RMB Holdings (RMH) chief executive Brian Roberts has resigned amid the release of weaker interim financial results.
RMH had transitioned into a property investment holding company primarily managed through its interest in Atterbury Property. Atterbury is a prominent real estate developer whose extensive portfolio includes a diverse mix of commercial, retail, and industrial spaces across South Africa, the rest of Africa, and Europe and is widely known for the development of Mall of Africa.
However, Atterbury launched an acquisition bid for RMH, which resulted in RMH losing its holding of Atterbury Property Holdings.
Roberts stepped down as CEO, financial director and board member effective on Monday but will serve a one-month notice period.
According to management, his departure comes at a time of leadership shake-up ahead of the shareholders’ meeting to elect a new board on Thursday.
Directors headed for the door
“His resignation coincides with the prospective resignation of the current non‑executive directors, who have indicated their intention to resign upon the closure of the mandatory offer on 29 May 2026,” reads the statement.
This comes amid challenging financial results for the six months ended March 31. Revenue was down by 43% to R34-million from R60-million in the same period last year. Profit also dropped by 20% to R16-million.
RMH reported a headline loss of R3-million, increasing from a loss of R2-million a year earlier. Earnings per share slipped to 1.3 cents from 1.5 cents, while headline loss per share doubled to 0.2 cents.
The company’s net asset value per share also dropped significantly, falling 27% to 50.3 cents, underlining the erosion in shareholder value over the period.
The reconstituted board will also be tasked with ensuring compliance with corporate governance and JSE regulatory requirements, signalling a reset in oversight and strategic direction.
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- RMB Holdings (RMH) CEO Brian Roberts resigned amid weak interim financial results, also stepping down as financial director and board member with a one-month notice period.
- RMH, a property investment holding company linked to Atterbury Property, lost its holding in Atterbury following an acquisition bid by Atterbury.
- RMH’s financial performance declined significantly with revenue down 43%, profit down 20%, and a headline loss increasing to R3 million for the six months ended March 31.
- Several non-executive directors have also indicated plans to resign following the mandatory offer closure on May 29, 2026, amid a leadership shake-up ahead of the upcoming shareholders' meeting.
- The reconstituted board is expected to focus on restoring corporate governance, regulatory compliance, and strategic direction for the company.
RMB
RMH had transitioned into a property investment holding company primarily managed through its interest in Atterbury Property. Atterbury is a prominent real estate developer whose extensive portfolio includes a diverse mix of commercial, retail, and industrial spaces across
However, Atterbury launched an acquisition bid for RMH, which resulted in RMH losing its holding of Atterbury Property
Roberts stepped down as CEO, financial director and board member effective on
“His resignation coincides with the prospective resignation of the current non‑executive directors, who have indicated their intention to resign upon the closure of the mandatory offer on 29 May 2026,” reads the statement.
RMH reported a headline loss of R3-million, increasing from a loss of R2-million a year earlier.
Visit SW YouTube Channel for our video content
