BALWIN PROPERTIES LIMITED - Changes to the Board of Directors

Changes to the Board of Directors

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
(“Balwin” or “the company” or “the group”)


CHANGES TO THE BOARD OF DIRECTORS


In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of
directors of the company (“the Board”) wishes to advise shareholders that Messrs Duncan
Westcott and Julian Scher were appointed as independent non-executive directors to the
Board with effect from 9 October 2019.

Mr Rodney Gray stepped down as an Executive Director of the Board on the same date to
focus on the operational daily running of Balwin Properties as the Managing Director.

Mr Duncan Westcott (CA(SA)) served as a partner of PricewaterhouseCoopers for over 20
years where his roles included national staff partner, national head of small business practice
and lead partner of transaction services in the Western Cape. He also has extensive financial
and commercial experience. Mr Westcott is chairman of Standard Bank Mauritius as well as
an independent non-executive director and chairman of the audit committee at Lewis Group
Limited. Mr Westcott will also be appointed as a member of the audit and risk committee of
Balwin Properties Limited.

Mr Julian Scher (B.Com, LLB) was articled and an associate at Webber Wentzel. Subsequently,
Mr Scher expanded his experience spending a few years at UAL Merchant Bank. Mr Scher’s
focus is predominantly on the commercial aspects of property development, sectional title,
property litigation, town planning work and conveyancing. In 1994, he and Johan Strauss
founded Strauss Scher Attorneys and he is still practicing law as the Senior Director at Strauss
Scher.

The Board welcomes Duncan and Julian and look forward to benefiting from their vast
experience. The Board also thanks Rodney for his contributions at board level and look forward
to his continued contributions on an operational level as the Managing Director of Balwin
Properties.

Board composition

Following the above changes the composition of the Board is as follows:

Mr Hilton Saven                       Independent non-executive/Chairman
Ms Kholeka Mzondeki                   Independent non-executive director
Ms Thoko Mokgosi/Mwamtembe            Independent non-executive director
Mr Tomi Amosun                        Independent non-executive director
Mr Arnold Shapiro                     Independent non-executive director
Mr Julian Scher                       Independent non-executive director
Mr Duncan Westcott                    Independent non-executive director
Mr Ronen Zekry                        Non-executive director
Mr Steven Brookes                     Chief executive officer
Mr Jonathan Weltman                   Chief financial officer
                                 


Bedfordview
11 October 2019

Sponsor: Investec Bank Limited

Date: 11/10/2019 07:05:00
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