Wrap Text
Changes to the board of directors
MAS P.L.C.
Registered in Malta
Registration number C 99355
JSE share code: MSP
ISIN: VGG5884M1041
LEI code: 213800T1TZPGQ7HS4Q13
("MAS" or the "Company")
CHANGES TO THE BOARD OF DIRECTORS
Shareholders are advised that, following interaction with shareholders, changes are being made to the MAS Board of
directors ("Board"). Accordingly, shareholders are hereby advised that the Board has identified suitable candidates,
and it is pleased to announce, in accordance with paragraph 3.59 of the JSE Listings Requirements, the appointments
of Dewald Joubert, Nevenka Crešnar Pergar, George Toma Mucibabici and Yovav Carmi, as Independent Non-
Executive Directors, and Martin Slabbert as Non-Executive Director of the Company with effect from 15 September
2025.
Dewald Joubert is a seasoned professional with experience in international tax law, private equity and real estate
investment. He began his career as an equity partner in a leading offshore law firm, later transitioning to manage an
investment office for a client. His investment focus has been primarily on early-stage private equity and commercial
real estate in Central and Eastern Europe. Dewald has held various executive and non-executive directorships across
private and listed companies. Since 2019, he has worked independently, serving as a director and trustee for select
corporate and family offices, overseeing both fiduciary and investment matters.
Nevenka Crešnar Pergar is the director of NP Consulting, advising foreign investors and Slovenian companies on
strategic investments and real estate projects. She chairs the Board of GlobalAI, Inc (OTC NY) and has held senior
roles in private equity and on boards of major companies like Port of Koper and NEPI. She served in the Slovenian
Government and Ministry of Economy, gaining extensive public sector experience. Nevenka holds a law degree from
the University of Ljubljana and an MBA from Clemson University. She is active in AmCham Slovenia and supports
philanthropic causes for underprivileged children.
George Toma Mucibabici is a Senior Advisor at Alvarez & Marsal and serves on the boards of Teraplast SA and Impact
SA. He was Chairman of Deloitte Romania and Moldova, and previously he was Deputy CEO and CEO of Tiriac Bank
before its merger with HVB and Unicredit. Earlier, he held senior roles at the National Bank of Romania and served as
a Board Member at the IMF in Washington, D.C. He holds a Finance and Accounting degree from the Bucharest School
of Economics and a postgraduate certificate in Board Practice from Henley Business School.
Yovav Carmi is a seasoned executive with extensive experience in international real estate, M&A and corporate
leadership. He is a Board Member at Stoneweg European Stapled Trust. Previously, he was CEO and President of
GTC S.A., a leading CEE real estate group, where he led strategic growth, capital raises and ESG integration. Over
two decades at GTC, he held senior roles including COO and Director of International Activities, overseeing operations,
acquisitions and financial restructuring across multiple countries. Yovav is a licensed CPA with an MBA and law degree
from Tel Aviv University.
Martin Slabbert has over 28 years of experience in real estate, finance and corporate turnarounds, and is the Co-
founder and Chairman of Prime Kapital. He was also Co-Founder and CEO of New Europe Property Investments plc,
leading its growth into a major listed real estate player. He previously served as MAS' CEO (from November 2019) and
as Non-Executive Director (from April 2022 to December 2022). Prior to this, he was Partner at Deloitte Central Europe,
and held senior finance roles at Nedbank Group, Premier Foods, Nedcor Investment Bank, HSBC Investment Services
(Africa) and Arthur Andersen.
Shareholders are further advised that Werner Alberts (Independent Chairman), Claudia Pendred (Lead Independent
Non-Executive Director) and Vasile Iuga (Chair of the Audit and Risk Committee) have tendered their resignations as
Independent Non-Executive Directors of MAS with immediate effect. The Board greatly appreciates their valuable
contributions during their respective tenures, assisting MAS with independent leadership in navigating complex
corporate actions, and wishes them the best in their future endeavours.
As a result of the above appointments and resignations, the Board is currently considering the reconstitution of its
committees. A Chairman will also be appointed and further announcements will be made in due course.
16 September 2025
For further information please contact:
Irina Grigore, MAS P.L.C. +356 27 66 36 91
Valeo Capital, JSE Sponsor +27 21 851 0091
Investec Bank Limited, Corporate Advisor +27 11 291 3269
Webber Wentzel, Legal Advisor
Date: 16-09-2025 05:00:00
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