DGAP-News: CEO and Founder Dirk Harbecke leaves ADC after seven successful years of building and running the sub-Saharan African financial services group

CEO and Founder Dirk Harbecke leaves ADC after seven successful years of building and running the sub-Saharan African financial services group

DGAP-News: ADC African Development Corporation AG / Schlagwort(e):

Personalie/Personalie

CEO and Founder Dirk Harbecke leaves ADC after seven successful years

of building and running the sub-Saharan African financial services

group

17.11.2014 / 10:39

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- Dirk Harbecke has been Founder and CEO since the inception of ADC

- Supervisory Board and Dirk Harbecke agree on a Termination Agreement

with immediate effect

The CEO and Founder of ADC African Development Corporation AG, Dirk

Harbecke, leaves the company with immediate effect. Mr. Harbecke and the

Supervisory Board agreed on a Termination Agreement following the

completion of the acquisition of ADC by Atlas Mara Co-Nvest Ltd. in late

August.

Mr. Harbecke intends to focus on new projects.

Mr. Harbecke stated: "I am very proud of what we have built at ADC in the

past seven years. I would like to thank the whole team and all our partners

and friends in Africa, who worked with ADC to realize our vision of

building a leading pan-African financial services group. I am happy that I

had the opportunity to work in Africa on the ground, to meet remarkable

people and entrepreneurs - and to make friends with so many of them. After

the take-over of ADC by Atlas Mara, the company is in great hands to

continue the vision of creating a leading pan-African banking group under

new leadership."

Alastair Newton, Chairman of the Supervisory Board, comments: "I have

worked with Dirk for many years. With his entrepreneurial spirit and

leadership, he was a driving force behind the vision of ADC and its

implementation. We wish Dirk all the best for his future projects."

Bob Diamond, Founder of Atlas Mara, adds: "Dirk and his team built a unique

platform with ADC. I would like to thank him for the trust he showed in

Atlas Mara and his support for the take-over offer that lead to an

acceptance by more than 95% of ADC's shareholders."

About ADC

ADC African Development Corporation AG (ADC) (ISIN: DE000A1E8NW9;

Bloomberg: AZC.GR; www.african-development.com) is a German open market

(Entry Standard) listed holding company with investments in sub-Saharan

Africa. ADC has a strong footprint in Southern Africa via BancABC, a

regional commercial banking group operating in Botswana, Mozambique,

Tanzania, Zambia and Zimbabwe as well as in West Africa via Union Bank of

Nigeria. Parallel to its banking operations, ADC has a private equity

portfolio active in growth markets across sub-Saharan Africa. ADC is

indirectly majority-owned by Atlas Mara Co-Nvest Limited which is listed on

the main market of the London Stock Exchange. For more information, visit

Atlas Mara's website at www.atlasmara.com.

Kontakt:

Investor Relations

investor-relations@african-development.com

T +49 69 719 12 80 119

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17.11.2014 Veröffentlichung einer Corporate News/Finanznachricht,

übermittelt durch DGAP - ein Service der EQS Group AG.

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verantwortlich.

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Corporate News/Finanznachrichten und Pressemitteilungen.

Medienarchiv unter http://www.dgap-medientreff.de und

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Sprache: Deutsch

Unternehmen: ADC African Development Corporation AG

Grüneburgweg 18

60322 Frankfurt/Main

Deutschland

Telefon: +49 69 719 12 80 119

Fax: +49 69 719 12 80 115

E-Mail: info@african-development.com

Internet: www.african-development.com

ISIN: DE000A1E8NW9

WKN: A1E8NW

Börsen: Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open

Market (Entry Standard)

Ende der Mitteilung DGAP News-Service

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