April 18, 2018 / 10:14 AM / a month ago

South Africa's Rebosis CEO resigns, postpones H1 results

JOHANNESBURG, April 18 (Reuters) - South Africa’s Rebosis Property Fund said on Wednesday its Chief Executive Officer, Andile Mazwai, had resigned and the firm would postpone the release of its interim financial results, sending shares down more than 10 percent.

The company said in a statement its current Executive Deputy Chairman Sisi Ngebulana would be appointed as the interim CEO.

Mazwai, who was at the helm since October 2017, stepped down with immediate effect for personal reasons, the company said.

It added that it would postpone its interim results to May 8 and delay its dividend payment to 28 May.

Shares in Rebosis’s fell as much as 10.4 percent and traded at 9.08 percent lower at 7.41 rand ($0.6) by 1007 GMT. ($1 = 11.9937 rand) (Reporting by Patricia Aruo Editing by James Macharia)

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