HPA - Hospitality Property Fund Limited - Resignation of chairman
HPA HPB
HPA
HPA - Hospitality Property Fund Limited - Resignation of chairman
HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A linked units: HPA
ISIN for A linked units: ZAE000076790
Share code of B linked units: HPB
ISIN for B linked units: ZAE000076808
("Hospitality" or "the group")
RESIGNATION OF CHAIRMAN
Unitholders were advised in the cautionary released on 23 January 2012 that
Hospitality was in discussions with Absa Bank Limited ("Absa") and other
funders regarding the re-financing of the group`s current debt facility with
Absa of approximately R1.35 billion.
Nedbank Limited ("Nedbank") has been approached by Hospitality to consider
material additional funding to the group.
Given that Mr Frank Berkeley, Hospitality`s Independent Chairman is employed
by Nedbank and in order to prevent any perceived conflicts of interest in
considering Hospitality`s funding request, Mr Berkeley has under the
circumstances tendered his resignation from Hospitality`s board with
immediate effect.
The board is most grateful to Frank for his valuable leadership and
contribution during his tenure as director and Chairman.
Johannesburg
15 February 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/02/2012 17:21:20 Produced by the JSE SENS Department.
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