To view the PDF file, sign up for a MySharenet subscription.

FREEDOM PROPERTY FUND LIMITED - Changes to the board of directors and appointment of Chairman

Release Date: 26/11/2015 15:30
Code(s): FDP     PDF:  
Wrap Text
Changes to the board of directors and appointment of Chairman

Freedom Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2012/129186/06)
Share code: FDP
ISIN: ZAE000185260
(“Freedom” or “the Company”)


CHANGES TO THE BOARD OF DIRECTORS AND APPOINTMENT OF CHAIRMAN


1. INTRODUCTION
    Freedom shareholders (“Shareholders”) are referred to the SENS announcements released on 29 July 2015
    and 31 August 2015 regarding:
    -   the resignation of the Chairman of the board; and.
    -   the results of the Annual General Meeting of Freedom where certain directors where not re-elected.

2. RETIRING DIRECTORS
    -   Mr. Patrick Burton – Independent Non-Executive Chairman (“Mr. Burton”)
        As indicated in the SENS announcement released on 29 July 2015 Mr. Burton stepped down as
        Chairman of the Board at the conclusion of the Annual General Meeting, held on 28 August 2015.
        The directors, executive committee and staff once again would like to thank Mr. Burton for his
        dedicated leadership and invaluable contribution to the formation and listing of the company.
    -   Mr. Richard Eaton – Independent Non-Executive Director (“Mr. Eaton”)
        Mr. Eaton was not re-elected at the Annual General Meeting held on 28 August 2015. The directors,
        executive committee and staff would like to express their sincere gratitude and appreciation for the
        contribution that Mr. Eaton has made to the company since his appointment at the inception of
        Freedom Property Fund prior to listing. Mr Eaton’s vast experience was an invaluable contribution to
        the company.

3. APPOINTMENTS TO THE BOARD OF DIRECTORS
     In compliance with paragraph 3.59(a) of the Listings Requirements of the JSE Limited, shareholders of
     the Company are hereby advised of the appointment of the following two Directors following the
     completion of the nominations process and approval by the Board effective 26 November 2015.


    -   Dr. Phillip David Dexter – Independent Non-Executive Director (“Dr. Dexter”)
        Dr. Dexter has an academic research and political career spanning over 35 years. He has served on a
        number of boards in both an executive and non-executive role for organisations of a profit and non-
        profit nature. He has served as a member of Parliament and in various leadership positions in political
        organisations. He holds a Bachelor of Arts degree from UCT as well as a Master of Philosophy and
        Doctor of Philosophy from the same institution. He has a wide range of skills and expertise
        encompassing general managerial, financial, project management, mediation, arbitration, research and
        administration. He has edited a number of books and published a number of articles and essays. The
        board is confident that the company will benefit from Dr. Dexter’s future contribution.


    -   Willem Stephanus Grobbelaar – Independent Non-Executive Director (“Mr. Grobbelaar”)
        Mr. Grobbelaar holds a Bsc Geology from the University of Stellenbosch and is a dedicated business
        leader with strong business acumen and extensive general and technical management experience in the
        mining industry including wide experience and skills in commercial management, general management,
        project management, continuous improvement and business engineering. Mr. Grobbelaar was involved
        in the Development and Implementation of an employee home ownership housing strategy at Khumani
        Iron Ore Mine, including negotiations with local authorities to secure land, development of serviced
        stands and construction of houses. Mr. Grobbelaar has served on various committees, Development
        Associations, District Council and Sport Organising structures and has served as the chairperson of
        the Northern Cape Mine Managers Association.


    Mr Dexter will serve as a member of the Audit & Risk Committee and Chair the Social & Ethics Committee
    of the board. Mr. Grobbelaar will serve as a member of the Remuneration Committee of the board.


    The Freedom board of directors welcomes the appointment of both Mr Dexter and Mr. Grobbelaar and
    looks forward to their invaluable contributions


4. APPOINTMENTS OF CHAIRMAN
The board of Freedom is pleased to announce that Mr. Willem Stephanus Grobbelaar has been appointed as
Chairman of the Board.


Johannesburg
26 November 2015


Sponsor
KPMG Service Proprietary Limited

Date: 26/11/2015 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story