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Vukile Property chairman to retire

Vukile Property Fund Ltd. Chairman Anton Botha will step down, in place of which the shopping centers landlord will position Nigel Payne.

Botha will retire from the board of directors after holding the chairmanship since 2004.

At the same time, Payne's current role as chairman of the audit and risk committee will be transferred to Babalwa Ngonyama, who joined the board in February. Ngonyama also chairs the audit committees for both Aspen Pharmacare Holdings Ltd. and Clover Industries Ltd.

Vukile further disclosed that Peter Moyanga will exit the audit and risk committee but will remain as a board member.

The changes will come into effect at the annual general meeting, slated to occur on or about Aug. 14.

Additionally, the real estate investment trust will appoint Renosi Mokate lead independent non-executive director, effective June 1. Mokate, who joined the board in 2013, also chairs the Government Employees Pension Fund.