In a press release issued on Thursday, 21 August 2014, the Racing Association has announced changes to the Board of the Racing Trust.
The previous board comprised:-
Johan Roodt (Chairman)
Mary Slack
Michael Leaf
Markus Jooste
Chris van Niekerk
Gideon Sam
Vinesh Maharaj
Following the Trust meeting held on 22 July 2014, Johan Roodt, Michael Leaf, Markus Jooste and Chris van Niekerk stood down as they had served nine years and in accordance with the Trust Deed, they were no longer eligible to serve as Trustees. They were replaced by Chris Gerber, Mark Currie, Brian Finch and Johann du Plessis. Mary Slack had resigned earlier and she was replaced by Peter de Beyer. These appointments are in accordance with the Trust Deed.
The new board comprises:-
Johann du Plessis (Chairman)
Peter de Beyer
Chris Gerber
Mark Currie
Brian Finch
Gideon Sam
Vinesh Maharaj
Gideon Sam and Vinesh Maharaj are appointed to the Racing Trust by SASCOC. All other Trustees are appointed by the Racing Association, who also handle all accounting and secretarial requirements of the Racing Trust.
The Thoroughbred Horseracing Trust was established at the time of corporatisation to protect and enhance the sport of horseracing. As per the Memorandum of Understanding between the Racing Industry and the Gauteng Provincial Government, the Thoroughbred Horseracing Trust is a 30% shareholder of Phumelela.
The primary functions of the Racing Trust are stated as being:-
• Financing and overseeing various development programmes to enhance the racing industry.
• In this regard, trustees and management of the RA are involved in strategies relating to AHS to develop the South Africa equine export market internationally
• Monitoring the business of Phumelela to ensure that the investment owned by the Trust is protected
