. ("Bateman Engineering or the “Company")

  12 February 2008  (London)

Management Change

The Board of Bateman Engineering is pleased to announce the appointment of Pieter Du Plessis as Chief Financial Officer (“CFO”) designate. 

Mr. Du Plessis, who is currently the Company’s Chief Commercial Officer and a member of the Group’s executive committee, brings significant experience and knowledge of the Company and the engineering contracting industry to the position.

Mr. Du Plessis has been with Bateman Engineering group (“Group”) for over 17 years. He has occupied several positions including that of Business Unit Managing Director.  In his current role as Chief Commercial Officer Mr. Du Plessis is responsible for the Group commercial department which includes the project finance department, the legal department and the insurance department.  This includes particular responsibility for the negotiation and structuring of large complex projects for the Group internationally. Mr. Du Plessis has played a significant role in the development of the Group’s strategy over the years.

Mr. Du Plessis will continue to play a significant commercial and risk management role in the group by remaining involved in the negotiation and structuring of key projects as well as from a strategic level, but will begin handing over some of his day to day responsibilities to senior managers in the commercial department.  His operational experience and expertise will ensure a sharper interface between the Group’s project management accounting function and the overall financial management of the Group. 

Jonathan Ben-Cnaan, the current CFO, will be leaving the Company at the end of March following an orderly handover.

In accordance with Dutch law the appointment of Mr. Du Plessis as a statutory director is subject to the approval of the Company in a general meeting.  The Board intends to hold an extraordinary general meeting for this purpose in Amsterdam on 12 March 2008.  Following his appointment by the shareholders, Mr. Du Plessis will join the Board of Bateman Engineering.  A circular to shareholders and notice of extraordinary general meeting will be circulated to shareholders and holders of depository interests shortly.

Disclosures required under Rule 17 of the AIM Rules are set out in the schedule to this announcement.

Bateman Engineering’s Chief Executive Officer, Dr. Sivi Gounden, commented:

“The Company is pleased to welcome Pieter as the CFO designate. Pieter’s in depth understanding of the Bateman Engineering Group and the project engineering and construction industry together with his commercial acumen will bring an added dimension to the Group’s financial function, especially as the Group consolidates on the gains made since our listing on AIM. We are confident that Pieter and his team will continue to maintain and build on the high standards established within the finance function of the Group.”                  

 

Notes to Editors

Biography: Pieter Marthinus Du Plessis (48)

Mr. Du Plessis has had extensive experience in senior management positions in virtually every business unit in the Bateman Engineering Group and brings with him a thorough understanding of the dynamics of the Group and the project engineering and construction industry. In his career with the Group Mr. Du Plessis has successfully project managed some of the Group’s largest and most prestigious projects. Mr. Du Plessis has also developed some of the management accounting modules currently used by the Group.

He is currently the Chairman of the management boards of the Australian and Russian business units, and has recently been appointed as the Chairman of the Group’s risk management committee.

Mr. Du Plessis holds BSc (Eng) Chem. (1982) and BSc (Eng) Chem. (Hons) (1985) degrees from the University of Pretoria. He is a registered professional engineer both in South Africa and Europe and is a member of the South African Society of Chemical Engineers and the American Association of Cost Engineers.

Bateman Finance Team

Mr. Du Plessis will in his new role as CFO be supported by experienced and highly competent departmental heads in the Group Finance Department:

  • Ms Megan Hastings (33) is the Group Financial Controller and has been with the Company since its admission to AIM. Prior to joining the Group she was a senior financial manager at De Beers and a senior audit manager at Deloitte.  Ms Hastings is responsible for budgeting and forecasting at a Group level as well as for the production of Group financial and management reporting and statutory accounting and tax.  She is a Chartered Accountant (South Africa) and holds a Bachelor of Commerce (1995) from the University of Natal -Pietermaritzburg (South Africa) and a Higher Diploma in Accountancy (1996) from the University of the Witwatersrand (South Africa).

 

  • Mr. Michael Friedman (32) is the Head of Mergers & Acquisitions & Capital Markets and has been with the Group since shortly after the Company’s admission to AIM. Prior to joining the Group he has held senior investment banking positions at Jefferies and Deutsche Bank.  Mr Friedman is responsible for the Company’s successful mergers and acquisitions program and for capital markets analysis and advice. He holds a degree in Economics and Applied Computer Science (1998) from Princeton University (USA).

ENQUIRIES:                 

Bateman Engineering

   

Dr. Sivi Gounden, CEO

  

+27 11 899 2673

Jonathan Ben-Cnaan, CFO

  

+41 79 756 6039

College Hill

    

Nicholas Potter (Analysts)

  

+44 20 7457 2037

Matthew Gregorowski (Media)

  

+44 20 7457 2029

Dresdner Kleinwort Limited, which is authorised and regulated by the Financial Services Authority, is acting for Bateman Engineering N.V. and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than Bateman Engineering N.V. for providing the protections afforded to clients of Dresdner Kleinwort Limited, or for affording advice in relation to the contents of this announcement or any matters referred to herein.

SCHEDULE

DISCLOSURE’S REQUIRED PURSUANT TO AIM RULE 17

Name:  Pieter Marthinus Du Plessis (48)

Current  directorships of subsidiaries or associated companies of Bateman Engineering N.V:

  • AB Ventures Ltd
  • Bateman Diamonds (Botswana) (Pty) Limited
  • Bateman Diamonds (Pty) Limited (formerly Minerals (Pty) Ltd)
  • Bateman Engineering Canada Corp.
  • Bateman Engineering (India) Private Limited
  • Bateman Engineering Pty Limited
  • Bateman Engineering Management B.V.
  • Bateman Minerals & Metals (Pty) Limited                  
  • Bateman Projects (Mauritius) Ltd
  • Bateman Projects (Mozambique) Limitada
  • Bateman Project Holdings Limited                                  
  • Bateman Projects Limited                                          
  • Bateman South Africa (Pty) Ltd Limited)                                                                 
  • MEM Beleggings (Eiendoms) Beperk                                   
  • Thandizo Risk Services (Pty) Limited                                

Former directorships held of subsidiaries of Bateman Engineering N.V. in the last 5 years*:

  • Bateman (Natal) Limited
  • Bateman Engineering Services Limited
  • Bateman Metals Limited
  • Bateman Titaco Pty  Limited
  • Bateserv Limited
  • Tawana Projects (Pty) Limited

*Note:  these companies have been deregistered from the companies  register in South Africa.

Save for the above there are no further disclosures under Schedule 2(g) of the AIM Rules.