Attacq announces board restructuring

6 Jul 2015

Attacq, a JSE-listed property capital growth fund, has announced that Louis van der Watt, a previous executive director, is now becoming a non-executive director of the company.

In addition, Brett Nagle joins the board as non-executive director, representing significant Attacq shareholder Royal Bafokeng Holdings (RBH) and Wilhelm Nauta is now considered to be an independent non-executive director.

"Our new board structure furthers our commitment to excellent corporate governance and compliance, and ensures our strong position for the future," comments Morné Wilken, CEO of Attacq.

As part of the Attacq listing on the JSE in October 2013, Van der Watt, who is CEO of Atterbury Property Holdings, committed to serve as an executive director of Attacq until 30 June 2015.

Continuity of management

"Louis played a central role in the growth and listing of Attacq on the JSE. We thank him for his invaluable contribution to establishing Attacq and his commitment to ensuring continuity of management and the transfer of knowledge and skills in an executive capacity during our early years," Wilken says.

"We look forward to continuing our valued relationship with Louis in his new role as non-executive director of Attacq and his continued service on Attacq's Investment Committee. Attacq will continue to enjoy the ongoing benefit of Louis' wealth of property and business expertise. Of course, given Atterbury's role as Waterfall's developer and Atterbury's 20% stake in the Mall of Africa, our interaction will be as frequent as in the past."

Joining the Attacq board from 1 July 2015, Brett Nagle is a chartered accountant with extensive experience in investment banking, corporate finance and mining. Nagle is the head of investments at RBH and also serves as a non-executive director of Impala Platinum.