Loading...
About 2018-02-20T10:32:53+00:00

Business Overview

Freedom is a capital growth fund which was formed in 2012 and listed on the JSE main board on 12 June 2014.

At the listing date Freedom retained a diverse portfolio of strategically acquired properties across all primary sectors of the industry, namely commercial, industrial and predominantly residential, which held a combined value of approximately R1.5 billion.

Freedom aims to be a major competitor, and as such be well recognised, in the South African property space.

A unique business model

Although initiated as a capital growth fund, Freedom has a distinctive long-term design which will ensure that shareholders obtain optimal value from investing in us.

The design is that the capital growth component will later be coupled with an income annuity, thereby converting Freedom from a capital growth fund to a Real Estate Investment Trust (“REIT”) structure, which will be a feature unique to Freedom.

Freedom’s market capitalisation at 28 February 2015 was R390 million and its total property value was R1.67 billion with many value adding developments still in progress at year-end.

It is also important to note however, that Freedom made strategic disposals through this period which lessened portfolio growth and allowed for capital to develop other key projects.

The highly experienced management team has strategically developed a geographically diversified R10 billion pipeline with proposed

acquisitions that will add to this value frequently. In so doing the team believes that the portfolio value has the potential to experience exponential capital growth.

Vital operational facilitators:

  • Experienced internalised Management Committee.
  • Internalisation of all asset-related processes including acquisition and development, and management and oversight.

Maintenance of strategic alliances.

Management Overview

Freedom’s management team comprise of individuals with extensive experience in the property industry and a strong representation of black persons. Freedom’s management team scores strongly for the requirements under the Property Sector Code for the representation of black persons at board level and senior management.

The management structure also receives significant ongoing input from the vendors of the Freedom projects, who will collectively continue to hold a significant shareholding in Freedom in terms of the acquisition agreements. The vendors have market knowledge, skills and expertise, and a vested interest in the development of the Freedom property portfolio.

The asset and property management function of the Freedom property portfolio will be internalised within the Company and will be phased in over the short to medium term. As a temporary measure the current property manager for Steelpoort Industrial Park, Willem Jansen van Rensburg who has been managing the portfolio since 2010, has been retained to ensure continuity and a seamless transition post listing.

Executive Management

Mr. Stephen Maritz –   Chief Executive Officer

Mr. Maritz has a B.Com degree in Marketing and Economics from the University of Pretoria.   He has almost 30 years experience in Financial Markets and the JSE, during which time he has been involved in many deals that have created significant value for shareholders.   He was previously co-owner of Ryan Anderson and Co,   a stock brokering firm registered with the JSE, where he served as a Dealmaker and Managing Director for six years.

Mr. Jonathan George –   Interim Chief Financial Officer

Mr George is the managing director of Quantum Advisory Services Proprietary Limited (Quantum). Prior to founding Quantum, he served as a director at the accounting firm, Grant Thornton. Before joining Grant Thornton, Mr George was employed as an associate director in the forensic business unit at KPMG and as a partner in the forensic department at SizweNtsaluba, respectively.

Mr. Willem Jansen Van Rensburg – EXECUTIVE DIRECTOR

An experienced attorney, Mr van Rensburg joined Freedom as a legal advisor to the Company in November 2014 following his role as an Associate with Du Toit-Smuts & Mathews Phosa Attorneys in Nelspruit. Prior to this Mr van Rensburg practised law for 17 years with van Rensburgs Attorneys. Following his graduation from the University of Johannesburg, receiving his B.A Law and B. Proc degrees in 1992, Mr van Rensburg joined the legal profession and has been an active member of the legal community for over 20 years.

Directors

Mr. Willem Stephanus Grobbelaar
Independent Non-Executive Chairman
Mr. Grobbelaar holds a Bsc Geology from the University of Stellenbosch and is a dedicated business leader with strong business acumen and extensive general and technical management experience in the mining industry, including wide experience and skills in commercial management, general management, project management, continuous improvement and business engineering. Mr. Grobbelaar was involved in the Development and Implementation of an employee home ownership housing strategy at Khumani Iron Ore Mine, including negotiations with local authorities to secure land, development of serviced stands and construction of houses. Mr. Grobbelaar has served on various committees, Development Associations, District Council and Sport Organising structures and has served as the chairperson of the Northern Cape Mine Managers Association.
Mr. Stephen Maritz
Chief Executive Officer
Mr. Maritz has a B.Com degree in Marketing and Economics from the University of Pretoria. He has almost 30 years experience in Financial Markets and the JSE, during which time he has been involved in many deals that have created significant value for shareholders. He was previously co-owner of Ryan Anderson and Co, a stock brokering firm registered with the JSE, where he served as a Dealmaker and Managing Director for six years.
Dr. Phillip David Dexter
Independent Non-Executive Director
Dr. Dexter has an academic research and political career spanning over 35 years. He has served on a number of boards in both an executive and non-executive role for organisations of a profit and non-profit nature. He has served as a member of Parliament and in various leadership positions in political organisations. He holds a Bachelor of Arts degree from UCT as well as a Master of Philosophy and Doctor of Philosophy from the same institution. He has a wide range of skills and expertise encompassing general managerial, financial, project management, mediation, arbitration, research and administration. He has edited a number of books and published a number of articles and essays. The board is confident that the company will benefit from Dr. Dexter’s future contribution.
Mr. Hugo Amos Lambrechts
Non-Executive Director
Mr. Lambrechts has 30 years of wide-ranging experience as a property developer and has, in aggregate, developed more than 2500 residential units. Amoungst others he was the driving force behind the development of the Welgevonden Estate, a residential estate boasting 1250 units. Mr. Lambrechts is involved in numerous companies focussed on commercial and residential property development.
Mr. Willem Jansen Van Rensburg
Executive Director
An experienced attorney, Mr van Rensburg joined Freedom as a legal advisor to the Company in November 2014 following his role as an Associate with Du Toit-Smuts & Mathews Phosa Attorneys in Nelspruit. Prior to this Mr van Rensburg practised law for 17 years with van Rensburgs Attorneys. Following his graduation from the University of Johannesburg, receiving his B.A Law and B. Proc degrees in 1992, Mr van Rensburg joined the legal profession and has been an active member of the legal community for over 20 years.
Mr. Conrad Sidego
Independent Non-Executive Director
Mr Sidego was the previous executive mayor of the Stellenbosch Municipality and has a BA degree in Communications and Political Science. He started his career in journalism writing freelance articles, whereafter he was offered a full time position with Die Burger, followed by a position with Rapport, including as the editor of Ekstra (Rapport). Sixteen years in journalism was followed by an appointment as the Manager: Corporate Communications at Anglo American Corporation. Mr Sidego served as South Africa’s ambassador in Denmark shortly after the release of Mr Nelson Mandela and played an instrumental role in facilitating Denmark’s vote to ensure a unanimous upliftment of sanctions against South Africa by the European Community. Upon his return from Denmark he became a member of the Naspers and Media24 management teams, serving nine years before leaving to pursue other interests.

BEE Overview

The South African property sector has committed itself to the implementation of a transformation charter in order to strive for transformed property relations in South Africa and to promote a vibrant and growing property sector that reflects the South African nation as a whole and contributes towards development and the establishment of an equitable society.

The property charter constitutes a framework and establishes the principles upon which BEE will be implemented to transform the property sector as contemplated in the BEE Codes, which lay the basis for the development of a code of good practice for the property sector. The Property Sector Code was gazetted and has been effective from 1 June 2012.

It also further establishes targets and qualitative undertakings in respect of each element of BEE and outlines processes for implementing the commitments contained in the charter, as well as mechanisms to monitor and report on progress. The framework and measurements that apply to the Property Sector Code are as follows:

  • Ownership
  • Control
  • Employment Equity
  • Skills Development
  • Preferential Procurement
  • Enterprise Development
  • Corporate Social Investment

With respect to the ownership element of the Property Sector Code, the ownership target that has been set out in the Codes and the Property Sector Code is 25% black ownership (plus 1 share) within a period of five years. Not only seeking to make its own impact on the transformation of the property sector through the achievement of the aforementioned ownership targets, Freedom also recognises the potential commercial advantages that being suitably empowered offers. Many of Freedom’s potential future tenants will be subject to various transformation charters in their own respective industries, which will result in them seeking to maximise their BEE procurement points in terms of those transformation charters. These potential future tenants will therefore be able to achieve these procurement points through their rental being procured through an empowered service provider in Freedom.

In line with the above, the board of Freedom fully embraces the principles of the Codes and will be considering the implementation of an appropriate BEE ownership structure in the short to medium term. On listing approximately 70% of the board comprises of black individuals, as defined by the Codes.

Business Overview

Freedom is a capital growth fund which was formed in 2012 and listed on the JSE main board on 12 June 2014.

At the listing date Freedom retained a diverse portfolio of strategically acquired properties across all primary sectors of the industry, namely commercial, industrial and predominantly residential, which held a combined value of approximately R1.5 billion.

Freedom aims to be a major competitor, and as such be well recognised, in the South African property space.

A unique business model

Although initiated as a capital growth fund, Freedom has a distinctive long-term design which will ensure that shareholders obtain optimal value from investing in us.

The design is that the capital growth component will later be coupled with an income annuity, thereby converting Freedom from a capital growth fund to a Real Estate Investment Trust (“REIT”) structure, which will be a feature unique to Freedom.

Freedom’s market capitalisation at 28 February 2015 was R390 million and its total property value was R1.67 billion with many value adding developments still in progress at year-end.

It is also important to note however, that Freedom made strategic disposals through this period which lessened portfolio growth and allowed for capital to develop other key projects.

The highly experienced management team has strategically developed a geographically diversified R10 billion pipeline with proposed

acquisitions that will add to this value frequently. In so doing the team believes that the portfolio value has the potential to experience exponential capital growth.

Vital operational facilitators:

Experienced internalised Management Committee.

Internalisation of all asset-related processes including acquisition and development, and management and oversight.

Maintenance of strategic alliances.

Management Overview

Freedom’s management team comprise of individuals with extensive experience in the property industry and a strong representation of black persons. Freedom’s management team scores strongly for the requirements under the Property Sector Code for the representation of black persons at board level and senior management.

The management structure also receives significant ongoing input from the vendors of the Freedom projects, who will collectively continue to hold a significant shareholding in Freedom in terms of the acquisition agreements. The vendors have market knowledge, skills and expertise, and a vested interest in the development of the Freedom property portfolio.

The asset and property management function of the Freedom property portfolio will be internalised within the Company and will be phased in over the short to medium term. As a temporary measure the current property manager for Steelpoort Industrial Park, Willem Jansen van Rensburg who has been managing the portfolio since 2010, has been retained to ensure continuity and a seamless transition post listing.

Executive Management

Mr. Steven Maritz –   Chief Executive Officer

Mr. Maritz has a B.Com degree in Marketing and Economics from the University of Pretoria.   He has almost 30 years experience in Financial Markets and the JSE, during which time he has been involved in many deals that have created significant value for shareholders.   He was previously co-owner of Ryan Anderson and Co,   a stock brokering firm registered with the JSE, where he served as a Dealmaker and Managing Director for six years.

Mr. Jonathan George –   Interim Chief Financial Officer

Mr George is the managing director of Quantum Advisory Services Proprietary Limited (Quantum). Prior to founding Quantum, he served as a director at the accounting firm, Grant Thornton. Before joining Grant Thornton, Mr George was employed as an associate director in the forensic business unit at KPMG and as a partner in the forensic department at SizweNtsaluba, respectively.

Mr. Willem Jansen Van Rensburg – EXECUTIVE DIRECTOR

An experienced attorney, Mr van Rensburg joined Freedom as a legal advisor to the Company in November 2014 following his role as an Associate with Du Toit-Smuts & Mathews Phosa Attorneys in Nelspruit. Prior to this Mr van Rensburg practised law for 17 years with van Rensburgs Attorneys. Following his graduation from the University of Johannesburg, receiving his B.A Law and B. Proc degrees in 1992, Mr van Rensburg joined the legal profession and has been an active member of the legal community for over 20 years.

Directors

Mr. Willem Stephanus Grobbelaar
Independent Non-Executive Chairman
Mr. Grobbelaar holds a Bsc Geology from the University of Stellenbosch and is a dedicated business leader with strong business acumen and extensive general and technical management experience in the mining industry, including wide experience and skills in commercial management, general management, project management, continuous improvement and business engineering. Mr. Grobbelaar was involved in the Development and Implementation of an employee home ownership housing strategy at Khumani Iron Ore Mine, including negotiations with local authorities to secure land, development of serviced stands and construction of houses. Mr. Grobbelaar has served on various committees, Development Associations, District Council and Sport Organising structures and has served as the chairperson of the Northern Cape Mine Managers Association.
Mr. Stephen Maritz
Chief Executive Officer
Mr. Maritz has a B.Com degree in Marketing and Economics from the University of Pretoria. He has almost 30 years experience in Financial Markets and the JSE, during which time he has been involved in many deals that have created significant value for shareholders. He was previously co-owner of Ryan Anderson and Co, a stock brokering firm registered with the JSE, where he served as a Dealmaker and Managing Director for six years.
Dr. Phillip David Dexter
Independent Non-Executive Director
Dr. Dexter has an academic research and political career spanning over 35 years. He has served on a number of boards in both an executive and non-executive role for organisations of a profit and non-profit nature. He has served as a member of Parliament and in various leadership positions in political organisations. He holds a Bachelor of Arts degree from UCT as well as a Master of Philosophy and Doctor of Philosophy from the same institution. He has a wide range of skills and expertise encompassing general managerial, financial, project management, mediation, arbitration, research and administration. He has edited a number of books and published a number of articles and essays. The board is confident that the company will benefit from Dr. Dexter’s future contribution.
Mr. Hugo Amos Lambrechts
Non-Executive Director
Mr. Lambrechts has 30 years of wide-ranging experience as a property developer and has, in aggregate, developed more than 2500 residential units. Amoungst others he was the driving force behind the development of the Welgevonden Estate, a residential estate boasting 1250 units. Mr. Lambrechts is involved in numerous companies focussed on commercial and residential property development.
Mr. Willem Jansen Van Rensburg
Executive Director
An experienced attorney, Mr van Rensburg joined Freedom as a legal advisor to the Company in November 2014 following his role as an Associate with Du Toit-Smuts & Mathews Phosa Attorneys in Nelspruit. Prior to this Mr van Rensburg practised law for 17 years with van Rensburgs Attorneys. Following his graduation from the University of Johannesburg, receiving his B.A Law and B. Proc degrees in 1992, Mr van Rensburg joined the legal profession and has been an active member of the legal community for over 20 years.
Mr. Conrad Sidego
Independent Non-Executive Director
Mr Sidego was the previous executive mayor of the Stellenbosch Municipality and has a BA degree in Communications and Political Science. He started his career in journalism writing freelance articles, whereafter he was offered a full time position with Die Burger, followed by a position with Rapport, including as the editor of Ekstra (Rapport). Sixteen years in journalism was followed by an appointment as the Manager: Corporate Communications at Anglo American Corporation. Mr Sidego served as South Africa’s ambassador in Denmark shortly after the release of Mr Nelson Mandela and played an instrumental role in facilitating Denmark’s vote to ensure a unanimous upliftment of sanctions against South Africa by the European Community. Upon his return from Denmark he became a member of the Naspers and Media24 management teams, serving nine years before leaving to pursue other interests.

BEE Overview

The South African property sector has committed itself to the implementation of a transformation charter in order to strive for transformed property relations in South Africa and to promote a vibrant and growing property sector that reflects the South African nation as a whole and contributes towards development and the establishment of an equitable society.

The property charter constitutes a framework and establishes the principles upon which BEE will be implemented to transform the property sector as contemplated in the BEE Codes, which lay the basis for the development of a code of good practice for the property sector. The Property Sector Code was gazetted and has been effective from 1 June 2012.

It also further establishes targets and qualitative undertakings in respect of each element of BEE and outlines processes for implementing the commitments contained in the charter, as well as mechanisms to monitor and report on progress. The framework and measurements that apply to the Property Sector Code are as follows:

  • Ownership
  • Control
  • Employment Equity
  • Skills Development
  • Preferential Procurement
  • Enterprise Development
  • Corporate Social Investment

With respect to the ownership element of the Property Sector Code, the ownership target that has been set out in the Codes and the Property Sector Code is 25% black ownership (plus 1 share) within a period of five years. Not only seeking to make its own impact on the transformation of the property sector through the achievement of the aforementioned ownership targets, Freedom also recognises the potential commercial advantages that being suitably empowered offers. Many of Freedom’s potential future tenants will be subject to various transformation charters in their own respective industries, which will result in them seeking to maximise their BEE procurement points in terms of those transformation charters. These potential future tenants will therefore be able to achieve these procurement points through their rental being procured through an empowered service provider in Freedom.

In line with the above, the board of Freedom fully embraces the principles of the Codes and will be considering the implementation of an appropriate BEE ownership structure in the short to medium term. On listing approximately 70% of the board comprises of black individuals, as defined by the Codes.