Johannesburg, Rebosis Property Fund Limited, a real estate investment trust (REIT) approved by the Johannesburg Stock Exchange (JSE) and currently under business rescue, has announced the resignation of three board members. The company communicated that Mr. Otis Tshabalala, Ms. Zandile Kogo, and Ms. Sandra Mqina have stepped down from their positions effective 13 February 2024.
As Rebosis undergoes business rescue procedures, the Joint Business Rescue Practitioners (Joint BRPs), Phahlani Mkhombo and Jacques du Toit, are now exercising full management control over the company, a measure that supersedes the roles traditionally held by the board and its management. The announcement acknowledges the contributions of the departing members and extends best wishes for their future pursuits.
The company has affirmed its commitment to keeping shareholders informed on the progression of the business rescue process and plans to provide updates on developments and the anticipated direction under the stewardship of the Joint BRPs.
Nedbank Corporate and Investment Banking serves as the sponsor for Rebosis during this critical phase.