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Change In Executive Functions
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
(“Spear” or “the Company”)
CHANGE IN EXECUTIVE FUNCTIONS
In accordance with paragraph 3.59(c) of the Listings
Requirements of the JSE Limited, shareholders are hereby advised
that Quintin Rossi has succeeded Mike Flax as the new chief
executive officer of Spear, with effect from today, 17 May 2018.
Mike Flax’s role within Spear has changed to that of executive
deputy chairman, with effect from the same date. Going forward
Mike will focus his energy on strategic growth plans for Spear’s
development pipeline and on unlocking value for the portfolio.
Mike will continue to be a key mentor to Quintin as he assumes
the leadership of Spear.
Outgoing CEO Mike Flax said “Quintin has visibly demonstrated
his abilities at the highest level and is ready to be handed
the leadership mantel and take Spear forward into the next
era. I know that the entire board has full faith in Quintin’s
talents and strengths while the staff have huge respect for
his management style and decision-making skills”.
Newly appointed CEO Quintin Rossi said “I’ve had and will
continue to be fortunate to have Mike as a key mentor as I,
together with my executive team, execute the mission statement
of Spear and continue to deliver on the platform Mike has set
for us since listing. Spear will continue on its path of focusing
on growth in annual distributions ahead of inflation, investment
into high quality assets within the Western Cape and to be the
landlord of choice in the region.”
Cape Town
17 May 2018
Sponsor
PSG Capital
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