SPEAR REIT LIMITED - Change In Function Of Deputy Chairman

Change In Function Of Deputy Chairman

SPEAR REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/407237/06)
Share Code: SEA
ISIN: ZAE000228995
Approved as a REIT by the JSE
(“the Company”)

CHANGE IN FUNCTION OF DEPUTY CHAIRMAN

In accordance with paragraph 3.59(c) of the JSE Limited Listings Requirements, the board
of directors of the Company (“the  Board”) wishes to advise that Mr Michael Naftali Flax 
(“Mr Flax”) will become a non-executive director of the Company, and will remain as the 
non-executive deputy chairman, with effect from 1 September 2019.

As non-executive deputy chairman, Mr Flax will continue to provide advisory input to various
sub-committees and continue to serve as a member of the investment committee. Mr. Flax
will furthermore remain as a significant shareholder of Spear and strategic mentor to the Chief
Executive Officer Mr. Quintin Rossi.

Following the change, the composition of the Board remains aligned with the King IV
requirement that the board of directors comprises of a balance of power, with a majority of
non-executive directors, the majority of whom are independent.

Cape Town
21 June 2019

Sponsor
PSG Capital

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