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Appointment of Board Chair and changes to Board Committee composition
INVESTEC PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 2008/011366/06)
Approved as a REIT by the JSE
Share Code: IPF
Bond Code: INV
ISIN: ZAE000180915
("Investec Property Fund" or "the Fund")
Appointment of Board Chair and changes to Board Committee composition
Investors are advised that following the announcement on 10 August 2021 of the passing of the Board
Chair, Sam Hackner, the Board of Directors (Board) have considered the significant contribution Sam has
made to the Fund and the vacancies he has also left on the Nominations Committee and Investment
Committee.
Board Chair
The Board has appointed Moses M Ngoasheng (Moss) as the Independent Non-Executive Board Chair
with effect from 06 September 2021.
Moss has served as a Director on the Board of the Fund since 2011 and acted as the Lead Independent
Non-Executive Director since 2016. Prior to 1994, Moss was involved in economic policy formulation as
part of the ANC’s economic policy division and joined the Presidency as Economic Advisor to Deputy and
later President Mbeki from 1995 to 2000. He is currently the Deputy Chairman and CEO of Safika Holdings
(Pty) Ltd, a substantial investment holding company which he formed in 1994. Moss serves on the boards
of Sephaku Holdings Ltd, Business Leadership South Africa, The Nelson Mandela Children’s Hospital and
other unlisted subsidiaries and associates of Safika Holdings.
While Moss has served for more than nine years, the Board has conducted an internal independence
assessment and is comfortable that he is independent and well placed to ensure a seamless transition
given the circumstances. The Board is confident that he is highly qualified and experienced to lead the
Fund forward in an increasingly complex environment.
Audit and Risk Committee
In line with Moss’ appointment as Board Chair, he will step down as a member of the Audit and Risk
Committee.
Social and Ethics Committee
Moss will remain a member of the Social and Ethics Committee (SEC), however Connie Mashaba, a fellow,
long-standing member of the SEC, will assume the role of SEC chair.
Nominations Committee
Moss will assume the role of Nominations Committee (NC) chair and Philip Hourquebie is appointed as a
member of the NC.
Investment Committee
Sam Leon, a long-standing director and member of the Investment Committee (IC) with immeasurable
property experience, will assume the role of IC chair.
The Board wishes Moss, Connie, Sam and Philip well in their new roles.
Investec Property Fund
Johannesburg
07 September 2021
Sponsor: Investec Bank Limited
Date: 07-09-2021 03:00:00
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