Balwin Properties Limited (JSE:BWN) News - Resignation of Chief Financial Officer and changes to the board of directors

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/028851/06
Share code: BWN
ISIN: ZAE000209532
(“Balwin” or “the Company” or “the Group”)


Resignation of Chief Financial Officer and changes to the board of
directors

Shareholders are advised, in accordance with section 3.59 of the JSE
Limited Listings Requirements, that Mr Jonathan Weltman has resigned as
Chief Financial Officer of Balwin and as an executive director with
effect from 31 March 2022, due to health reasons.

The Company would like to express its sincere appreciation to Mr Weltman
for his outstanding contribution, leadership, commitment and service to
Balwin over the past decade and wishes him everything of the best going
forward.

Mr Weltman was appointed as financial manager of Balwin in 2012 where
he played an instrumental role in formalizing the Group’s financial
function and implementing systems and controls to support the growth and
expansion of the business. He was subsequently appointed as an executive
director in 2014, where he spearheaded Balwin’s listing on the JSE in
2015.

Shareholders are further advised that the board of directors of Balwin
(“the board”) has appointed Mr Jonathan Bigham as Chief Financial Officer
and executive director, in line with the Company’s succession planning,
with effect from 1 April 2022. Mr Bigham has also been appointed as a
member of the social, ethics and transformation committee with effect
from 1 April 2022.

Mr Bigham holds a BCom (Hons) and CA (SA) qualification and is a member
of Balwin’s executive committee. He joined Balwin in 2018 as the Group
Finance Manager and has worked very closely with Mr Weltman on the
finance and administration functions of the Group, including cash and
capital management, funding and capital raising, risk management as well
as regulatory and governance matters.

Prior to joining Balwin, Mr Bigham completed his articles at Deloitte.
He subsequently worked for Capital Property Fund in the capacity of
Financial Manager and Company Secretary before re-joining Deloitte as a
senior manager until his appointment at Balwin.

Mr Weltman commented: “It is with gratitude and sadness that I’m stepping
down from Balwin. I am however, immensely proud of what we have achieved
over the past decade, joining Mr Brookes and the team and successfully
listing Balwin on JSE, growing the Company into an international award
winning and largest sectional title developer in South Africa.”

Mr Steve Brookes, founder and CEO commented: “Mr Weltman played a
phenomenal role in corporatizing Balwin and on behalf of the board and
exco team I wish to thank him for his unwavering commitment and
exceptional leadership in transforming the financial function over the
past 10 years.

“I wish to welcome Mr Bigham as Chief Financial Officer and to the board.
We look forward to his ongoing contributions to Balwin’s finance
function.”

Mr Weltman will consult to Balwin as part of the hand-over period.



Bedfordview

04 March 2022

Sponsor: Investec Bank Limited

Date: 04-03-2022 10:33:00
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