The Board of Sabvest announced on 19 June 2017 that Mr. Charles Pettit would join Sabvest as an executive director on 1 September 2017 and that the company and Mr. Pettit would also form a JV investment company. Sabvest and Mr. Pettit have mutually agreed that it is not opportune to proceed with these arrangements at the present time primarily due to legacy investment holdings and corporate finance mandates held by Mr. Pettit and his associates which might cause conflicts of interest in the short term.