Picture: ISTOCK
Picture: ISTOCK

SA Corporate Real Estate, the landlord whose board has been in a state of flux in recent months, says the financial director who resigned in May has decided to stay on in the role.

On 19 May, Rory Mackey resigned as MD and Antoinette Basson quit as financial director, with both agreeing to serve their three-month notice periods.

Board changes continued in June, when Jeff Molobela was ousted as chair by the board. Emily Hendricks assumed the role of interim chair. Molobela died later that month. 

SA Corporate said on Monday Basson had rescinded her resignation. 

“The board, after considering various other candidates, has consented and accepted the rescission of Basson’s resignation as financial director,” the company said.

Meanwhile, SA Corporate said it had appointed Arthur Moloto, currently the lead independent director, as chair, with immediate effect.

SA Corporate, whose shares have fallen over the past two years, also said in June it had received buyout and merger offers from a number of suitors.

Earlier in July, Emira Property Fund said it was keen to buy the company. Emira said it planned to offer 0.25 of its shares for every issued SA Corporate share.

hedleyn@businesslive.co.za