UNITED STATES
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FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. |
On June 23, 2022, the Board of Directors of TB SA Acquisition Corp (the “Company”) appointed Ofentse Molefe to serve as Vice President, Business Development of the Company until his resignation or removal.
Mr. Molefe is a financial services professional with more than six years of experience in corporate finance, including venture capital, M&A advisory, equity financing and investing. Mr. Molefe served as portfolio manager for a South African startup accelerator and incubator, between August 2020 and June 2021. Mr. Molefe had previously served as Vice President of Equity Finance & Investments at Standard Bank between January 2019 and August 2020 and had worked in the Corporate Finance department of Deutsche Bank between August 2015 and November 2018. Mr. Molefe is a member of the South African Institute of Chartered Accountants since 2014. He graduated with a Bachelor of Accounting Science from the University of the Witwatersrand in 2009 and received a Bachelor of Accounting Sciences in Financial Accounting from the University of South Africa in 2011.
Mr. Molefe has no family relationships with any of the executive officers or directors of the Company. Pursuant to an engagement letter between the Company and Mr. Molefe dated April 26, 2021 (the “Engagement Letter”), (i) TCP SA, LLC has transferred an aggregate of 75,000 Class B ordinary shares, par value $0.0001 of the Company to Mr. Molefe and (ii) the Company will pay Mr. Molefe an annual fee in South African Rand amount equivalent to U.S.$140,000 for consultancy services to be provided by Mr. Molefe to the Company in relation to the identification of a potential business combination target, until the earlier of either (x) such time the Company completes its initial business combination or (y) the liquidation of the Company, subject to any earlier termination of Mr. Molefe’s services as provided in the Engagement Letter.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: July 13, 2022 | TB SA ACQUISITION CORP | |||||
| By: | /s/ Andrew Rolfe | |||||
| Name: Andrew Rolfe Title: Chief Executive Officer | ||||||