Colliers SA Holdings Limited announced on Monday a proposed name change to Adrenna Property Group Limited.

The company advised shareholders of the proposed name change came alongside a proposal to convert existing par value shares to shares of no par value.

The company provided the rationale that the main business of Colliers was that of a property holding company and it was only through its wholly-owned subsidiary, Colliers RMS, that the group provided property-related services including property and facilities management, broking, auctioneering and property development services.

In order to differentiate the group from the pure property-related services associated with the Colliers International brand it had been proposed that the company change its name to the Adrenna Property Group Limited.

A general meeting has been scheduled for Wednesday, 8 February in Bryanston, in order for shareholders to consider the name change and conversion of the share capital to shares of no par value.