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NEPI ROCKCASTLE PLC - Written request for independent investigation

Release Date: 31/08/2018 14:00
Code(s): NRP     PDF:  
Wrap Text
Written request for independent investigation

NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
JSE share code: NRP
Euronext share code: NRP
("NEPI Rockcastle" or "the Company")


The board of directors of NEPI Rockcastle (the "board") has received a letter from ten South African institutional
investors, delivered via the office of Coronation Fund Managers on 23 August 2018, requesting an independent
investigation of all allegations made against the Company, its directors and closely associated parties (the "letter"). The
Company has not yet been able to verify the shareholding of each of the signatories of the letter in NEPI Rockcastle.

While the Company is not aware of any specific allegations related to the business, and is satisfied with the integrity of
its business practices, the board regards the letter and its requests in a serious light and has accordingly established a
special board sub-committee (the "sub-committee") to address the matter. The members of the sub-committee are the
chair of the board (Robert Emslie), the chair of the audit committee (Andre van der Veer), the chief executive officer
(Alex Morar) and the chief financial officer (Mirela Covasa).

The sub-committee has been mandated by the board to, independently of the other three companies to which the
letter is addressed:
     - engage with those signatories of the letter who are shareholders in the Company (i) to clarify the specific issues
       or concerns that they may have pertaining to NEPI Rockcastle and (ii) to determine if and how such shareholders
       would like the Company to investigate these matters;
     - engage with significant shareholders that are not signatories of the letter to obtain their views on the content and
       requests set out therein and ascertain whether they support the requested investigation; and
     - determine the scope and costs of any independent investigation and the impact thereof on the shareholders of
       the Company.

Shareholders are further advised that the Company is aware that the Financial Services Conduct Authority in South
Africa (“FSCA”) is currently investigating possible prohibited trading practices in respect of NEPI Rockcastle shares
traded on the JSE. Although not an investigation into the business affairs of the Company, NEPI Rockcastle has and
will continue to co-operate fully with the FSCA investigation. The sub-committee has been mandated by the board as
far as possible to ascertain the status of the FSCA investigation.

Shareholders will be kept informed about the progress of the sub-committee's work in due course.

For further information please contact:

NEPI Rockcastle plc
Alex Morar                                                    +40 21 232 1398

JSE sponsor
Java Capital                                                  +27 11 722 3050

Euronext Listing Agent
ING Bank                                                      +31 20 563 6799

Media Relations                                     
Brunswick Group LLP                                           +44 20 7404 5959

31 August 2018

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