JSE-listed FoneWorx says one of its directors and founding shareholders, Ronald Graver, has died unexpectedly.
In a statement to shareholders, the group - which is in the middle of buying Value+ Nettwork - says Graver died on Friday. The board notified its shareholders "with deep regret, sadness and shock of the untimely passing" of Graver.
"Ronnie played an important part in the growth of the company and will be missed. The board extends [its] condolences to Ronnie's family." FoneWorx did not indicate the cause of death.
Graver was the music procurement and marketing manager for 320 CNA retail stores from 1980 until 1990. He then held the position of marketing director of RPM, a division of CNA Gallo, from 1989 to 1990.
In 1990, he was appointed managing director of Parrot Publishing, a joint venture between Nasionale Pers and the Argus Group. Graver then left Parrot to form his own company, International Appeal, which operated within the premium rate industry.
In 1994, Graver joined Shield as marketing manager and in 1997 he resigned from Shield to start FoneWorx.
FoneWorx has five operating entities, including BizWorx, which focuses on business-related products, and MediaWorx, which provides information and entertainment services.
Last July, FoneWorx announced it and Value+ Nettwork would merge to create a R478 million company.
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