Velocity Property Group Limited appointed Mr. Peter Lewis as the new independent non-executive chairman of Velocity, effective from 2nd November 2020. Current chairman, Mr. Tony Pitt, will remain a non-execute director of Velocity. Mr. Lewis is currently the chair of McGrath Limited The Board has established an Independent Board Committee comprising Mr. Lewis and Mr. Philip Raff to consider and opine on the proposal from 360 Capital Group. The IBC looks forward to updating shareholders on this proposal in due course.