Letlole La Rona Limited (LLR) has announced the retirement of its board chair, Khuto Balosang, following his decision to withdraw from re-election at the Company’s Annual General Meeting held on 18 December 2025.
The real estate investment company said Balosang’s re-election resolution, which was due to be tabled under the board’s annual rotation provisions, was withdrawn ahead of voting at the AGM. His withdrawal resulted in the retraction of his candidacy and his retirement from the board with immediate effect.
The AGM, conducted virtually via Microsoft Teams, was attended by 76 unitholders representing 267.3 million linked units, equivalent to 95.5% of the Company’s total securities in issue. Following the chair’s withdrawal, unitholders proceeded to vote on the remaining seven ordinary resolutions, all of which were passed.
In a statement accompanying the voting results, the board paid tribute to Balosang’s tenure, describing his contribution as “immeasurable” and crediting his leadership, strategic insight and commitment to sound governance with guiding the Company through key phases of its growth and transformation.
The Company said the chair’s departure forms part of a broader leadership refresh at both board and executive levels, aimed at strengthening governance, sharpening strategic focus and positioning Letlole La Rona for the final phase of its current five-year strategic cycle.
With effect from 18 December 2025, deputy board chair Mooketsi Maphane has assumed the role of interim board chair. Maphane was re-elected to the board at the same AGM, although the resolution received a narrower margin of support compared to other resolutions passed on the day.