Emira Property Fund Limited announced that Gerhard van Zyl, an independent non-executive director of the company, who is due to retire by rotation at Emira's upcoming annual general meeting scheduled for 27 September 2023 (the "AGM"), has given notice of his resignation from the board of directors with effect from 1 October 2023. This follows a request from the majority shareholder to have a more active role in the Board's strategic direction. Accordingly, Gerhard will also step down as the chairman of the Board and member of the investment and remuneration & nomination committees with effect from 1 October 2023.

Gerhard has been a director of Emira for 10 years and has served as chairman of the Board for the past 6 years. Emira would like to thank Gerhard for his meaningful contribution over the years including his leadership, wisdom, and stewardship and wishes him all the best for his future endeavours. Following the resignations of Gerhard and Berlina Moroole (announced on SENS on 13 September 2023), James Day has been appointed as a non-executive director of Emira with effect from 1 October 2023, in accordance with Emira's nomination policy, following the request from the majority shareholder to have a more active role in the Board's strategic direction.

James is a CA (SA) and the financial director of Castleview Property Fund Limited. James has international experience in the listed property sector, including BSE-listed RDC Properties between 2019 and 2022, with key commercial expertise in executing on commercial asset acquisitions and developments. Prior experience also includes audit experience in South Africa and the USA with Grant Thornton LLP, as well financial management roles in various entities in Australia between 2014 and 2016.

James Templeton, a non-executive director, has been appointed as the chairman of the Board to replace Gerhard. Derek Thomas, an independent non-executive director, has been appointed as a member of the audit and risk committee to replace Berlina. A lead independent non-executive director will be appointed in due course.

As Gerhard and Berlina were both due to retire by rotation at the AGM, the Board has resolved to withdraw the notice of annual general meeting, such that no annual general meeting will be held on 27 September 2023. A revised notice of annual general meeting will be issued to shareholders as soon as possible.