Anthony Diepenbroek, previous CEO of iFour Properties Ltd. who joined the Pangbourne team in July this year, was appointed Executive Director on 19 November and will be responsible for Pangbourne’s asset management activities.

Three Independent Non-Executive directors were appointed on 25 November. They bring with them a diversity of strategic initiative experiences.

Nana Ngobese is currently CEO and a director of AkhaTech (Pty) Ltd. She is experienced in HR consultancy, mainly in technical organisations.  As the former Dean of Management studies at Technikon Mangosuthu, she was responsible for the restructuring of this faculty.  Nana was also an advisor to the Vice-Chancellor of the Natal Technicon on equity management, change management and transformation.

Nene Molefi is currently the Managing Director and owner of Mandate Molefi Human Resources Consultants. She has led her company to become one of the forerunners of Human Resources and Transformation Consulting, resulting in a nomination as one of the Top 300 empowerment companies for 2004. She has a wealth of experience in transformation strategies, leadership, coaching, Employment Equity and Change Management.

Bryan Hopkins was the Chief Investment Officer and Director of Abvest Associates and, prior to that, the Chief Investment Officer and an Executive Director of Old Mutual Asset Managers. Bryan has many years of experience in asset management and is well known for his co-authoring of ‘Generally Accepted Accounting Practice – a South African view’.

“We welcome the new board members, as recognised role players in their respective fields, and look forward to their contribution to Pangbourne’s strategic vision of delivering sustainable increases in distributions to unitholders,” says Peter Campbell, chairman of Pangbourne Properties.

Pangbourne was the first property investment company to use the loan stock structure of variable debenture equity financing.  The first loan stock company to be listed on the JSE in 1987 with income earning assets of R146 million, it continued to set the pace by taking its property management in-house and also became the first to take over another listed loan stock in 1999.

Pangbourne’s vision is to create a property company that can produce sustainable growth in total returns to investors over the long term. This will be achieved mainly by capitalising on the management expertise and experience gained over the years through its own-property management activities.

Pangbourne’s market capitalisation has increased from R250 million in 1998 to the current level of R1, 5 billion. 

Total return to unitholders of 28,2% per annum over the past 5 years is well ahead of the JSE ALSI.  Core to these achievements was the decision to change to own management of its properties, which effectively aligns management’s objectives with those of unitholders.