JP Snyman, the chair of embattled mall owner Safari Investments, resigned on Tuesday, a move welcomed by minority shareholders who maintain there has been value destruction at the group.

The company has been criticised by its minority shareholders for refusing to accept a takeover bid from Community Property (ComProp) in favour of one from Fairvest, which was lower. They were also concerned about related-party deals, which have been in place since before the company listed in 2014.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.