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VUKILE PROPERTY FUND LIMITED - Changes to the board of directors of the company

Release Date: 29/05/2018 13:50
Code(s): VKE VKC25 VKE07 VKE08 VKE09 VKE10 VKE11 VKE12 VKC23 VKC24     PDF:  
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Changes to the board of directors of the company

VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
JSE share code: VKE NSX share code: VKN
Debt company code: VKEI
ISIN: ZAE000180865
(Granted REIT status with the JSE)
("Vukile" or "the company")

CHANGES TO THE BOARD OF DIRECTORS OF THE COMPANY

Shareholders are advised that Mr. Anton Botha has communicated his intention to retire from the board of
directors of the company (the "board") at the upcoming annual general meeting ("AGM") which is
anticipated to be held on or about 14 August 2018. Anton has been chairman of the board since the
company's listing on the JSE in 2004. Vukile has been most fortunate to benefit from his vast experience,
wisdom, skill and leadership since the company's inception. The board would like to thank Anton for his
invaluable contribution to Vukile and wishes him every success in the future.

Mr. Botha will be succeeded by Mr. Nigel Payne who is currently the chairman of the Audit and Risk
Committee. Mr. Payne joined the Vukile board in 2012 and has an in-depth understanding of the business.
The board looks forward to his continued valuable contribution to the company in his new role as chairman
of the board, where the company will benefit from his vast experience and expertise across industries.

In line with recommendations contained in the King IV Report on Corporate Governance, Dr. Renosi
Mokate will assume the role of lead independent non-executive director with effect from 1 June 2018.
Dr. Mokate is a former deputy governor of the South African Reserve Bank, former executive director of the
World Bank and is currently chairperson of the Government Employees Pension Fund. Dr. Mokate joined
the board of Vukile in 2013.

In light of Mr. Payne's intended role as chairman of the board, Vukile has reconstituted the Audit and Risk
Committee. Ms. Babalwa Ngonyama, who joined the board in February 2018 will assume the role of
chairman of the Audit and Risk Committee at the AGM. Ms. Ngonyama brings significant experience to her
new role and currently serves as the chairperson of the audit committees for both Aspen Pharmacare
Holdings Limited and Clover Industries Limited, both listed on the JSE.

Mr. Peter Moyanga, who has served on the Audit and Risk Committee since its inception in 2004, will retire
from the Audit and Risk Committee at the AGM but will remain a member of the board.

29 May 2018

JSE sponsor                                        NSX sponsor

Java Capital                                       IJG Securities (Pty) Ltd

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