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Changes to the board of directors of SPFM
Sycom Property Fund
A Collective Investment Scheme in Property
Registered in terms of the Collective Investment Schemes
Control Act, No. 45 of 2002
Managed by Sycom Property Fund Managers Limited (“SPFM”)
Registration number 1986/002756/06
Share code: SYC ISIN: ZAE000019303
(Approved as a REIT by the JSE)
(“Sycom”)
CHANGES TO THE BOARD OF DIRECTORS OF SPFM
Acucap Properties Limited (“Acucap”) currently holds 100% of the shares in Sycom’s statutory manager,
SPFM. Following implementation of the acquisition by Growthpoint Properties Limited (“Growthpoint”) of
the remaining shares in Acucap which it did not already own by way of a scheme of arrangement, Acucap
is now a wholly owned subsidiary of Growthpoint and consequently Growthpoint holds an indirect 100%
interest in SPFM.
In accordance with the implementation agreement entered into between Acucap and Growthpoint, which is
available for inspection at the registered office of Acucap, the board of directors of SPFM (“Board”) hereby
advises that the following changes to the Board will take effect from the date of receipt of approval thereof
from the Registrar of Collective Investment Schemes (“Registrar”), unless indicated otherwise:
1. Retirements from the Board:
Name of director Nature of change in Board
MS Moloko Retired as independent non-executive director and deputy chairman
JPD Flanagan Retired as independent non-executive director
CB Marlow Retired as non-executive director
GR Jones Retired as executive director
PA Theodosiou Retired as chief executive officer (refer note 1 below)
Note 1 - In order to cater for the approval process undertaken by the Registrar and to ensure compliance with section 3.84 of the
JSE Listings Requirements, PA Theodosiou’s retirement will become effective on the business day following the date of receipt of
the approval by the Registrar of G Völkel’s appointment.
2. New appointments to the Board:
Name of director Nature of change in Board
EK de Klerk New appointment as non-executive director
G Völkel New appointment as financial director
RG Pienaar New appointment as executive director
SA le Roux New appointment as executive director
3. Change in executive function of a director
In addition, C Kotze, who has to date served as financial director of SPFM, will be appointed as chief
executive officer of SPFM with effect from the business day following the date of receipt of the approval by
the Registrar of G Völkel’s appointment as financial director.
The Board would like to thank those directors that have retired for the services rendered during their tenure
as directors. In particular, the Board acknowledges the contribution made by Pat Flanagan as the longest
serving member of the Board, having been appointed in 1999. Their contribution and commitment to SPFM
and Sycom has been key to the success of Sycom.
Following the changes in the Board as set out above, the audit committee will also be reconstituted with
effect from 18 May 2015 with GK Everingham being appointed as a member of the audit committee in the
place of MS Moloko.
18 May 2015
Sponsor
Questco (Pty) Ltd
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