TEXTON PROPERTY FUND LIMITED - Results of General Meeting

Results of General Meeting

TEXTON PROPERTY FUND LIMITED
Incorporated in the Republic of South Africa
(Registration number 2005/019302/06)
Share code: TEX ISIN: ZAE000190542
Approved as a REIT by the JSE
(“Texton” or “the Company”)


RESULTS OF GENERAL MEETING


Shareholders are referred to the announcement released on SENS on 27 November 2018, and to the
Circular distributed to Shareholders on 27 November 2018. Terms defined in the Circular, unless otherwise
stated, shall bear the same meanings when used in this announcement.
Shareholders are advised that, at the general meeting convened in terms of the notice of general meeting
to shareholders dated 27 November 2018, which meeting was held on Friday, 28 December 2018, the
resolutions required to approve the Repurchase were not passed by the requisite majority of Shareholders.
The number of Shares present in person or represented by proxy was 233 541 465 representing 62% of
the total issued share capital of the same class of shares.
The resolutions proposed at the general meeting, together with the percentage of shares abstained, as well
as the percentage of votes carried for and against each resolution, are set out below:

                                                                   % of votes
                                                                   carried for    % of votes          % of
                                                                          the     against the      Shares
  Resolution                                                       resolution      resolution    abstained
  Special Resolution Number 1 – Approval of the
  decision of the Board that the Company acquire the BEE
  Shares                                                                0.00%       100.00%          5.20%
  Special Resolution Number 2 – Approval of the
  Repurchase in terms of the Listings Requirements                      0.01%        99.99%          5.20%
  Ordinary Resolution Number 1 – Authority granted to
  directors                                                             1.48%        98.52%          5.49%


 On the basis of advice received from Senior Counsel and following the process advised by them and our
 legal advisors, the Board is of the opinion that Texton’s obligation to implement the Repurchase in terms of
 the PIC Put Option Agreement has come to an end as the conditions to which it was subject have failed.
 The Company is thus released from all liability to the PIC in terms of the PIC Put Option Agreement.


 Johannesburg
 28 December 2018

Sponsor and Joint Corporate Adviser
Merchantec Capital

Joint Corporate Adviser
Tenurey BSM Proprietary Limited

Joint Corporate Adviser
Java Capital Proprietary Limited

Legal Adviser
Glyn Marais Inc

Independent Expert
Nodus Capital TS Proprietary Limited

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