OASIS CRESCENT PROPERTY FUND ANNUAL

Board of Directors

BOARD OF DIRECTORS The board of OCPFM is the highest decision-making body and it is the board that approves; and monitors strategy and implementation. It meets semi-annually and comprises 4 non-executive directors and 4 executive directors. The board has adopted a formal and transparent policy for appointing directors to the board. It has maintained the responsibility for conducting interviews for new directors. It has also approved a gender diversity policy as well as a race diversity policy in line with the JSE Listings Requirements and assesses factors such as gender, skill set, race, integrity as well as the candidate’s fit with the Group’s culture. OCPFM believes that race and gender diversity at board level help achieve its business goals through an improved understanding of the diverse environment in which the Group operates. During the period under review, the board welcomed Ms Zahrah Ebrahim as a member of the board. The board will consider and annually agree on measurable targets for achieving race and gender diversity at board level. In identifying suitable candidates for appointment to the board, the board will consider individuals on merit measured against objective criteria and with due regard for the potential benefits of race and gender diversity. Responsibilities of the board include, being responsible for strategy, strategic decision-making and execution of same, ensuring that all communication with stakeholders is transparent, approving and adopting the Fund’s annual budget and compliance with relevant regulatory and legislative requirements as they pertain to the Fund and the governance thereof. The board has discharged its responsibilities through the establishment of an effective compliance framework and internal audit process. This is to ensure that substantive compliance with regulatory and statutory provisions. The directors are satisfied with the internal control systems of OCPFM. The board is satisfied that semi-annual reporting intervals to unitholders is sufficient as the portfolio is primarily invested in immovable property generating a sustainable income. The board is satisfied that OCPFM is a going concern and will continue to be a going concern in the year ahead. There are no envisaged risks to the long-term sustainability of OCPFM. The directors of OCPFM are required to formally disclose their shareholdings, additional direc