Spear Reit Management

Management criteria checks 2/4

Spear Reit's CEO is Quintin Rossi, appointed in May 2018, has a tenure of 5.92 years. total yearly compensation is ZAR9.24M, comprised of 34% salary and 66% bonuses, including company stock and options. directly owns 3.86% of the company’s shares, worth ZAR65.45M. The average tenure of the management team and the board of directors is 6 years and 7.8 years respectively.

Key information

Quintin Rossi

Chief executive officer

R9.2m

Total compensation

CEO salary percentage	34.0%
CEO tenure	5.9yrs
CEO ownership	3.9%
Management average tenure	6yrs
Board average tenure	7.8yrs

Recent management updates

Recent updates

Read This Before Selling Spear Reit Limited (JSE:SEA) Shares

Mar 15

Spear Reit (JSE:SEA) Shareholders Received A Total Return Of Negative 24% In The Last Three Years

Jan 21

Michael Flax Is The Non-Executive Deputy Chairman of Spear Reit Limited (JSE:SEA) And They Just Picked Up 6.5% More Shares

Nov 27

CEO Compensation Analysis

How has Quintin Rossi's remuneration changed compared to Spear Reit's earnings?
Date	Total Compensation	Salary	Company Earnings
Aug 31 2023	n/a	n/a	R200m
May 31 2023	n/a	n/a	R191m
Feb 28 2023	R9m	R3m	R182m
Nov 30 2022	n/a	n/a	R188m
Aug 31 2022	n/a	n/a	R194m
May 31 2022	n/a	n/a	R179m
Feb 28 2022	n/a	n/a	R165m
Nov 30 2021	n/a	n/a	R144m
Aug 31 2021	n/a	n/a	R124m
May 31 2021	n/a	n/a	R89m
Feb 28 2021	R3m	R2m	R53m
Nov 30 2020	n/a	n/a	R115m
Aug 31 2020	n/a	n/a	R178m
May 31 2020	n/a	n/a	R193m
Feb 29 2020	R3m	R2m	R207m
Nov 30 2019	n/a	n/a	R203m
Aug 31 2019	n/a	n/a	R198m
May 31 2019	n/a	n/a	R234m
Feb 28 2019	R2m	R2m	R270m
Nov 30 2018	n/a	n/a	R311m
Aug 31 2018	n/a	n/a	R351m
May 31 2018	n/a	n/a	R367m
Feb 28 2018	R2m	R1m	R383m

Compensation vs Market: Quintin's total compensation ($USD485.80K) is above average for companies of similar size in the ZA market ($USD319.38K).

Compensation vs Earnings: Quintin's compensation has increased by more than 20% in the past year.

CEO

Quintin Rossi (42 yo)

5.9yrs

Tenure

R9,239,000

Compensation

Mr. Quintin Michael Rossi, BA (LAW) PGDEM, serves as Managing Director and Chief Executive Officer of Spear Reit Limited since May 17, 2018 and has been its Director November 18, 2015.

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Quintin Rossi	CEO, MD & Director	5.9yrs	R9.24m	3.86% ZAR 65.5m
Christiaan Barnard	CFO & Executive Director	no data	R7.19m	0.10% ZAR 1.8m
Cliff Toerien	Chief Operating Officer	6.1yrs	no data	no data
Kim Pfaff-Karg	Chief Investment Officer	4.1yrs	no data	0.0045% ZAR 76.0k
Per René Stober	Company Secretary	7.6yrs	no data	no data

6.0yrs

Average Tenure

Experienced Management: SEA's management team is seasoned and experienced (6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Quintin Rossi	CEO, MD & Director	8.4yrs	R9.24m	3.86% ZAR 65.5m
Christiaan Barnard	CFO & Executive Director	7.8yrs	R7.19m	0.10% ZAR 1.8m
Abubaker Varachhia	Non-executive Chairman	8yrs	R659.00k	6.9% ZAR 117.0m
Michael Flax	Non-Executive Deputy Chairman	8yrs	R647.00k	7.7% ZAR 130.6m
Brian Goldberg	Independent Non-Executive Director	7.8yrs	R346.00k	0.60% ZAR 10.2m
Jalaloodien Allie	Lead Independent Non-Executive Director	7.8yrs	R340.00k	0.048% ZAR 810.1k
Cormack Mccarthy	Non-Executive Director	6.8yrs	R309.00k	no data
Rozett Phillips	Independent Non-Executive Director	5.8yrs	R297.00k	no data
Bongani Raziya	Independent Non-Executive Director	1.2yrs	R18.00k	2.24% ZAR 38.0m

7.8yrs

Average Tenure

59yo

Average Age

Experienced Board: SEA's board of directors are considered experienced (7.8 years average tenure).

Spear Reit Management

Management criteria checks 2/4

Key information

Recent management updates

CFO & Executive Director recently bought R209k worth of stock

Chief Operating Officer recently sold R420k worth of stock

CEO, MD & Director recently bought R89k worth of stock

CFO & Executive Director recently bought R71k worth of stock

CEO, MD & Director recently sold R532k worth of stock

Chief Operating Officer recently sold R261k worth of stock

Recent updates

Now 22% undervalued after recent price drop

New minor risk - Financial data availability

Now 20% undervalued after recent price drop

CFO & Executive Director recently bought R209k worth of stock

Chief Operating Officer recently sold R420k worth of stock

New minor risk - Insider selling

CEO, MD & Director recently bought R89k worth of stock

CFO & Executive Director recently bought R71k worth of stock

Now 20% undervalued

Upcoming dividend of R0.38 per share at 9.8% yield

CEO, MD & Director recently sold R532k worth of stock

New major risk - Financial position

Spear Reit Limited Declares Interim Dividend for the Six Months Ended 31 August 2023. Payable on 20 November 2023

Spear Reit Limited to Report First Half, 2024 Results on Oct 24, 2023

Chief Operating Officer recently sold R261k worth of stock

Now 21% undervalued

CEO, MD & Director recently bought R88k worth of stock

Now 23% undervalued after recent price drop

CEO, MD & Director recently bought R134k worth of stock

CEO, MD & Director recently bought R4.6m worth of stock

Spear Reit Limited, Annual General Meeting, Jun 30, 2023

Upcoming dividend of R0.39 per share at 11% yield

CEO, MD & Director recently bought R72k worth of stock

Spear Reit Limited Announces Dividend Declaration for the Year Ended 28 February 2023, Payable on 12 June 2023

CEO, MD & Director recently bought R116k worth of stock

Capitec Bank Limited entered into a sale of rental enterprise agreement to acquire The Liberty Life Building, Century City Boulevard from Spear Reit Limited (JSE:SEA) for ZAR 400 million.

Spear Reit Limited Appoints Bongani Raziya as an Independent Non-Executive Director, and as Member of the Social and Ethics, Audit and Risk, Remuneration and Investment Committees

CFO & Executive Director recently sold R3.4m worth of stock

Spear Reit Limited Announces Resignation of Niclas Kjellström-Matseke as Independent Non-Executive Director

Non-Executive Deputy Chairman recently bought R193k worth of stock

Standard Bank Group Limited (JSE:SBK) acquired an unknown stake in Spear Reit Limited (JSE:SEA).

Less than half of directors are independent

Upcoming dividend of R0.37 per share

Spear Reit Limited (JSE:SEA) entered into a sale of rental enterprise agreement to acquire The Island Milnerton, Western Cape from Inospace 2 Proprietary Limited for SAR 185 million.

CEO, MD & Director recently bought R1.6m worth of stock

Rex Trueform Group Limited (JSE:RTN) entered in to an agreement to acquire ERF 176024 Cape Town situated at 5 Fitzmaurice Avenue from Spear Reit Limited (JSE:SEA) for ZAR 85 million.

Upcoming dividend of R0.35 per share

Spear Reit Limited Declares Final Gross Dividend, Payable 20 June 2022

Spear Reit Limited, Annual General Meeting, Jun 30, 2022

Spear Reit Limited to Report First Half, 2023 Results on Oct 25, 2022

Spear Reit Limited to Report Fiscal Year 2022 Results on May 26, 2022

Less than half of directors are independent

Snow Storm Investments Proprietary Limited entered into a sale of letting enterprise agreement to acquire Erf 17611 Cape Town at 8 Section Street, Paarden Eiland from Spear Reit Limited (JSE:SEA) for ZAR 22.5 million.

CEO, MD & Director recently bought R112k worth of stock

CEO, MD & Director recently sold R840k worth of stock

CEO, MD & Director recently sold R840k worth of stock

GMCC Investments Proprietary Limited entered into a sale of letting enterprise agreement to acquire Erf 21623 Bellville from Spear Reit Limited (JSE:SEA) for ZAR 71.4 million.

Spear Reit Limited (JSE:SEA) entered into an agreement to acquire Property at 27 Junction Road, Parow, Cape Town for BRL 65 million.

CEO, MD & Director recently bought R136k worth of stock

CEO, MD & Director recently bought R203k worth of stock

CEO, MD & Director recently bought R72k worth of stock

Independent Non-Executive Director recently sold R4.5m worth of stock

Upcoming dividend of R0.33 per share

CEO, MD & Director recently sold R645k worth of stock

CEO, MD & Director recently sold R2.2m worth of stock

CEO, MD & Director exercised options to buy R1.3m worth of stock.

CEO, MD & Director recently bought R58k worth of stock

Inospace 5 Proprietary Limited entered into an agreement to acquire Island Business Park in Cape Town from Spear Reit Limited (JSE:SEA) for R20 million.

CEO, MD & Director recently bought R226k worth of stock

Upcoming dividend of R0.29 per share

Investor sentiment improved over the past week

Read This Before Selling Spear Reit Limited (JSE:SEA) Shares

New 90-day low: R5.10

Spear Reit (JSE:SEA) Shareholders Received A Total Return Of Negative 24% In The Last Three Years

New 90-day high: R5.95

New 90-day high: R5.80

Spear Reit Limited (JSE:SEA) entered into a transaction agreement to acquire the remaining 30% stake in Erf 9363, Cape Town for ZAR 8.3 million.

Michael Flax Is The Non-Executive Deputy Chairman of Spear Reit Limited (JSE:SEA) And They Just Picked Up 6.5% More Shares

New 90-day low: R4.90