Wrap Text
Changes to the board of directors and to the composition of board committees
REDEFINE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
(Approved as a REIT by the JSE)
(“Redefine” or “the Company”)
CHANGES TO THE BOARD OF DIRECTORS AND TO THE COMPOSITION OF BOARD COMMITTEES
Shareholders are advised that the directors of Redefine have approved the restructuring of the Company’s
Board and Board Committees (the “restructure”) as set out hereunder.
The restructure is a result of an ongoing review process, by the Nomination Committee, with regard to the
composition of the Board and Board Committees as well as the need for succession planning and renewal,
and aims to align the Company with Corporate Governance requirements. The restructure was supported by
all parties involved and will be effective 9 February 2017 (the “effective date”).
To allow for additional transformation at Board level, independent non-executive director, Gunter Steffens
and non-executive director, Mike Watters, who were due to retire by rotation at the upcoming annual general
meeting of the Company to be held on 9 February 2017, have indicated that they will withdraw from the
Board on the effective date and will accordingly not offer themselves for re-election at the upcoming annual
general meeting.
Furthermore, and taking into consideration King III’s recommendation of ensuring that the Board comprises
of a majority of non-executive directors, of whom the majority should be independent, executive directors,
David Rice, Chief Operating Officer, and Mike Ruttell, Executive Director: Development, who is also a
member of the Social and Ethics Committee, will withdraw from the Board on the effective date, but will
remain members of the Company’s senior executive management team and standing invitees to meetings of
the Board.
Bridgitte Mathews, CA(SA), HDip Tax, has been appointed as an independent non-executive director of the
Company with effect from 9 February 2017. She serves as an independent non-executive director on the
boards of several companies including OneLogix Group Limited, Suidwes Agriculture Group (RF) (Pty) Ltd
and Agrinet (Pty) Ltd, PSG Group Limited and PSG Financial Services Limited. She is also the deputy
chairperson of ATKV NPC and is the chairperson of the board of trustees of the Redefine Empowerment
Trust. On the effective date, Bridgitte Mathews will be appointed as a member of the Nomination
Committee and as the Chairperson and a member of the Remuneration Committee.
Phumzile Langeni, currently an independent non-executive director of Redefine, will be appointed as the
chairperson and a member of the Audit and Risk Committee. David Nathan will remain a member of the
Audit and Risk Committee and on the board of directors of Redefine as an independent non-executive
director.
Nomalizo Langa-Royds, currently an independent non-executive director of Redefine, will be appointed as
the chairperson and a member of the Social and Ethics Committee. David Nathan will remain a member of
the Social and Ethics Committee.
The board of directors welcomes Bridgitte Mathews to Redefine and thanks the outgoing directors in
advance for their invaluable contributions to the Company and wishes them well in the future.
2 December 2016
Sponsor
Java Capital
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