Rebosis Property Fund Limited announced the stepping down and retirement of Mr. Sisa Ngebulana as CEO as at September 30, 2017. This allows for a smooth hand over for the next four months to the newly appointed CEO per below note. The Board also announced that Ngebulana has accepted its invitation to take up the position of non-executive Deputy Chairman, effective from October 1, 2017.

The Board is further announced that Ngebulana will retire as an executive director having positioned the business: as a retail focused fund of large dominant shopping malls that enjoys a sovereign underpin on its commercial portfolio; with enviable property assets that are of a superior quality and that are well looked after internally; with experienced and highly skilled management teams with depth and deep knowledge of the business; and on sound footing with systems, processes and well defined accountability and reporting structures. Further, and in accordance with the JSE Listings Requirements, the Board notifies its shareholders of the appointment of Andile Mazwai as CEO with effect from October 1, 2017. This future date will allow for a seamless transition.

Mazwai is the COO of Rebosis and has become intimately involved and knowledgeable with Rebosis' operating environment, people and assets. Mazwai is an accomplished business leader and social entrepreneur. Mazwai founded Mazwai Securities in 2001, which he reversed into Barnard Jacobs Mellet, acquiring 10% of BJM Holdings and was appointed as Co Group CEO.

The Board further intends to announce a new appointment for the COO position Mr. Mazwai will be vacating, who will have strong property and retail skills and experience, more-so given the tough macro-economic cycle in SA affecting the property sector.