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Release Date: 23/09/2021 09:10
Code(s): SAR     PDF:  
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Changes to the Board

(Incorporated in the Republic of South Africa)
(Registration number: 2000/015002/06
Share code: SAR
ISIN: ZAE000188280
(Approved as a REIT by the JSE)
(“Safari” or “the Company”)


In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, the Board
of Directors of the Company (“the Board”) wishes to advise that Mr Steven Herring has been
appointed as a non-executive director and chairman of the Company and chairman of the
investment Committee with effect from 23 September 2021.

Steven, who has a degree in marketing and a MBA, started Heriot Properties (Pty) Ltd
(“Heriot”) in South Africa in 1998 where he led investments into industrial property with blue-
chip covenants that ensured sustainable long term cash flows. In 2003, Steven put a team of
professionals together and started constructing retail shopping centres, focusing on the
CBD’s, rural and township areas. These mass market areas were under serviced and over
20 malls were developed. Today, Heriot is listed as a REIT on the JSE and owns a portfolio
of assets primarily in the industrial and retail sectors valued in excess of R4 billion. Steven is
the non-executive chairman of Heriot.

Mr Greg Heron will remain as an independent non-executive director. Dr. Tumeka Matshoba-
Ramuedzisi will continue in her role as the lead independent non-executive director.

The Board welcomes Mr Herring and looks forward to his contribution to the Company.

23 September 2021

PSG Capital

Date: 23-09-2021 09:10:00
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