Visual International Board Of Directors Makes A Formidable Team

Visual International Holdings, which is set to list on the JSE AltX next month, has announced a Board of Directors that will benefit investors with an exceptional knowledge-base and a wealth of experience.

Charles Robertson, Managing Director of Visual International

Charles Robertson, Managing Director of Visual International

Dr Ruben Richards, who served as founding Deputy Director-General of the Scorpions and was Executive Secretary of the Truth and Reconciliation Commission, will chair Visual’s Board of Directors, bringing with him valuable multi-disciplined experience in both the private and public sectors, and a passion for building healthy communities.

Visual’s co-founder, Charles Robertson, stays on as Managing Director, ensuring that the company continues to benefit from his extensive experience in property development such as landmark projects like N1 City in Cape Town.

The full board will comprise the executive team of Robertson, Projects Director Peter Grobbelaar and Financial Director Grant Noble with Richards as its independent, non-executive Chairman and independent, non-executive directors Dr Eltie Links, Pankaj Ranchod, Theo Vorster, Reuben Kadalie and Guy Lundy.

“The Visual Board of Directors embodies the knowledge, experience and skill needed for excellent governance and can provide the strategic and operational direction required to ensure we deliver the best performance to our investors,” says Robertson.

Visual develops mixed-use residential suburbs for the middle-income market – the fastest growing residential property market segment in South Africa. Its homes range in price from R400,000 to R700,000.

Visual  has assets of around R126,5 million, including more than 70,000sqm of developable bulk that is ultimately expected to produce a real estate investment of approximately R2 billion. Visual’s net asset value is in the region of R60 million.

Visual’s JSE AltX listing will help it raise capital to unlock the next chapter of its growth path. It intends to raise R33 million before listing on the AltX through the issue of 66,000,000 new shares at 50 cents per share. The capital raised will be used to fast-track construction at its flagship Stellendale development in Kuils River, Cape Town, over the next two years.

Visual forecasts a two-year LT EPS of 19%. It plans to reinvest all profits for the first few years after listing without paying dividends. Visual’s long-term strategy is to increase the percentage of retained properties in its developments over time, from its current 15%. By doing this, the company will benefit from increased and escalating annuity income as well as capital growth. Visual has its sights set on a JSE main board listing in time.

“We are confident that our board is in an excellent position to continue our model of building quality housing for the middle market and developing mixed-use suburbs on suitable land near jobs and infrastructure in strategic high-growth nodes across South Africa,” says Robertson. “We will grow Visual International using a strategy which takes best advantage of our unique market position.”

Leave a Comment