The board of directors of Grand Parade Investments Limited announced that Mr. Gregory Mark Bortz has been appointed as Chief Executive Officer with effect from 2 May 2023. Mr. Bortz is presently a non-executive member of the Board and will, with effect from the commencement of the CEO Appointment, be reclassified as an executive director of the Company. On 5 April 2023, in terms of which the Board advised of the resignation of Mr. Mohsin Tajbhai from his role as CEO with effect from 4 May 2023.

Given that the CEO Appointment will commence in effect on 2 May 2023, Mr. Tajbhai will cease in his role as CEO with effect from 1 May 2023. Following the cessation of his role as CEO, Mr. Tajbhai will remain a member of the Board in a non-executive capacity.