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Sharenet Sites
Changes to the Board
New Frontier Properties Limited
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number: 123368C1/GBL)
SEM share code: NFP.N0000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or “the Company”)
CHANGES TO THE BOARD
In compliance with section 3.59 of the Listings Requirements of the Johannesburg Stock Exchange (“JSE Listings
Requirements”), shareholders are advised that Mr Theunis Oosthuizen (“Theuns”) has been appointed to the
Board of New Frontier with immediate effect.
The appointment of two Mauritian directors is hampered by the continued trap on the free rental cash flow
imposed by the Group’s lender and a specific term which precludes the payment of any new directors
appointed to the Board from 2019, which Amended Loan Agreements were negotiated by the former Board. In
accordance with the JSE Listings Requirements, the lending terms are considered to be restrictive.
Theuns is aware of these restrictions but is a seasoned Board member who is prepared to offer his time to the
Company whilst it explores new acquisitions, a relaxation of certain onerous terms of the Amended Loan
Agreements with the lender or a restructure or repayment of its facilities.
The Board will be seeking to make new appointments of two Mauritian Directors as soon as possible, given the
funding constraints.
The Board wishes to welcome Theuns to the Board.
BY ORDER OF THE BOARD
28 February 2022
This notice is issued pursuant to SEM Listing Rule 11.3, the JSE Listings Requirements and the Mauritian
Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information
contained in this notice.
For further information please contact:
JSE Sponsor
AcaciaCap Advisors Proprietary Limited
+27 11 480 8500
Date: 28-02-2022 10:00:00
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