10 December 2018 08:00:10 PM

Rebosis Property CEO resigns with immediate effect

- 2018-04-18 12:01:19 PM

Rebosis Property Fund Limited Board of Directors advised shareholders that Mr Andile Mazwai, for personal reasons, resigned with immediate effect as Chief Executive Officer (“CEO”) from the Board and the Company, which the Board duly accepted.

The Board has requested Mr Sisa Ngebulana, given his vast experience and intimate knowledge of the business, to step into an executive capacity and assume the functions of a chief executive officer in his role as Executive Deputy Chairman with immediate effect. Mr Ngebulana duly accepted this request. The Board wishes to point out that this role will not be permanent but will endure until a suitable and well experienced CEO candidate has been appointed.

Mr Ngebulana has some 25 years of experience in the property sector. He is the founder of Rebosis and served as CEO prior to taking up his non-executive deputy Chairman role in October 2017. He remains a significant shareholder in Rebosis and the Board is pleased that he has accepted this role, especially given his alignment to shareholder interests and excellent relationships with funders, tenants, staff and shareholders at large.

To allow Mr Ngebulana time to acquaint and update himself with the latest operational matters and financial aspects of the Company for the six months ended 28 February 2018, the Board has decided to move the results presentation date scheduled for Monday, 23 April 2018 to Tuesday, 8 May 2018 at 10h00.

The Board anticipates that the payment date of cash dividend number 15 will now take place on Monday, 28 May 2018.

Board Chairman Dr. Anna Mokgokong commented as follows:

“We respect Mr Mazwai’s decision, accept his resignation and wish him well in his future endeavours. We are pleased Mr. Ngebulana accepted this transitional responsibility as he comes with a wealth of experience that the Company was founded and built on and are confident that he will, together with the executive team, continue to deliver on our strategy.”

 
 

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