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Cautionary announcement and changes to the board of directors
REBOSIS PROPERTY FUND LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2010/003468/06)
JSE share codes:
REA ISIN: ZAE000240552
REB ISIN: ZAE000201687
(Approved as a REIT by the JSE)
(“Rebosis” or “the Company”)
CAUTIONARY ANNOUNCEMENT AND CHANGES TO THE BOARD OF DIRECTORS
Shareholders are advised that the Company has signed non-disclosure agreements and
are currently in negotiations with local and offshore institutions and pension
funds for a transaction that, if successfully concluded, could fundamentally change
the financial matrix of Rebosis and crystallise value for shareholders.
The proposed transaction will be subject to due diligence and various regulatory
approvals and the conclusion of formal agreements.
If concluded, the proposed transaction would be classified as a category 1
transaction, requiring a circular and shareholder approval. Shareholders are
accordingly advised to exercise caution when dealing in the Company's securities
until a further announcement is made.
CHANGES TO THE BOARD OF DIRECTORS
Shareholders are advised that the Company is currently reviewing the composition of
its board of directors (“the board”) in order to strengthen its independent
capacity.
Shareholders are accordingly advised that the board appointed two additional
independent non-executive directors. Messrs Mervyn Burton and Shaun Naidoo joined
the board with effect from 01 April 2021.
Mr Burton is a Chartered Accountant with extensive experience in Financial
Management, Risk management and IT Strategy management. He currently owns a
consultancy focused on Governance and Risk, Finance, Business Turnaround
Management, and other advisory services. Mervyn is a past chairman of the audit and
risk committee of Ascension Properties Limited, listed on the JSE at the time, and
currently sits on a number of boards and audit committees.
Mr Naidoo is a Chartered Accountant and holds an MBA from the Gordon Institute of
Business Science. In his current role as Chief Executive of Corporate Finance at
Vunani Limited, he is involved in the execution of corporate transactions, BEE
structuring, balance sheet restructuring, valuations, IFRS and tax advisory and
capital raising.
The board welcomes Messrs Burton and Naidoo and look forward to their
contributions.
Mr Maurice Mdlolo has resigned from the board and as chairman of the investment
committee with effect from 1 April 2021.
The board wishes to thank Mr Mdlolo for his enduring counsel and support through
volatile market conditions and wish him well in his future endeavours.
The board continues to review the balance of independent board members for
additional appointments.
07 April 2021
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 07-04-2021 08:51:00
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