Equites Property Fund Limited announced that independent non-executive director, Cindy Hess, has resigned from the board of directors of Equites with effect from 15 July 2022, in order to pursue a full- time executive management role with another listed company. Shareholders and noteholders are further advised that, Nazeem Khan, who was due to retire by rotation at the Company's annual general meeting, has informed the board that he will not offer himself up for re-election and will accordingly step down as a member of the board with effect from 17 August 2022, following the conclusion of the annual general meeting. Nazeem has served on the board for over eight years and his decision to retire is aligned to Equites' policy of limiting the tenure of long-serving directors in line with the recommendations of King IV.

The board has resolved to appoint Keabetswe Ntuli as chairperson of the Remuneration Committee following Nazeem's retirement.