Burstone Group Limited announced that Mr. Sam Leon has retired as a non- executive director of the Board on the 16 November 2023. Whilst Sam will no longer serve as a member of the Board, he will remain contracted to Burstone in an advisory capacity and will work alongside management on property related matters. Sam has been instrumental in laying down the foundations of the Burstone business and helping drive its growth and development into an integrated international real estate business.

Burstone's history is entrenched in Sam's successful career across all sectors of the property industry. Sam initially served as the CEO of Investec Property Fund (now Burstone) since its listing on the JSE in April 2011 and upon his retirement as CEO on the 31st of March 2015, he continued to serve on the Board as a non-executive director. Sam has over 45 years of experience within the property industry with 30 years at Investec Property (Pty) Ltd, a business he helped build, and where he served as managing director and then as deputy chairman.

He was also instrumental in building and growing Growthpoint into South Africa's largest listed property REIT and was a director until Investec Limited sold its interests in October 2007. Sam was a key driver of the formation of the Investec Australia Property Fund and was a non-executive director from its initial listing in October 2013 until its transformation into Irongate Group in 2019, a business in which Burstone has a 50/50 JV relationship. Sam has also served on the Board of the South African Property Owners' Association (SAPOA).

The company announced that Mr. Paul Andreas Theodosiou has been appointed as an Independent Non-Executive Director to the board of Burstone Group Limited with effect from 16th November 2023. Paul is a Chartered Accountant of the South African Institute of Chartered Accountants and holds an MBA degree from the University of Cape Town. After a decade in the accounting profession, Paul started a commercial property development business in the early 1990's, leading to the JSE listing of Acucap Properties in 2002.

When Acucap was acquired by Growthpoint in 2016, Paul returned to private equity property investment, and has also participated in a number of tech-based start-ups. Outside of the workplace, Paul has a strong commitment to the work of theological training colleges. He has been a board member of the Bible Institute of SA for a number of years, and has also enjoyed a long and fruitful involvement with George Whitefield College.