Stock Exchange News Service

Update relating to director

MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number 1750199
Registered as an external company in the Republic of South Africa
Registration number 2010/000338/10
JSE share code: MSP
ISIN: VGG5884M1041
LEI code: 213800T1TZPGQ7HS4Q13
(“MAS”, the “group” or the “company”)


MAS announces that Lukas Nakos has informed the board of his intention to step down from his responsibilities as
chief executive officer before the end of the next financial year. This decision was taken to allow Lukas to continue his
defence of the ongoing regulatory action against him in the Isle of Man concerning directorships that are unrelated to
and that pre-date the establishment of MAS, as announced by the company on 24 June 2016. Lukas continues to
enjoy the support of the board and whilst there are no implications for the group from the actions pursued by the
regulator, the disruptive effect of the legal proceedings and the impact of this on Lukas’ role as CEO of MAS, and his
personal life, has brought Lukas to the decision to step down. Lukas believes this to be in the best interests of the
company and a necessary step to enable him to continue his defence against the proceedings. The board regretfully
takes notice of Lukas' decision and wishes to extend its gratitude for the capable leadership Lukas has provided to the
business for the past 8 years.

The strategy of the group remains unchanged and Lukas continues to operate with the full support of the board until a
suitable candidate who can continue to drive the current strategy forward has been appointed and inducted. Further
announcements regarding succession will be made as and when appropriate.

The chairman, Ron Spencer, commented:

“Lukas has made an immense contribution to the growth and development of MAS. Lukas joined the group as a
founding partner in 2009 and has served as CEO since its inception. Lukas was instrumental in establishing MAS as a
recognised and well respected real estate investment company on the JSE and Euro MTF and more recently in
the group’s expansion into the Central and Eastern European region with the establishment of a strategic partnership
with Prime Kapital. The board is immensely grateful to Lukas for his contribution to MAS over the past 8 years”.

MAS is listed on the Main Board of the JSE and on the Euro MTF market of the Luxembourg Stock Exchange.

15 June 2017

For further information please contact:
Malcolm Levy, MAS Real Estate Inc.                                                   +44 1624 625000
Java Capital, JSE Sponsor                                                            +27 11 722 3050
Charl Brand, M Partners, Luxembourg                                                  +352 263 868 602

Date: 15/06/2017 03:30:00 
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