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PRESS RELEASE

14 December 2017, Cape Town: Leading racehorse sales company Cape Thoroughbred Sales (CTS) has announced that Markus Jooste has resigned as director, and Mayfair Speculators has commenced the process of exiting their shareholding following yesterday’s CTS board meeting.

Wéhann Smith, Chief Executive Officer at CTS, explains that all remaining shareholders are fully committed to the company and to the CTS Cape Premier Yearling Sale taking place from 20-21 January 2018. The CPYS draft, according to Smith, looks potentially stronger than that of any previous years, and his belief is that vendors and buyers alike can look forward to the event with great optimism.

“Our business is resilient, and our Board, which includes chairman Chris van Niekerk and Bernard Kantor, is dedicated to ensuring that operations continue as normal, and that we keep innovating and raising the bar with each sale,” he says.

Smith confirms that the transition is underway and proceeding smoothly, with no impact on vendors or disruption to the Sales programme.

“While recent events concerning Mayfair Speculators have admittedly impacted the broader industry, we can assure our clients that our focus is on ensuring we continue to deliver on our commitment to presenting Sales with the professionalism and style to which our clients have become accustomed. Markus has in many ways been our founder and visionary, and we are tremendously saddened that he will not be part of our future plans. His leadership of and passion for our industry will be sorely missed,” says Smith.